In 2023, Canada experienced an actual oilseed demand of 14.44 Million Metric Tons. The forecasted demand sees a steady growth from 2024 onwards, starting at 14.64 Million Metric Tons and increasing annually to reach 15.43 Million Metric Tons by 2028. The year-on-year variation shows a consistent increase of approximately 1.38% to 1.31% annually. Over the five-year period, the compound annual growth rate (CAGR) averages around 1.34%.
Future trends to watch for:
- Impact of climate change on yield and oilseed production.
- Innovations in agricultural technologies enhancing productivity.
- Trade policies affecting imports and exports.
- Consumer preferences shifting towards plant-based oils for sustainability reasons.
