In 2023, the import of frozen whole haddock to Canada stood at $2.0 million. The forecast from 2024 to 2028 shows a declining trend in import values, dropping from $1.8627 million in 2024 to $1.2057 million by 2028. This represents a consistent decrease, with a year-on-year reduction of approximately 9% over the five-year period. The compound annual growth rate (CAGR) during this period is about -7.95%, indicating a consistent annual contraction. This decline may suggest reduced consumer demand, increased domestic supply, or trade policy impacts.
Future trends to monitor include potential changes in domestic fishery regulations, shifts in consumer preferences towards locally sourced seafood, and international trade policies impacting fish imports. Additionally, monitoring changes in exchange rates and fuel costs, which impact international shipping, will be crucial.
