Trends in the Canadian seafood market

Published 2024년 11월 11일

Tridge summary

The article highlights the increasing demand for sustainable seafood in Canada, with a significant portion of fish being Marine Stewardship Council (MSC) certified. The Canadian seafood market, valued at CAD 11 billion, is seeing a shift towards environmentally friendly products, despite a decline in tuna imports. Korean seafood exporters have opportunities to expand in this market under the Korea-Canada Free Trade Agreement, provided they meet Canada's standards and leverage tariff-free benefits. The market is competitive, dominated by major companies, and the rise of e-commerce is enhancing online sales. Korean exporters are encouraged to adopt sustainable practices to boost consumer confidence and market presence.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

High interest in sustainable seafood… Certification acquisition is important As of 2023, 61% of fish caught Acquired Marine Stewardship Council (MSC) certification Consumers consider environmental protection important Import of tuna and skipjack tuna meat in Korea Import share is low but continues to grow Need to increase price competitiveness by utilizing zero tariffs The Canadian seafood market is currently worth approximately CAD 11 billion. Annual seafood consumption per household in 2021 was CAD 314, an average annual increase of 5.6% from 2017 to 2021, and is expected to reach CAD 348.1 in 2026. A recent major trend in the Canadian seafood market is the increasing demand for sustainable seafood. As of 2023, 61% of fish caught in Canada will be sustainable products certified by the Marine Stewardship Council (MSC), a 280% increase from 2018. This change seems to reflect the trend of Canadian consumers valuing environmental protection and sustainability. Canada's import value ...

Source: Fisheco