Forecast: Import of Phosphatic Mineral or Chemical Fertilizers to Canada

From 2013 to 2023, Canada's import value of phosphatic fertilizers experienced fluctuations, peaking in 2014 and hitting a notable low in 2015. The market stabilized between 2016 and 2023, with modest annual growth seen from 2019 onwards, reaching a value of $6.4965 million in 2023. The year-on-year variation significantly varied from year to year post-2014, with the most steady period being after 2019. The compound annual growth rate (CAGR) over the last five years was approximately 3.39%.

Forecasts from 2024 to 2028 show continuous growth, with a forecast 5-year CAGR of 0.73%, leading to a value of $6.803 million in 2028. The market is expected to grow at a moderate rate, indicating slight increased demand or price changes for phosphatic fertilizers.

Future trends to watch for include potential changes in agricultural practices, government policies on fertilizers, and international trade conditions that could impact import demands. Additionally, any advances in alternative fertilizer technologies or shifts towards sustainable agriculture could affect future imports.