In 2023, the import value of fungicides to Canada was $326 million. The forecast for 2024 shows an increase to $328.81 million, growing by approximately 0.86% from the previous year. This upward trend is expected to continue, with year-on-year growth reaching about 0.91% in 2025 and slightly tapering to 0.88% by 2028. The compound annual growth rate (CAGR) from 2024 to 2028 is estimated to be around 0.9% annually, reflecting steady expansion in imports of fungicides over the forecasted period.
Future trends to watch:
- Potential changes in agricultural practices or regulatory requirements influencing demand for fungicides.
- The impact of technological advancements in pesticide alternatives could affect import trends.
- Global supply chain dynamics that might alter import sourcing and pricing.
