In 2023, Canada's soybean oil distribution was estimated at approximately 612 thousand metric tons. The forecast data indicates a steady increase in distribution, with values rising from 620 thousand metric tons in 2024 to 653 thousand metric tons by 2028. The year-on-year variations are moderate, suggesting stable growth. Over the five-year period, the compound annual growth rate (CAGR) is estimated to reflect a consistent upward trend, underpinning robust demand or supply chain improvements within this segment.
Future trends to watch for:
- Potential policy changes affecting agriculture and trade.
- Technological advancements in soybean oil extraction.
- Emerging consumer preferences for alternative oils or sustainable practices.
