In 2023, the import value of hop cones to Canada stood at 57 million USD, based on actual data. From 2024 to 2028, the forecast shows a steady annual increase between 3% and 4% year-on-year, indicating a consistent growth trajectory in hop cone imports. The compound annual growth rate (CAGR) over these five years is approximately 4%.

Future trends to watch for include:

Potential impacts of climate change on hop production affecting supply and pricing.
The growing craft beer industry in Canada may drive increased demand for unique hop varieties.
Trade agreements or tariffs that could influence import costs and sourcing strategies.