The import of soya bean flour or meal to Canada is forecasted to slightly increase over the next five years. In 2023, imports stood at approximately $14.68 million. Forecasts indicate a gradual increase from $14.839 million in 2024, reaching $15.474 million by 2028. This represents a compound annual growth rate (CAGR) of roughly 1.04% over the five-year forecast period. Year-on-year variations highlight a steady, minimal growth trend, averaging around 1%.
Future trends to watch for:
- Potential policy changes affecting agricultural imports.
- Shifts in global supply chains that may impact import reliance.
- Emerging consumer trends towards plant-based foods influencing demand.
