Between 2013 and 2023, the closing inventories for Cutlery and Hand Tool Manufacturing in Canada fluctuated significantly. The inventory value in 2023 stood at 86.49 million CAD. The period saw initial sharp drops in 2014 (-42.38%) followed by a substantial climb in 2016 (51.91%) and a peak in 2018 with 28.22% year-on-year growth. Subsequent years from 2019 to 2023 show steady decline trends: 2019 (-8.01%), 2020 (-3.76%), 2021 (-1.94%), 2022 (-4.65%), and 2023 (-4.83%). Compound Annual Growth Rate (CAGR) over the last five years (2018-2023) was -4.66%.
The forecast indicates a continual downward trajectory with the inventories expected to decline at a CAGR of -4.52% over the next five years, reaching an anticipated 65.19 million CAD by 2028.
Future trends to watch for include external market disruptions, changes in consumer demand, technological advancements in manufacturing, and potential policy changes that could impact production and inventory levels.
