The forecast for the Seafood Gross Value Added (GVA) in Canada shows a consistent, gradual increase from 2024 to 2028. The value is expected to rise from 2.75 billion CAD in 2024 to 3.06 billion CAD in 2028. In 2023, the GVA stood at 2.67 billion CAD. Year-on-year variations reveal a stable growth pattern, with an average annual increase of between 2.75% and 2.45% over this period. This steady rise results in a 5-year compound annual growth rate (CAGR) of approximately 2.8%.
Future trends to watch for include potential impacts of climate change on fish habitats, regulatory adjustments in the fisheries sector, advancements in aquaculture technologies, and shifting consumer preferences towards sustainable seafood. Monitoring these factors will be crucial for stakeholders in the industry.
