The volume of Canadian pork preparations exported to the US has been steadily increasing. In 2023, exports stood at 19.63 thousand metric tons. Over the past three years (2021-2023), the annual growth rates were 4.66%, 4.42%, and 4.19% respectively, marking a deceleration in growth. The Compound Annual Growth Rate (CAGR) from 2018 to 2023 was 5.55%, indicating a healthy growth trend overall.
Over the long-term period from 2013 to 2023, the trend showcases initial decline till 2015, followed by a consistent upturn, especially from 2018 onwards. Looking forward, the forecasted 5-year CAGR from 2024 to 2028 is 2.82%, indicating expectations of continued growth, though at a slower rate compared to the past five years. The forecasted total growth rate over these five years is 14.93%.
Future trends to watch for include:
- Potential impacts of US trade policies on Canadian exports.
- Variations in global pork supply chains and their impacts on North American markets.
- Technological and regulatory changes in the pork industry that could affect production and export capacities.
