The supply of processed sea fish in Canada has shown a fluctuating trend over the past years, standing at 147.56 thousand metric tons in 2023. Historical data reveals peak values in 2016 at 152.37 thousand metric tons, followed by a noticeable dip in 2017. The supply rebounded post-2020 but displayed another dip in 2021. The highest year-on-year change occurred in 2022 with a 9.42% increase, whereas 2021 witnessed a significant drop of 7.26%. The five-year compound annual growth rate (CAGR) leading up to 2023 stands at 0.57%. Future projections indicate a stable supply with a marginal decline, indicating a forecasted 5-year CAGR of -0.02% by 2028.
Future trends to watch for:
- Technological advancements in fish processing
- Changes in consumer preferences towards sustainable seafood
- Impact of regulatory policies on fisheries and imports
- Global economic conditions influencing seafood demand and supply
- Potential climate change effects on marine life and fishing yields
