Canada's wheat production stood at 33.923 million metric tons in 2023. From 2013 to 2023, wheat production experienced fluctuations with significant drops in some years, such as a notable 21.67% decrease in 2014, and gains like a 16.25% increase in 2016. The past two years saw modest year-on-year increases of 1.19% in 2022 and 1.15% in 2023. Over the last five years, the CAGR was relatively low at 1.05%, indicating slow but steady growth.
The forecasted CAGR from 2023 to 2028 is 0.91%, with an overall growth rate of 4.64%. Future trends to watch for include the impact of climate change, advancements in agricultural technology, and potential shifts in market demand that could influence production volume.
