In 2023, Canada’s pigmeat production stood at 2.91 million metric tons. Over the past two years, the industry experienced consistent year-on-year growth, with a 1.55% increase in 2022 and a 1.51% rise in 2023. The last five years exhibited a Compound Annual Growth Rate (CAGR) of approximately 1.95%, underscoring stable upward trends despite minor fluctuations primarily attributable to market dynamics and external factors.
From 2024 onward, forecasted data suggests continued gradual growth in pigmeat production, aiming to reach 3.12 million metric tons by 2028. This would represent a 5.66% growth over five years with a forecasted 5-year CAGR of 1.11%, indicating a slowing yet consistent rise in production levels.
Future trends to watch for include potential impacts from global trade policies, technological advancements in animal husbandry, shifts in consumer demand towards alternative proteins, and evolving environmental regulations which could influence production efficiency and costs.
