91¶¶Òù

Seafood is considered a luxury good, meaning its demand is highly correlated with consumers' disposable incomes. Recovering economic conditions typically bolster seafood sales, though environmental issues can limit consumption regardless of income growth. Because marine habitats are fragile, contamination events, including petrochemical spills, can kill wildlife and introduce health risks that discourage shoppers. At the same time, seafood's reputation as a high-protein, low-fat alternative to red meat continues to support demand among health-conscious consumers. Per capita seafood consumption is forecast to climb 2.2% to reach 7.6 kilograms in 2026, as rising meat prices encourage cost-conscious buyers to substitute toward fish and shellfish. This increase caps a volatile stretch for the category, with per capita consumption still down at a compound annual rate of 1.5% since 2021, underscoring how inflation and shifting sentiment have weighed on discretionary seafood spending. A steady economic recovery has underpinned much of the rebound in per capita seafood consumption over the past five years, as consumers have grown more comfortable spending on discretionary grocery items after early-pandemic disruptions. Domestic producers played a supporting role by keeping catch volumes stable, which helped temper fish price growth even as broader inflationary pressures took hold. Fish prices grew 5.4% in 2022, according to Statistics Canada data, a smaller increase than the price growth recorded for other grocery staples, including meat, fruit and eggs. That price gap made seafood comparatively more attractive to cost-conscious shoppers, reinforcing its appeal alongside its standing as a lean, high-protein alternative to red meat. Despite these gains, per capita seafood consumption has not fully recovered the ground lost earlier in the period. Recessionary fears curbed spending on discretionary items, including seafood, before rising meat prices helped revive demand in the years that followed. Elevated grocery prices have broadly made consumers more price-sensitive, prompting some to trade down to cheaper protein sources even as others traded up to seafood for its price advantage relative to meat.