In 2023, finfish sales in Canada stood at 1.1652 billion CAD. From 2024 onwards, the forecasted sales values indicate a consistent year-on-year growth. Specifically, the forecasted values are 1.1933 billion CAD in 2024, rising to 1.2205 billion CAD in 2025, 1.2473 billion CAD in 2026, 1.274 billion CAD in 2027, and 1.3003 billion CAD in 2028. This marks a continuous upward trend with an average Compound Annual Growth Rate (CAGR) of approximately 2.2% over the five-year period between 2024 and 2028.
In terms of year-on-year variations, the growth rates are stable, improving gradually each year. The increases from 2024 to 2025, 2025 to 2026, 2026 to 2027, and 2027 to 2028 are in the range of 2.2% to 2.3%.
Future trends to watch for include the impact of sustainable fishing practices, changes in consumer dietary preferences towards healthier options, and the potential impact of economic fluctuations on purchasing power. Additionally, monitoring technological advancements and innovations in the aquaculture industry could provide insights into future growth trajectories. Keep an eye on regulatory changes and their potential implications for the supply chain and market dynamics.
