In 2023, the gross income of agricultural products and livestock in Canada stood at significantly lower levels than the projections for subsequent years. The forecast period from 2024 to 2028 shows a steady increase, with projected values escalating from 12.39 to 13.47 billion Canadian Dollars—reflecting a consistent year-on-year growth averaging around 2.1%. The Compound Annual Growth Rate (CAGR) over these five years is anticipated to hover around 2.1%, indicating moderate growth in the sector.

Future trends to watch for:

Climate change impacts on crop yields and livestock health, potentially affecting overall income.
Technological advancements in agriculture to improve efficiency and output.
Shifts in global market demand and trade policies influencing Canadian exports.
Changes in domestic consumption patterns, particularly with increasing preferences for sustainable products.