Canada Seafood Market Research Report By Seafood Type (Cephalopods, Shellfish, Mollusks, Level Fish, Groundfish, Salmonids, Fish, Pelagic), By Seafood Retail (Surrounding, Frozen, Chilled) andBy Seafood Distribution Channel (Retail, Foodservice, Institutional)- Forecast to 2035

Canada Seafood Market Overview

Canada Seafood Market Size was estimated at 6.62 (USD Billion) in 2023. The Industry is expected to grow from 6.7(USD Billion) in 2024 to 8.64 (USD Billion) by 2035. The CAGR (growth rate) is expected to be around 2.343% during the forecast period (2025 - 2035).

   

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Canada Seafood Market Key Trends Highlighted

The Canada seafood market is witnessing significant trends driven by changing consumer preferences and a growing focus on sustainability. Canadians are increasingly seeking seafood that is sourced responsibly, leading to a rise in demand for wild-caught options and sustainably farmed products. This shift is driven by heightened consumer awareness regarding ocean health and fishery practices, prompting retailers to promote eco-friendly certifications and traceability in their offerings. Additionally, the popularity of health-conscious eating is boosting demand for seafood, known for its nutritional benefits, including high protein content and essential omega-3 fatty acids.The Canada seafood market offers a plethora of opportunities, particularly for innovative products such as value-added and ready-to-eat seafood that appeal to the hectic lifestyles of consumers. The emergence of plant-based alternatives is also a promising opportunity, as it enables companies to create seafood substitutes that are appealing to flexitarians and vegetarians. Additionally, utilizing e-commerce to promote seafood sales provides a means of reaching a broader consumer base, particularly younger demographics who favor online purchasing and home delivery options. In recent years, there has been an increase in the number of local procurement initiatives in the Canada seafood market. A more resilient supply chain is being established as a result of the increasing number of consumers who are choosing to support their communities by purchasing locally harvested seafood. The transparency and freshness of seafood are being improved as a result of the increased collaboration between fisheries and chefs, which is resulting in the emergence of farm-to-table concepts. Additionally, the Canadian government has been actively advocating for initiatives that are designed to safeguard marine biodiversity, which in turn enhances consumer confidence in Canadian seafood products. The dynamic evolution of the seafood industry in Canada is exemplified by this emphasis on sustainability, local sourcing, and health benefits.

Canada Seafood MarketDrivers

Growing Demand for Sustainable Seafood Practices

The Industry is significantly influenced by the increasing consumer preference for sustainable seafood production. A survey conducted by the Marine Stewardship Council revealed that 82% of Canadians are more likely to purchase seafood that has been certified as sustainable. This shift in consumer behavior is bolstered by organizations like the World Wildlife Fund Canada, which has been promoting responsible fishing practices and the protection of marine habitats.Government initiatives, such as the Fisheries Act, emphasize the importance of sustainability in Canada's seafood supply chain, setting a positive environment for market growth. Moreover, Statistics Canada noted that exports of sustainably certified seafood increased by nearly 25% over the last four years, reflecting the rising global appeal and market potential of sustainable seafood products within the Industry.

Rising Health Consciousness Among Consumers

The growing awareness of the health benefits associated with seafood consumption is driving the Industry. Health Canada reports that the intake of seafood is associated with numerous health benefits, including reduced risks of chronic diseases such as heart disease and stroke. In addition, the Canadian Heart and Stroke Foundation recommends regularly including fish in a balanced diet. This awareness and advocacy by reputable organizations have led to an increase in seafood sales by approximately 15% in the last five years as consumers actively seek out healthier food options.This trend towards health-conscious eating is expected to further drive the market's growth trajectory.

Expansion of Seafood Distribution Channels

The enhancements in distribution channels, including online retailing and specialty seafood markets, are propelling the Industry forward. According to the Canadian Grocery Retailing report, e-commerce sales of food products, including seafood, surged by 32% during the pandemic, illustrating a significant shift in consumer shopping behaviors towards online platforms. Major players in the food industry, such as Loblaw Companies Limited, have invested substantially in their digital infrastructure to improve access to seafood products for consumers across Canada.This evolution in distribution not only makes seafood more accessible but also caters to an increasingly busy population seeking convenience, thereby supporting continued market growth.

