In 2023, Canada's imports of prepared or preserved sardines, sardinella, and brisling or sprats were valued at $15.35 million. The forecast indicates a steady growth in imports from 2024 to 2028, starting at $16.308 million in 2024 to $20.09 million in 2028. Year-on-year variations show an annual growth trend of 5.88% from 2024 to 2025 and subsequent approximate yearly increases of 5.50%, 5.16%, and 4.85% respectively. The compound annual growth rate (CAGR) over the five-year period is approximately 5.64%.
Future trends to watch for include:
- Shifts in consumer preferences towards healthier protein options might bolster demand.
- Impacts of global fishing regulations and sustainability initiatives on supply chains.
- Price fluctuations due to potential geopolitical events affecting trade.
- Technological advancements enhancing preservation and packaging, influencing market dynamics.
