The value added of seafood product preparation and packaging in Canada has seen significant fluctuations over the past decade, peaking in 2016 at 1.9184 billion CAD and dipping to 1.6147 billion CAD by 2023, indicating a complex growth pattern. The year-on-year variations reveal substantial growth in certain years like 2015 and 2016, followed by periods of decline or modest growth. The last two years showed minor negative growth of -0.49%. The five-year CAGR from 2023 to 2028 is forecasted to be -0.39%, suggesting a slight decline in value added during this period.
Future trends to watch for include:
- Technological advancements in packaging and preparation processes.
- Changes in consumer preferences towards sustainable and ethically sourced seafood.
- Impact of governmental regulations and trade policies on the seafood industry.
- Potential disruptions in global supply chains and resource availability.