Analyzing the sales of processed mushrooms in Canada, it is evident that the market faced significant volatility from 2013 to 2023. Sales peaked at 13.23 Thousand Metric Tons in 2023, after a dramatic drop to 3.27 thousand metric tons in 2015. Since 2020, there has been a steady increase, with a notable rise in sales in 2020 (+52.26%), and then consistent smaller year-on-year growth (+0.43% in 2022, +0.17% in 2023). Over the last five years, the Compound Annual Growth Rate (CAGR) stood at 9.43%.
Looking forward, the forecasts from 2024 onwards predict continued modest growth. The forecasted CAGR for the next five years is 0.99%, resulting in a cumulative growth rate of 5.07% by 2028. Future trends to watch for include:
- Increasing consumer demand for convenience foods- Potential shifts in dietary trends towards plant-based products- The impact of supply chain developments and import-export dynamics