Canada Seafood Market Segment Insights

Seafood Market Seafood Type Insights

The Canada Seafood Market is a vital component of the nation's economy, with the Seafood Type segment playing a significant role in its overall growth and dynamism. This segment encompasses various categories, including Cephalopods, Shellfish, Mollusks, Level Fish, Groundfish, Salmonids, Fish, and Pelagic species, each contributing to the diversity and richness of Canada's seafood offerings. Cephalopods, such as octopus and squid, are popular due to their versatile culinary applications, and their consumption has been rising steadily. Shellfish, which includes crustaceans like shrimp and crab, holds a significant market share, primarily driven by their high demand in both domestic and international markets. The rich marine biodiversity of Canada supports abundant seafood resources, facilitating the production of quality shellfish that is a staple in several cuisines.Mollusks, including clams and mussels, are also gaining traction as they offer both nutritional benefits and are relatively sustainable to harvest. Level Fish, a category that refers to various fish types, demonstrates the importance of species diversification in the market, ensuring the supply chain can adapt to changing consumer preferences. Groundfish, such as cod and haddock, remains a cornerstone in many Canadian households, sustaining its steady popularity for its flavor and versatility.Salmonids, particularly Atlantic and Pacific salmon, are highly regarded for their quality and are exported extensively, making them a significant contributor to revenue. Fish species, including trout and perch, provide numerous choices for consumers and fishers alike, while Pelagic fish, which roam the ocean's surface, are sought after for their abundance and role in the food chain. The growth of the is further fueled by increasing health consciousness among consumers, emphasizing the benefits of omega-3 fatty acids found in many seafood types. There is also a noteworthy emphasis on sustainable fishing practices in Canada, with regulatory frameworks in place aimed at preserving fish populations and marine ecosystems. While trade dynamics can be influenced by global events, the local fisheries are navigating growth opportunities, particularly in export markets. As consumer interest shifts towards farm-to-table practices, retaining quality standards and traceability will be crucial for maintaining market trust in the Seafood Type segment. In conclusion, the segmentation around Seafood Type presents a diverse and promising landscape with unique insights into each category's performance and significance within the broader market context, reflecting ongoing trends, challenges, and growth drivers that shape the industry.

   

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Seafood Market Seafood Retail Insights

The Seafood Market Retail segment within the has exhibited notable growth due to changing consumer preferences toward healthy eating and the increasing demand for high-quality seafood. The segment encompasses various categories like Surrounding, Frozen, and Chilled seafood, each playing a vital role in meeting the diverse needs of consumers. The Surrounding category is important as it offers fresh seafood, appealing to health-conscious consumers seeking nutritious options. The Frozen segment, on the other hand, has gained popularity for its convenience and extended shelf life, making it a preferred choice for busy households.Meanwhile, the Chilled category remains significant as it provides premium options that cater to gourmet tastes and dining experiences. Overall, the segmentation reflects a growing trend towards sustainability and responsibly sourced seafood, with consumers increasingly seeking transparency in sourcing and processing. While the market faces challenges such as supply chain disruptions and fluctuating prices, the increasing awareness about the health benefits of seafood and its versatility in various cuisines presents ample opportunities for growth in the coming years.

Seafood Market Seafood Distribution Channel Insights

The Seafood Market Distribution Channel in the plays a crucial role in connecting suppliers to consumers, with a focus on various channels such as Retail, Foodservice, and Institutional. Retail is significant as it caters directly to consumers, shaping purchasing decisions with fresh and diverse seafood options, while Foodservice thrives in the bustling restaurant industry that relies heavily on seafood to appeal to culinary trends and consumer tastes. Institutional distribution caters to larger entities such as schools, hospitals, and corporate offices, fulfilling bulk ordering needs and emphasizing the sustainability and safety of seafood sources.The growth of healthy eating trends has fortified the demand across these channels, with seafood being positioned as a key protein substitute. E-commerce has also become increasingly important in retail, providing consumers with convenient access to seafood products. Key factors such as population growth, rising disposable incomes, and greater awareness of the health benefits of seafood are driving the market dynamics. With these developments, the Seafood Distribution Channel segment remains vibrant and is expected to evolve further in response to changing consumer preferences and market conditions in Canada.

