Agricultural products and livestock output in Canada have demonstrated both volatility and growth over the past decade. From 2013 to 2020, there were notable fluctuations, with values ranging from 66.95 billion to 82.95 billion Canadian Dollars. An exceptional spike occurred in 2021, with a year-on-year increase of 48.92%, reaching 123.54 billion CAD. In 2023, the output was 133.69 billion CAD, reflecting a relatively steady growth with a 3.93% year-on-year increase. The 5-year CAGR from 2018 to 2023 is 11.82%, highlighting significant overall growth.
The forecast for 2024 and beyond shows continued growth, albeit at a slower pace, with expected outputs reaching 158.19 billion CAD by 2028. The projected 5-year CAGR is 2.67%, indicating a more moderate expansion compared to the previous period. Future growth rate for this period includes a total increase of 14.06%.
Key trends to watch include the impact of technological advancements in farming, climate change effects, trade policy shifts, and evolving consumer preferences for sustainable and locally-sourced products. Monitoring these factors will be crucial for anticipating shifts in agricultural and livestock outputs.
