In 2023, actual product expenses in agriculture in Canada stood at 1.112 billion Canadian Dollars. From 2024 to 2028, forecasted data shows a steady increase: 1.1323 billion in 2024, 1.153 billion in 2025, 1.1735 billion in 2026, 1.1937 billion in 2027, and 1.2138 billion in 2028. The year-on-year variation in percentage indicates consistent growth.
Key annual growth rates are as follows:
- 2024: up by 1.82% from 2023
- 2025: up by 1.82% from 2024
- 2026: up by 1.78% from 2025
- 2027: up by 1.73% from 2026
- 2028: up by 1.68% from 2027
The Compound Annual Growth Rate (CAGR) for the period 2024-2028 is approximately 1.75%.
Future trends to watch for include technological advancements in agritech, shifts in commodity prices, environmental regulations, and potential impacts of climate change on crop yields and farming expenses.
