In 2023, Canada's import of essential oils of orange stood at $10.03 million. Forecasts from 2024 to 2028 depict a gradual decline in import values, starting at $9.96 million in 2024 and tapering off to $9.66 million by 2028. The year-on-year variation shows a consistent negative trend with small decreases each year. This suggests a slight but steady reduction in import dependency or possible shifts in domestic production.
Future trends to watch for:
- Developments in domestic production capacity of essential oils within Canada.
- Potential changes in consumer demand for natural health products and the impact on essential oil imports.
- Trade policy adjustments and their effects on cost and imports from major producers like Brazil and the United States.