In 2023, the domestic consumption of fish meal in Canada stood at 122.0 thousand metric tons. Based on forecasted data, the consumption is anticipated to rise incrementally from 124.0 thousand metric tons in 2024 to 129.0 thousand metric tons by 2028. Analyzing the year-on-year variation, there is a steady annual growth of approximately 1.6% to 0.8% until 2028. Notably, the compound annual growth rate (CAGR) for this period is about 1.1%, indicating a consistent increase in fish meal consumption.
Future trends to watch for include the potential impact of sustainable fishing practices, changes in aquaculture demand, and trade policies. Additionally, monitoring shifts in global fish meal prices and advancements in alternative protein sources will be crucial for understanding future consumption patterns in Canada.
