Fresh and frozen sea fish production in Canada stood at 173.73 thousand metric tons in 2023, reflecting a slight year-on-year increase of 0.058%. Over the past decade, production has experienced fluctuations, peaking at 195.38 thousand metric tons in 2016 and dipping to 164.6 thousand metric tons in 2021. The compound annual growth rate (CAGR) over the past five years was -1.84%, indicating a general decline. However, the forecast for the next five years suggests minimal growth, with a projected 5-year CAGR of 0.02% and a total growth rate of 0.11%.
Future trends to watch for:
- Advances in sustainable fishing practices.
- Impact of climate change on sea fish populations.
- Technological improvements in seafood processing and storage.
- Shifts in consumer preferences towards sustainably sourced seafood.
- Potential regulatory changes impacting the fishing industry.
