In 2023, honey production in Canada stood at 40.57 thousand metric tons. From real historical data, the overall trend from 2013 to 2023 shows a peak in 2017 followed by a general decline, though there was a notable increase in 2021 and 2023. The year-on-year variation for 2022 was a decline of 15.58%, while 2023 saw a positive variation of 14.51%. Over the last five years, the compound annual growth rate (CAGR) has been negative at -2.16%.
Looking ahead, the forecasted data for 2024 to 2028 suggests a stabilization in honey production with a slight annual growth. The five-year CAGR is projected at 0.19%, indicating modest growth, while the total growth rate over the same period is expected to be 0.96%.
Future trends to watch for:
- Impact of climate change on honey production.
- Changes in agricultural policies and regulations.
- Advancements in beekeeping technologies.
- Market demand fluctuations and consumer preferences.
