The import of fresh or chilled boneless sheep cuts to Canada in 2023 stood at an actual value of 19.064 million USD. The forecast for 2024 shows an expected increase to 19.484 million USD, marking a year-on-year increase of approximately 2.2%. This upward trend is projected to continue, with a 2.73% rise in 2025, reaching 20.017 million USD. Subsequent years further suggest a steady climb, with values of 20.539 million USD in 2026 and 21.051 million USD in 2027, culminating in 21.553 million USD by 2028. The compound annual growth rate (CAGR) from 2023 to 2028 is anticipated to be roughly 2.5%.
Future trends to watch for include potential impacts of changes in trade policies, shifts in consumer demand towards alternative protein sources, and any currency fluctuations that may influence import costs. Additionally, increased focus on sustainability and animal welfare could also affect market dynamics.
