Forecast: Fertilizer Consumption in Canada

The forecast for fertilizer consumption in Canada from 2024 to 2028 indicates a steady annual increase in usage, rising from 130.45 to 136.66 kilograms per hectare of arable land. The year-on-year growth rates are projected as follows: 1.2% from 2024 to 2025, 1.2% again from 2025 to 2026, 1.2% from 2026 to 2027, and finally, 1.1% from 2027 to 2028, reflecting a consistent upward trend.

In 2023, fertilizer consumption was noted at N/A kilograms, marking the last available actual data point. Over the five-year period from 2024 to 2028, the compounded annual growth rate (CAGR) is anticipated to be 1.2%.

Future trends to observe include:

• Changes in agricultural policies affecting fertilizer subsidies or restrictions.
• Technological advancements in precision agriculture that might alter fertilizer application rates.
• Environmental concerns and sustainability practices influencing fertilizer usage.