The raw sugar equivalent market size volume in Canada was at 1.25 million metric tons in 2023. The year-on-year variation showed minimal change over the last two years, specifically 0.4% from 2021 to 2022 and 0.32% from 2022 to 2023. Observing the period from 2014, there were fluctuations with significant growth in 2018 (4.62%) and slight declines in certain years, such as -1.16% in 2017. The Compound Annual Growth Rate (CAGR) averaged 0.13% over the last five years.
Future market trends to watch for include an anticipated steady increase, with a forecasted CAGR of 0.27% from 2023 to 2028. This suggests a continued modest growth trajectory, projected to reach 1.28 million metric tons by 2028. Monitoring changes in consumer preferences, potential shifts towards alternative sweeteners, and regulatory impacts on sugar consumption will be crucial for market participants.
