Based on the data, the demand for cottonseed oil in Canada stood at 8.0 Thousand Metric Tons (TMT) in 2023. Over the last decade, demand exhibited significant fluctuations: declining sharply by 42.86% in 2016 but experiencing a recovery with an 80% year-on-year increase in 2018. From 2019 onward, demand stabilized around 8.0 TMT, with minor yearly variations. The compound annual growth rate (CAGR) from 2018 to 2023 was -2.33%, indicating a slight overall decline.
Future demand is forecasted to grow minimally, with a projected 5-year CAGR of 0.44% from 2024 to 2028, reaching around 8.26 TMT in 2028. Future trends to watch include potential impacts from health trends reducing oil consumption and changes in agricultural policies or innovations affecting cottonseed oil production and availability.
