Forecast data for Canada's capture fisheries production reveals a declining trend from 2024 to 2028. In 2023, production stood at approximately 721.18 thousand metric tons. By 2028, production is forecasted to decrease to 642.93 thousand metric tons, representing a significant reduction over the period.
The year-on-year decline accelerates, indicating pressures on the industry, potentially due to environmental changes or regulatory measures. The compound annual growth rate (CAGR) from 2024 onwards reflects a steady decrease in production volume, averaging a decline each year over the five-year forecast period.
Future trends to watch for:
- Environmental policies impacting fisheries.
- Technological advancements in fishing techniques.
- Global demand shifts for seafood.
- Sustainability initiatives and their effects on production.
