The import of printed reading books, excluding dictionaries, into Canada is projected to continuously decline from 2024 through 2028. Starting at $946 million in 2024, the forecast indicates a decrease to approximately $905 million by 2028. This represents a consistent year-on-year contraction in value, reflecting ongoing challenges in the printed book market influenced by digital transformation and changing consumer preferences. In 2023, the import value was similar, evidencing a negative growth trend over the years. Over a five-year period, the compound annual growth rate (CAGR) suggests a steady decline.
Future trends to monitor include the impact of digitalization on printed book demand and potential shifts in consumer behavior as digital formats gain popularity. Environmental sustainability concerns might also drive changes in publishing practices, potentially affecting import volumes and values. Additionally, policy changes and trade agreements could further influence market dynamics.
