The demand for cottonseed in Canada, expressed in thousand metric tons, has shown significant variability over the last decade. From 2014 to 2016, the demand decreased from 5.0 to 4.0 thousand metric tons, followed by a sharp increase to 7.0 thousand metric tons in 2017 and continuing to climb to 9.0 thousand metric tons by 2018. This level was maintained consistently through 2022 before rising to 10.0 thousand metric tons in 2023, marking an 11.11% year-on-year increase. Over the past five years, the compound annual growth rate (CAGR) was 2.13%.
Looking forward, the forecasted data predicts a steady rise in demand, reaching 11.0 thousand metric tons by 2028. This period anticipates a forecasted 5-year CAGR of 1.92%, translating to a cumulative growth rate of 10% from 2024. Key trends to monitor include potential impacts from shifts in agricultural policies, climatic changes affecting crop yields, and evolving market demands driven by the biofuel industry or changes in dietary preferences. These factors could significantly influence cottonseed consumption and market dynamics in the coming years.
