The sector saw significant fluctuations, with the most considerable year-on-year change being -13.59% in 2016. The inventory levels dropped from 2.2733 billion CAD in 2017 to 2.7587 billion CAD by 2020, showing minor variations yearly but averaging a growth of 0.21% CAGR up to 2023. Forecasts predict a moderate upwards trend with a 5-year CAGR of 1.3%, resulting in a 6.69% growth from 2023 to 2028.
Future Trends to Watch
Keep an eye on technological advancements in machinery and fluctuating commodity prices, which could impact inventory levels. Also, government policies and international trade agreements will likely play a crucial role in shaping future trends.
