Canada's wheat demand saw fluctuations over the past decade, with notable growth periods and minor declines, particularly a surge in 2016 by 28.02%. In 2023, it stood at 8.52 million metric tons, reflecting a modest 1.22% year-on-year increase. The previous five years showed an average annual growth of 1.43%.
From 2024 onwards, the forecast indicates a stable increase in wheat demand, averaging a 0.87% annual growth rate over five years, cumulating in a 4.44% total growth by 2028, projecting to reach 9.01 million metric tons.
Future trends to monitor include changes in agricultural policies, climate impacts on yield, technological advancements in farming, and shifts in domestic and global consumption patterns. Additionally, trade policies and international market dynamics could significantly influence demand projections.
