The import of cashew nuts to Canada has shown significant fluctuations over the last decade, beginning with a value of $82.647 million in 2013 and escalating to $139.87 million in 2023. Over this period, the market experienced year-on-year increases, peaking in 2017 with a 16.24% jump, followed by some declines such as the -12.21% in 2019. More recently, imports grew steadily, achieving a 3.05% increase in 2023. The historical five-year CAGR ending in 2023 was 1%, while the projected five-year CAGR through 2028 is slightly higher at 2.06%.
Looking ahead, the forecast suggests continued growth in the imports of cashew nuts, with an expected value of $159.39 million by 2028. Future trends to watch for include potential shifts in global trade policies, fluctuations in cashew nut production due to climate changes, and evolving consumer preferences towards nut-based products. Additionally, monitoring emerging markets and their potential influence on global cashew nut prices will be crucial for stakeholders.
