The import of fixed vegetable fats and oils to Canada is projected to increase from $116.55 million in 2024 to $127.57 million by 2028. Compared to previous years, the figures for 2023 are crucial to set a baseline, although they are not provided here. The year-on-year growth across the forecasted period indicates a steady increase in imports, as the values rise incrementally each year, showcasing a continuous demand. This trend is reflected in a cumulative annual growth rate (CAGR) which would provide an overview of the average increase over these years.
Future trends to watch for include shifts in consumer preferences towards healthier oils, which could affect the types and volumes of oils imported. Additionally, geopolitical factors, trade agreements, and changes in domestic production capacities could influence import levels. Environmental sustainability and innovation in plant-based oils will likely shape market dynamics.
