The Canadian cut flowers production market has experienced fluctuations over the past decade. Production value has steadily declined from 2013 to 2020, hitting a low in 2020 at 271.84 million. However, from 2021 onwards, there has been a noticeable recovery, with continued growth leading up to 326.58 million in 2023. This represents a 2.83% year-on-year increase in 2023. The Compound Annual Growth Rate (CAGR) over the last five years has been 1.97%, indicating a general recovery in production.
Looking ahead, the forecasted data suggests a positive trend, with production values expected to increase each year, reaching 370.86 million by 2028. The anticipated CAGR over the next five years is 2.02%, translating to a growth of 10.5% from 2024 to 2028. Key factors to watch for future trends include advancements in horticultural technologies, shifts in consumer preferences towards eco-friendly products, and potential impacts of climate change on agricultural yields.
