The sales of greenhouse cut flowers in Canada, expressed in millions of Canadian dollars, showed fluctuating trends between 2013 and 2023. The market experienced significant declines from 2015 to 2017 but started to recover gradually from 2018 onwards. Notably, a sharp increase was seen in 2021, with year-on-year growth of 16.61%, followed by 10.65% in 2022. As of 2023, the sales stood at 178.82 million CAD, with a modest annual growth rate of 0.62% and a 5-year Compound Annual Growth Rate (CAGR) of 6.06%.
- The 5-year CAGR from 2024 to 2028 is forecasted to be 0.5%, indicating a lower annual average growth rate than the previous period.
- The forecast suggests a steady but slow growth of 2.54% over the next five years.
Future trends to watch for include potential shifts in consumer preferences towards sustainable and locally-grown flowers, the impact of climate change on production capabilities, and the role of technological advancements in greenhouse farming that could influence market growth.
