The Wood Product Manufacturing Opening Inventories in Canada have shown a steady increase in value from approximately 3.62 billion CAD in 2013 to 6.45 billion CAD in 2023. The period experienced fluctuations with notable increases such as a 12.24% rise in 2014 and a significant 19.88% rise in 2019. Some downturns occurred, like the -4.76% decrease in 2020, but overall, the inventory values have trended upwards, with a Compound Annual Growth Rate (CAGR) for the past 5 years standing at 5.86%. Variations over the last few years include a consistent rise, with the year-on-year increase in 2023 being 4.23%.
Looking forward, the forecast indicates continuous growth, with values expected to reach 7.72 billion CAD by 2028. The forecasted 5-year CAGR is 2.85%, contributing to an overall 15.08% growth rate for this period. Future trends to watch include market factors influencing supply chains, wood product demand fluctuations, and any significant policy or economic changes impacting the sector.
