Forecast: Pesticide, Fertilizer and Other Agricultural Chemical Manufacturing Revenue in Canada

In 2023, the revenue for Pesticide, Fertilizer, and Other Agricultural Chemical Manufacturing in Canada stood at CAD 6.7547 billion, showcasing a steady increase from previous years. Over the last two years, the industry saw year-on-year variations of 1.93% in 2022 and 1.87% in 2023. The Compound Annual Growth Rate (CAGR) over the last five years (2019-2023) was 2.06%, indicating moderate but consistent growth.

Looking at future trends, the industry is expected to continue its upwards trajectory, with forecasted values reaching CAD 7.3579 billion by 2028. The forecasted 5-year CAGR from 2024-2028 is pegged at 1.36%, and the overall growth rate for this period is projected to be 6.98%.

Future trends to watch for include:

• Emergence of eco-friendly and sustainable agricultural chemicals
• Technological advancements in production and application methods
• Regulatory changes impacting chemical usage and safety standards
• Shift towards organic and non-GMO farming practices influencing demand