In 2023, the import value of milling products, malt, starches, inulin, and wheat gluten to Canada was recorded at 323.40 million US dollars. The forecast for 2024 suggests a modest increase to 328.15 million US dollars, followed by continued growth through 2028, reaching 349.06 million US dollars. The yearly growth rates stand at approximately 1.64% to 1.47%, indicating a steady but gradually slowing increase. The compound annual growth rate (CAGR) over the next five years is expected to be around 1.57%, highlighting a consistent demand increment with minimal fluctuation.
Future trends to watch for include:
- Impact of increasing demand for gluten-free and alternative grain products on imports.
- Potential effects of currency fluctuations and trade policies on import costs.
- Development of local production capabilities that may alter the reliance on imports.
- Consumer preference shifts towards more health-conscious and sustainable products.
