Over the past decade, the supply of refined sugar in Canada has shown a steady upward trend. From actual data, the supply increased from 1.68 million metric tons in 2013 to 1.94 million metric tons in 2023. The year-on-year variation for 2023 was a modest 0.38%. Looking at the compound annual growth rate (CAGR) over the last five years, which stands at 1.71%, it suggests a gradual but consistent increase in the refined sugar supply.
Forecasted data for 2024 to 2028 show a continued upward trend, with the supply expected to reach 2.0 million metric tons by 2028. The forecasted five-year CAGR is 0.42%, indicating a slower pace of growth compared to previous years. This aligns with a forecasted five-year growth rate of 2.12% by 2028.
Future trends to watch for include potential impacts of health-conscious consumer behaviors, government regulations on sugar content in food, advancements in sugar alternative products, and international trade policies that could affect the supply chain and import/export dynamics.
