In 2023, the demand for pulses in Canada stood at approximately 1.53 million metric tons. The forecast data indicates a steady increase in demand from 2024 to 2028, with a year-on-year growth rate averaging around 0.98%. The average annual growth rate (CAGR) over this five-year period is projected to be about 1.01%, showcasing a stable upward trend.
Future trends to watch for include:
- Changes in dietary preferences towards plant-based proteins potentially accelerating demand.
- The impact of global supply chain dynamics on pulse imports and exports.
- Government policies on agriculture that may influence local production and pricing.
