In 2023, the re-import of prepared or preserved shrimps and prawns to Canada stood at a level significantly influencing subsequent forecasts. From 2024 onwards, there is an observable downward trend in the forecasted values, with the import value decreasing steadily from 2024 to 2028. Year-on-year, this reflects a consistent decline in the import value with average depreciation projected through a compounded annual growth rate (CAGR). The data suggest a shrinking demand or a shift in international sourcing strategies for these commodities in Canada over the next five years.
Future trends to watch include shifts in consumer preferences towards sustainably-sourced seafood, changes in global shrimp and prawn production affecting import prices, and potential trade policy adjustments that could alter the economic feasibility of re-importing these seafood items back to Canada.
