The forecast for frozen catfish fillets imports to Canada indicates a downward trend from 2024 to 2028. In 2023, the actual import value was estimated to be around 25.8 million USD. The year-on-year percentage variation shows a consistent decline, with values decreasing annually by approximately 2.63% from 2024 to 2028. Calculating the Compound Annual Growth Rate (CAGR) over these five years reveals an average annual decrease of about -2.75%.
Future trends to watch for include potential changes in consumer preferences that could impact demand. Additionally, regulatory developments or shifts in international trade policies may affect the importation of catfish products. Monitoring local production capabilities and sustainability initiatives could also provide further insights into the market dynamics. These factors could either mitigate the declining trend or exacerbate it, depending on the nature and timing of such changes.
