In 2023, Canada's import of essential oils of lemon stood at approximately 9.2 million US dollars. From 2024 to 2028, forecasts indicate a steady upward trend, growing to 9.54 million US dollars by 2028. This represents a modest year-on-year increase, with a compound annual growth rate (CAGR) of around 0.75% over the five-year period. Such growth suggests a stable demand trajectory consistent with historical trends.
Future trends to watch for include:
- Changes in consumer preferences toward natural and organic products.
- Potential impact of trade policies and tariffs on lemon essential oil imports.
- Technological advances in extraction and production methods that may affect supply chains.
- Environmental factors impacting lemon production globally, which could influence import prices.