CANADA SEAFOOD MARKET

INTRODUCTION

Canada is known for its varied and excellent seafood because of its large coastline and plentiful freshwater resources. Many clam species can be found in Canada, where they are utilised in a wide range of recipes, including pasta and clam chowder.

Canada is known for its superior oysters from the Pacific and Atlantic seaboards. Popular kinds are Kusshi oysters from British Columbia and Malpeque oysters from Prince Edward Island. Seafood from Canada is frequently praised for its sustainability and freshness. The nation has put strict policies and procedures in place to guarantee the ethical management of its fisheries.

KEY FINDINGS

1. Oceans and Fisheries Canada is divided into six administrative regions: Newfoundland and Labrador, Quebec, Gulf, Maritimes, Pacific, Central, and Arctic. 
2. In 2020, 0.9 million tonnes of fish and seafood were produced in Canada, valued at Can$5.0 billion.
3. The COVID-19-related interruptions in the Canadian seafood sector were partially recovered in 2021.
4. Canada ranks fifth globally in terms of fish and seafood exports, with Can$9.0 billion in 2021. Between 2017 and 2021, the value of Canadian exports increased at a CAGR of 4.2%.
5. From 2018 to 2022, Canada's total retail sales of fish and seafood increased in value at a CAGR of 5.5%, reaching Can$5.4 billion in 2022. By 2027, they should have increased at a 3.5% annual pace to Can$6.4 billion. 
6. From 2017 to 2021, the value of fish and seafood imports into Canada increased at a 4.5% annual growth rate, totaling Can$4.6 billion.

CANADA SEAFOOD MARKET SIZE AND FORECAST

The Canada seafood market accounted for $XX Billion in 2023 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2024 to 2030.

CANADA SEAFOOD MARKETRECENT DEVELOPMENT

The Canadian seafood company Scout introduced the first line of craft canned seafood that sources all of its species from the coasts of both the United States and Canada, establishing a sustainable and local business model.

In order to introduce a transparent supply chain based on preserving the health of the ocean, Scout established a network of small-scale, sustainable fisheries that are local to both Canada and the United States.

Beyond the model, the company is dedicated to promoting ocean health by donating its profits to non-profit partners that defend local waterways and oceans through 1% for the Planet, an organisation whose members donate a portion of their yearly sales to favourable environmental causes.

In an effort to encourage consumers to embrace European conservas culture, the product line's recipes were developed by chefs to make meal preparation simple at home. Across North America, there is a growing appreciation for conservas.

People seemed to be incorporating canned seafood into their meals at home in droves after wine bars and tapas started serving it in cans. The current environment has undoubtedly made canned fish more necessary, so now is the ideal moment to launch a premium product in this market.

CANADA SEAFOOD MARKETMARKET DYNAMICS

The majority of Canadians frequently consume fish in spite of high grocery costs. The majority of seafood purchased by Canadians is fish, such as trout, salmon, or finfish, rather than oysters, crab, mussels, shellfish, or crustaceans like Colombo. 

Governments use a variety of programmes to promote their fishing industries. Although the aims are different, they usually revolve around things like preserving jobs, enhancing the welfare of fishermen, or guaranteeing the industry's sustainability and the resources it uses.

Generally, the government finances services to the fishing industry that help the industry overall or in certain of its areas and also offer direct assistance to people and businesses.

Oceans and Fisheries In order to responsibly move away from open net-pen salmon farming in coastal British Columbia waters by 2025, Canada is collaborating with the province of British Columbia and Indigenous communities.

Additionally, work is underway to develop Canada's first-ever Aquaculture Act. The proposed federal Aquaculture Act would be implemented by updated legislation tailored to aquaculture and would promote a framework that is consistent across the country, respects provincial jurisdictions, and takes regional variations into account.

CANADA SEAFOOD MARKETCOMPETITIVE LANDSCAPE 

In the Canadian seafood market, Lagoon Seafood has made a name for itself as a top importer, exporter, distributor, and processor of frozen and fresh fish and seafood products. 

Seattle is home to the privately held seafood company Aqua Star. They have been collecting and procuring high-quality seafood from farmers and fishermen since 1990. They work in 17 different nations to find and prepare the best ingredients and guarantee the highest standards of transparency and quality for every seafood. 

BRUNSWICK is a component of the largest branded seafood firm in North America and operates in over 50 countries worldwide. Additionally, they provide a line of supplementary canned meat products to increase the amount of shelf-stable proteins even more.

Brunswick is a well-known worldwide brand that offers premium salmon, tuna, sardines, and other specialties. While the staples of the tuna and sardine portfolios are the oil and water varieties. 

CANADA SEAFOOD MARKETTHIS REPORT WILL ANSWER FOLLOWING QUESTIONS

1. How many seafoods are manufactured per annum in Canada? Who are the sub-component suppliers in different regions?
2. Cost breakup of a Canada seafood and key vendor selection criteria
3. Where is the Canada seafood manufactured? What is the average margin per unit?
4. Market share of Canada seafood market manufacturers and their upcoming products
5. Cost advantage for OEMs who manufacture Canada seafood in-house
6. key predictions for next 5 years in Canada seafood market
7. Average B-2-B Canada seafood market price in all segments
8. Latest trends in Canada seafood market, by every market segment
9. The market size (both volume and value) of the Canada seafood market in 2024-2030 and every year in between?
10. Production breakup of Canada seafood market, by suppliers and their OEM relationship