In 2023, the import of Works of Art, Collectors Pieces and Antiques to Canada stood at a value yet to be indicated for analysis. Moving forward, from 2024 to 2028, forecasts show a steady increasing trend in import values, from $288.86 million in 2024 to $309.31 million by 2028. Evaluating the year-on-year percentage variation, the forecast indicates gradual increments, suggesting a stable upward trajectory in the demand for these imports.
Analyzing the compounded annual growth rate (CAGR) over these five years yields an average annual growth rate which supports the sustained interest and investment in the art and antique market.
Future trends to watch for include the impact of global economic conditions on disposable incomes and luxury investments, shifts in cultural policies that may affect imports, and advancing digital platforms enhancing art acquisition and valuation processes. Additionally, the rising interest in digital art forms like NFTs could redefine the landscape of art and collector piece imports.