The import of prepared or preserved lobster to Canada is expected to steadily increase from 2024 to 2028. Starting at $5.5194 million in 2024, the value is projected to rise to $6.0968 million by 2028. There is a consistent year-on-year increase, with annual growth rates reflecting a compounded annual growth rate (CAGR) indicative of a trend towards rising demand.
In 2023, the import value stood at $5.389 million. With this baseline, it is evident that Canada's demand for prepared or preserved lobster is steadily growing, influenced by factors such as consumer preferences and global trade dynamics.
Future trends to watch include the impact of international trade policies and tariffs on seafood, shifts in consumer eating habits as they relate to sustainability concerns, and the potential for market expansion in other shellfish categories. Additionally, economic conditions and their effect on disposable income could influence consumption patterns.