Key Players and Competitive Insights

The Canada Seafood Market is characterized by a highly competitive landscape driven by various factors, including consumer preferences, sustainability concerns, and regulatory challenges. With the rich marine resources surrounding the country, Canada's seafood market is home to a plethora of companies vying for dominance. This competitive arena is shaped by both domestic players and international entities looking to leverage Canada's reputation for high-quality seafood. The market dynamics are further influenced by shifting trends in consumption, which are increasingly leaning towards eco-friendly and sustainably sourced products. Players in this market continuously innovate and adapt their offerings to meet the growing demand for transparency and environmental stewardship. The assessment of these competitive insights reveals a complex web of opportunities and challenges that companies must navigate to achieve success.Cooke Aquaculture stands as a formidable player within the . With a significant market presence, Cooke Aquaculture has established itself as a leader in the production and distribution of farmed seafood, particularly salmon. Their strengths lie in their commitment to sustainable aquaculture practices, innovative farming techniques, and an extensive distribution network that ensures a steady supply of high-quality seafood to consumers across Canada. The company leverages its strong brand reputation while continuously investing in research and development to enhance product quality and sustainability. Their engagement with local communities and adherence to strict regulatory standards also contribute to their strong positioning in the market, establishing them as a trusted source for both consumers and retailers alike.Newfoundland Saltfish Corporation is another significant entity in the , specializing in traditional fish processing and distribution. This company primarily focuses on the production and sale of saltfish, which holds cultural and culinary significance in many Canadian communities. Newfoundland Saltfish Corporation has developed key products such as traditional salt cod and has built a solid market presence rooted in authentic practices and quality control. Their strengths include a robust supply chain, local sourcing of high-quality fish, and strong relationships with both local fishermen and consumers. The company has further enhanced its market position through strategic partnerships and potential mergers that allow for expanded distribution capabilities. By tapping into the growing consumer interest in traditional and sustainably sourced seafood, Newfoundland Saltfish Corporation continues to solidify its presence in the Canadian seafood market, catering to a diverse clientele seeking authenticity and quality in their seafood choices.

Key Companies in the Include

• Cooke Aquaculture


• Newfoundland Saltfish Corporation


• P.E.I. Mussel King


• Glacier Fish Company


• Loblaw Companies


• Aqua Bounty Technologies


• Pacific Seafood


• Cavendish Farms


• R. E. M. Seafood


• High Liner Foods


• Ocean Choice International


• Thad B. Ringer Consulting


• Canadian Fishing Company


• True North Seafood

Industry Developments

Recent developments in the have highlighted significant movements and trends. In August 2023, Cooke Aquaculture, a prominent player in the market, announced plans to expand its operations in British Columbia, focusing on sustainable aquaculture to enhance supply capabilities. Newfoundland Saltfish Corporation has been increasing its exports, particularly to Europe, capitalizing on the growing demand for seafood products. P.E.I. Mussel King reported a surge in business as local mussel harvests improved due to favorable weather conditions, positively impacting their market share. In the context of mergers and acquisitions, Loblaw Companies, in September 2023, acquired a stake in Aqua Bounty Technologies, a move aimed at enhancing their sustainable seafood offerings. In recent years, High Liner Foods has also been focusing on diversifying its product line, while Ocean Choice International is emphasizing sustainable fishing practices, which are shaping consumer preferences. The overall growth in market valuation for companies like Cavendish Farms and True North Seafood reflects an increased awareness of sustainable seafood sourcing, driving innovation and competitiveness in the Canadian seafood landscape.

Segmentation Insights

Seafood Market Seafood Type Outlook

• Cephalopods


• Shellfish


• Mollusks


• Level Fish


• Groundfish


• Salmonids


• Fish


• Pelagic

Seafood Market Seafood Retail Outlook

• Surrounding


• Frozen


• Chilled

Seafood Market Seafood Distribution Channel Outlook

• Retail


• Foodservice


• Institutional

Report Scope

Report Attribute/Metric Source	Details
MARKET SIZE 2018	6.62(USD Billion)
MARKET SIZE 2024	6.7(USD Billion)
MARKET SIZE 2035	8.64(USD Billion)
COMPOUND ANNUAL GROWTH RATE (CAGR)	2.343% (2025 - 2035)
REPORT COVERAGE	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
BASE YEAR	2024
MARKET FORECAST PERIOD	2025 - 2035
HISTORICAL DATA	2019 - 2024
MARKET FORECAST UNITS	USD Billion
KEY COMPANIES PROFILED	Cooke Aquaculture, Newfoundland Saltfish Corporation, P.E.I. Mussel King, Glacier Fish Company, Loblaw Companies, Aqua Bounty Technologies, Pacific Seafood, Cavendish Farms, R. E. M. Seafood, High Liner Foods, Ocean Choice International, Thad B. Ringer Consulting, Canadian Fishing Company, True North Seafood
SEGMENTS COVERED	Seafood Type, Seafood Retail, Seafood Distribution Channel
KEY MARKET OPPORTUNITIES	Sustainable seafood sourcing, E-commerce expansion, Value-added seafood products, Health consciousness trends, Export potential to Asia
KEY MARKET DYNAMICS	Sustainability concerns, Consumer health trends, Regulatory impacts, Growing export demand, Technology advancements
COUNTRIES COVERED	Canada