From 2013 to 2023, the revenue of Canada's pulp, paper, and paperboard mills industry exhibited fluctuations but generally trended upward. Starting at 14.907 billion CAD in 2013, the industry peaked in 2018 at 20.256 billion CAD before experiencing a dip in 2020 to 16.26 billion CAD amid market challenges. Recovery was witnessed, reaching 22.022 billion CAD by 2023.
Year-on-year changes include notable peaks and troughs, such as a 15.42% increase in 2018 and a significant 14.3% decline in 2020. The industry's performance over the last five years shows a modest average annual growth rate (CAGR) of 1.69% from 2019 to 2023.
Forecasts project continued growth with revenue expected to reach 25.615 billion CAD by 2028, with a forecasted 5-year CAGR of 2.37% indicating steady progression and a total growth of 12.43% over this period.
Future trends to watch for include advancements in sustainable practices, potential technological innovations in production processes, and fluctuations in demand driven by changes in consumer preferences and global trade dynamics. Monitoring these factors can provide insights into the industry's mid to long-term trajectory.
