The export volume of fresh and frozen sea fish in Canada has experienced notable fluctuations over the past decade. In 2023, the volume stood at 121.11 thousand metric tons. Key variations include a substantial drop in 2014 by 8.23% after 2013's 10.1% decline, followed by a rise of 20% in 2015 and 12.04% in 2016, but there have been declines in recent years with a -19.09% decrease in 2022 and -0.11% in 2023. The compound annual growth rate (CAGR) over the last five years stands at -5.37%. Future projections show a modest decline with a 5-year forecasted CAGR at -0.05% from 2024 to 2028.
Future trends to watch for include:
• Potential market opportunities due to geopolitical changes impacting global trade.
• Technological advancements in sustainable fishing and aquaculture.
• Environmental policies and shifts in consumer preferences towards sustainable sourcing.
• Impact of climate change on fish populations and subsequent supply chain adjustments.
