The data on pesticide, fertilizer, and other agricultural chemical manufacturing expenses in Canada from 2013 to 2023 indicates a gradual increase in expenses with a notable peak in 2016. While the rate of increase varies annually, the most recent data from 2023 shows a value of 5.6287 billion Canadian dollars, with a year-on-year variation of 1.03%. Over the past five years, the compound annual growth rate (CAGR) has been 0.37%, reflecting a fairly stable market with slight growth.
Looking at the forecast data from 2024 to 2028, expenses are expected to continue rising modestly, reaching 5.9082 billion Canadian dollars by 2028. The forecasted five-year CAGR stands at 0.77%, indicating consistent but slow growth. The overall forecasted five-year growth rate is 3.91%.
Future trends to watch for include advancements in sustainable agricultural practices, changes in government policies regarding chemical usage, potential disruptions in supply chains, and shifts in global agricultural trade patterns. These factors could significantly influence manufacturing expenses in the sector.
