The demand for beans in Canada is forecasted to steadily increase from 59.0 thousand metric tons in 2024 to 62.0 thousand metric tons by 2027, maintaining this level in 2028. This represents a year-on-year growth rate of approximately 1.67%. The five-year compound annual growth rate (CAGR) calculated on this trajectory is about 1.26%. In 2023, the demand for beans was equivalent to the forecasted figure for 2024, signifying the start of a gradual upward trend from 2024 onwards.
Future trends to watch for include potential shifts in consumer preferences towards plant-based diets, which could drive further demand for beans. Additionally, global trade policies and climate-related agricultural impacts will be crucial in shaping supply and prices in the coming years.
