Between 2013 and 2023, the Value Added of Wood Product Manufacturing in Canada experienced fluctuations but showed a general upward trend. Values started at 9.6614 billion CAD in 2013 and increased to 17.194 billion CAD in 2023, marking significant growth. Notable peaks occurred in 2017 and 2020, with the value for 2023 reflecting a year-on-year increase of 4.83%. The compound annual growth rate (CAGR) over the last five years stands at 2.31%.

For the forecasted period from 2024 to 2028, the Value Added is projected to continue rising, reaching 21.035 billion CAD by 2028. The forecasted 5-year CAGR is estimated at 3.19%, suggesting steady growth with an overall forecasted 5-year growth rate of 17.01%.

Future trends to watch for:

Potential impact of technological advancements on manufacturing efficiency and output.
The influence of global trade policies and tariffs on the export of wood products.
Environmental regulations and sustainability practices affecting the industry.
Market demand shifts due to changes in construction activities and housing markets.