The historical data for cottonseed oil processing in Canada shows a fluctuating trend from 2014 to 2023, with significant dips and peaks. The volume stood at 6.0 thousand metric tons in 2023, reflecting a stagnant trend since 2019. The year-on-year variation remained 0% over the last two years, and the CAGR over the last five years was -3.04%. Notable variations include a sharp decline in 2016 followed by recovery in subsequent years.
Looking forward, forecasted data from 2024 to 2028 suggests a stable trend with no significant growth or decline expected, maintaining a consistent volume of 6.0 thousand metric tons annually. The forecasted 5-year CAGR is 0%, indicating no expected growth in this industry during the period.
Future trends to watch for include potential shifts in agricultural yield, changes in domestic and international demand for cottonseed oil, and impacts of environmental regulations on processing industries. Monitoring global oilseed market dynamics and technological advancements in oil extraction could also be crucial.
