In 2023, Canada imported human-edible crustaceans flours, meals, and pellets valued at approximately $821 million. The forecast suggests a steady annual increase: $832.51 million in 2024, up to $876.36 million in 2028. This consistent growth displays annual year-on-year increases in the range of 1.3% to 1.5%, with a five-year CAGR of about 1.3%. This trend indicates a stable and modest expansion in Canada's import market for these products.
Future Trends to Watch For:
- Potential shifts in consumer preferences towards sustainable seafood options could impact demand.
- Trade policies and currency fluctuations might influence import costs and volumes.
- Technological advancements in seafood processing could enhance product value and market appeal.
