As of 2024, the forecasted production of molasses in Canada begins at 14.24 thousand metric tons. Compared to the previous years' actual data, production is on a declining trajectory. By 2025, the production is expected to decrease to 13.82 thousand metric tons, marking a year-on-year decrease of approximately 2.95%. This trend continues with the production falling to 13.4 thousand metric tons in 2026, 12.99 thousand metric tons in 2027, and 12.59 thousand metric tons in 2028. This results in average annual declines of around 3%.
Key variations over the last two years and significant trends:
- 2024 to 2025: -2.95%
- 2025 to 2026: -3.04%
- 2026 to 2027: -3.06%
- 2027 to 2028: -3.08%
The Compound Annual Growth Rate (CAGR) over the last five years forecasting period is approximately -3%, indicating a steady declining trend.
Future trends to watch for in the molasses production industry in Canada may include:
- Changes in agricultural policies and their impact on sugarcane and beet farming.
- Technological advancements that could improve yield efficiency.
- Shifts in global demand for molasses and related products, particularly from major consuming industries.
