From 2013 to 2023, the import of citrus fruit to Canada demonstrated a general upward trend, growing from 481.31 million USD in 2013 to 631.42 million USD in 2023. The Compound Annual Growth Rate (CAGR) over this period showed a modest increase of 3.34% in 2013 but decreased to 0.63% by 2023, indicating a slowing growth rate. Notable variations included a significant decrease of 7.44% in 2019. Year-on-year growth has been relatively steady around 1.88% in 2023.
Looking forward to the forecast period from 2024 to 2028, the imports are expected to continue a gradual increase, reaching 686.42 million USD by 2028. The forecasted 5-year CAGR is 1.32%, with an overall growth rate of 6.77% over this period. Despite the expected growth, the rate remains moderate, suggesting market saturation or other limiting factors.
Future trends to watch for:
- Economic variables that could impact consumer spending and import capacity.
- Global supply chain shifts that might affect the availability and cost of citrus fruits.
- Potential trade policy changes impacting import tariffs and regulations.
- Consumer preferences shifting towards local or alternative fruits, impacting demand.
