In 2023, Canada's pulses production stood at 2.75 million metric tons. For the forecasted period from 2024 to 2028, we observe a consistent growth in production from 2.77 to 2.85 million metric tons. Year-on-year variation shows a steady increase of approximately 0.72% annually. The compound annual growth rate (CAGR) over these five years is approximately 0.72%, indicating modest growth momentum in the industry.
Future trends to watch for include:
- Technological advancements in agriculture that could enhance yield efficiency.
- Potential impacts of climate change on pulse cultivation regions.
- Shifts in global market demand, particularly from plant-based protein sectors.
- Policy changes influencing agricultural practices and trade.
