From 2013 to 2023, the revenue in the fertilizer manufacturing industry in Canada experienced various fluctuations. In 2013, the industry saw a significant decline of 9.7%, followed by a recovery phase with an 8.03% increase in 2014 and a 5.58% increase in 2015. However, revenue took a downturn in 2017 with a notable drop of 6.61%. The subsequent years observed slight variations, with annual decreases ranging from 0.68% to 0.71% up to 2022. By 2023, the revenue stood at CAD 4.3082 billion, marking a subtle decline of 0.67% from the previous year. The average compound annual growth rate (CAGR) over the last five years is -0.69%. Looking forward to 2028, the forecasted CAGR suggests a continued mild decline at an annual rate of -0.57%, ultimately leading to a total decrease of 2.8% over this period.
Future trends to watch for include shifts in agricultural practices towards more sustainable and environmentally friendly methods, which may affect fertilizer demand. Additionally, technological advancements in fertilizer production and potential regulatory changes could also play a significant role in revenue shifts in the coming years.
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Fertilizer in United States - 2024 Q4
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