In 2023, the export volume of cocoa beans in Canada stood at 18,000 metric tons. The year-on-year growth rate was 5.88%, continuing the expansion observed since 2021. The historical volume showed fluctuations, from 8,000 metric tons in 2014 to 18,000 metric tons in 2018, followed by a steady rise into the current decade. The five-year compound annual growth rate (CAGR) from 2019 to 2023 is calculated at 13.4%, showing a robust upward trend. Looking at forecasts, the expected CAGR is 2.02% from 2024 to 2028, indicating moderate growth anticipated in the near future.
Future trends to watch for include:
- Supply chain dynamics that might impact export capabilities.
- Global demand shifts potentially increasing export volume.
- Policy changes impacting agricultural exports.
- Emergence of sustainable and ethical sourcing impacting market preference.
