Domestic Seafood Market: Canada

Goals

To identify the domestic seafood market size in Canada as well as the consumer behavior over the past 3-5 years in order to determine the gaps for a future research study.

Early Findings

The background research on this topic helped us in identifying the market size of the fish and seafood industry in Canada. Further, we also found a few statistics related to consumer behavior related to seafood consumption in Canada.

MARKET SIZE

  • As of 2019, the market size of the fish and seafood aquaculture industry in Canada is around $6 billion. The market has grown by 7.7% over the past 5 years.
  • Cooke Aquaculture Inc and Mowi ASA have the highest market share in Canada's fishing and seafood aquaculture industry.
  • There are approximate 19,461 businesses in Canada that are catering to the seafood market.

CONSUMER BEHAVIOUR

  • According to a survey of 2,000 respondents conducted by Statista, the most eaten seafood at home by Canadians include shrimp (61%), scallops (28%), crabs (28%), lobsters (27%), mussels (20%), octopus or squid (15%), oysters (15%), and clams (14%).
  • Based on another survey of 1,780 respondents, people in Canada eat fish and seafood because it tastes good (80%), contains good fats (55%), is a good meat substitute (38%), and is healthy for the heart (36%).
  • In 2017, the average expenditure on fish and seafood per household was CA$219 annually, increased by CA$16 and CA$6 as compared to 2016 and 2015 respectively.
  • For ease of accessibility, the screenshots of the Statista sources can be found here.

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