In 2023, the production of indoor potted orchids in Canada stood at 6.431 million units, revealing a slight decline of -1.68% year-on-year. Over the past two years, the industry observed a robust cumulative growth rate of 10.52% in 2022 and a 75.93% surge in 2021. Analyzing the long-term trend from 2013 to 2023, the industry witnessed significant fluctuations but maintained a CAGR of 15.19% over the last five years.
Going forward, while the forecast indicates a slight decline with a negative 5-year CAGR of -1.33% through 2028, several future trends to watch for include:
- Advances in horticulture technology may boost production efficiency.
- Increasing consumer interest in indoor gardening could spur demand.
- Environmental regulations and sustainability practices may impact production methods.
