The import volume of fresh bananas in Canada stood at 587.21 thousand metric tons in 2023. Analyzing the year-on-year growth and trends reveals variability, with notable years showing fluctuations, such as a -2.55% change in 2022 followed by a recovery of 2.74% in 2023. Over the last five years, the compound annual growth rate (CAGR) has been modest at 0.34%.
From 2013 to 2023, the highest year-on-year increase was in 2013 at 5.77%, with a general trend of slowing growth rates observed thereafter. The forecast for the next five years suggests a modest growth rate with a forecasted CAGR of 0.72%, marking a total 3.65% increase by 2028.
Future Trends to Watch For:
- Potential impact of climate change on banana production and supply from major export countries.
- Shifts in consumer preferences toward organic or fair-trade products.
- Changes in trade policies or tariffs affecting import costs and volumes.
- Technological advancements in logistics and storage improving banana shelf-life and reducing waste.
