The total aquaculture production in Canada has shown notable variability over the past decade, with values oscillating between 139.73 and 200.77 thousand metric tons. As of 2023, the volume stood at 199.34 thousand metric tons. Year-on-year growth rates have fluctuated, reflecting industry complexities and external influences. For instance, 2015 saw a significant increase of 34.1%, whereas 2020 experienced a notable decline of 14.72%. However, the recent two-year period shows a stabilization with moderate growth: 6.52% in 2022 and 1.16% in 2023.
Over the last five years, the compound annual growth rate (CAGR) averages at 0.82%, indicating modest progress. Forecasts suggest a slight uptick in the CAGR to 0.93% over the next five years, resulting in a cumulative growth rate of 4.73% by 2028. Future trends to monitor include advancements in sustainable aquaculture practices, regulatory changes, and the impact of climate change on fish farming operations. Adopting new technologies and improving supply chain efficiencies may further influence production volumes in this sector.
