Based on the forecasted data from 2024 to 2028, biomass consumption in Canada shows a very modest upward trend. In 2023, the baseline value for biomass consumption stood at 24.13% of Domestic Material Consumption. Year-on-year, the values indicate incremental increases: 2024 (0.21%), 2025 (0.25%), 2026 (0.21%), 2027 (0.21%), and 2028 (0.21%). The two-year variation averages around 0.23%, while the Compound Annual Growth Rate (CAGR) over the five-year forecast period is a steady 0.21%.
Future trends to watch for include technological advancements in biomass conversion processes, government policies promoting renewable energy, and shifts in domestic and global energy demands. These factors could significantly impact the trajectory of biomass consumption in Canada in the coming years.
