The forecasted export volume of frozen shrimps and prawns from Canada shows a consistent decline from 2024 to 2028. In 2023, the export volume stood at a higher level than the forecasted figures for the subsequent years. Analyzing the year-on-year variation, the export volume is expected to decrease by approximately 2.4% between 2024 and 2025. This decline rate continues with similar year-on-year reductions of about 2.4% each year until 2028. The Compound Annual Growth Rate (CAGR) over the five-year period from 2024 to 2028 is estimated at roughly -2.39%.
Future trends to watch for include fluctuations in global demand for seafood, changes in trade policies and tariffs, environmental concerns impacting shrimp farming, and innovations in aquaculture technology. Keeping track of these factors can provide insights into market adjustments and potential recovery in export volumes.
