In 2023, the re-import of live horses to Canada, excluding pure-bred breeding, was recorded at 620.00 thousand USD. The forecast for 2024 onwards shows a steady increase, with values rising to approximately 766.81 thousand USD by 2028. Year-on-year growth rates are expected to remain consistently positive, with percentages of around 4.5% for each year, reflecting a healthy incremental trend.
The compound annual growth rate (CAGR) anticipated for the period from 2024 to 2028 is approximately 4.15%, indicating a gradual but steady upward trend in the market. This growth is primarily driven by anticipated increased demand and specific policy changes favoring horse importing activities.
Future trends to watch include potential policy shifts regarding international animal transportation, economic conditions affecting import affordability, and changes in demand for non-breeding horses. Close attention should be paid to regulatory adjustments and their impacts on trade as these could alter the market landscape considerably.
