The forecast for frozen rock lobster and other sea crawfish imports to Canada indicates a consistent declining trend from 2024 to 2028. Starting at approximately $6.2 million in 2024, imports are expected to decrease to close to $5 million by 2028. This represents a year-on-year decline of around 5% over this period. Looking back, in 2023, the imports were approximately $6.5 million, showing a noticeable downward trend into 2024. The compound annual growth rate (CAGR) over the forecast period is estimated to be around -5% indicating a steady reduction over these years.
Future trends to watch for include:
- Potential impacts of climate change on marine biodiversity and supply chains.
- Shifts in consumer preferences toward sustainable seafood options.
- Trade policies possibly affecting import tariffs and regulations.
- Technological advancements in seafood preservation and transport.
