As of 2024, the forecasted demand for rapeseed oil and mustard oil in Canada shows a steady growth trend. In 2023, the demand stood at 946,000 metric tons. The forecasted values for the years 2024 to 2028 are as follows:
The year-on-year variations are as follows:
- 2024 to 2025: 0.89%
- 2025 to 2026: 0.87%
- 2026 to 2027: 0.84%
- 2027 to 2028: 0.82%
The Compound Annual Growth Rate (CAGR) for the period from 2024 to 2028 is approximately 0.86%. This trend indicates a consistent rise in demand, reflecting steady market growth and consumer preference.
Future trends to watch for:
- Emergence of new dietary trends and health consciousness driving up demand.
- Potential impact of global trade policies and tariff adjustments.
- Advancements in oil extraction technology improving production efficiency.
- Environmental and sustainability concerns influencing consumer choices.
