In 2023, Canada's Food Gross Production stood at an estimated XX Billion US Dollars PPP. The forecasted data from 2024 to 2028 shows a steady increase in food gross production, starting at 48.56 Billion US Dollars PPP in 2024 and reaching 49.984 Billion US Dollars PPP by 2028. This reflects a consistent year-on-year growth with small increments annually:
Year-on-year variations:
- 2024-2025: 0.74%
- 2025-2026: 0.73%
- 2026-2027: 0.72%
- 2027-2028: 0.72%
The Compound Annual Growth Rate (CAGR) for this period is approximately 0.71%, indicating a sustained modest growth over these five years. This long-term trend points towards gradual but steady expansion in the sector.
Future trends to watch for include the impact of technological advancements in agriculture, climate change effects on crop yields, and shifts in global trade policies that could disrupt food production and distribution. Additionally, increasing consumer demand for sustainable and organic products may also play a significant role in shaping the food production landscape.