The actual volume of orange juice imports in Canada stood at 348.08 thousand metric tons in 2023. Over the past decade, a noticeable downward trend was observed from 2013 to 2023 with significant year-on-year variations. Most notably, 2017 saw a steep decline of 7.76%, while 2021 experienced an 8.78% drop. More recent years have shown stabilization, with modest increases in 2022 and 2023. The five-year Compound Annual Growth Rate (CAGR) leading up to 2023 declined by 0.34% annually.
Forecasts suggest a mild upward trend with orange juice imports projected to grow from 2024 onwards, showing a slight increase each year. The forecasted five-year CAGR from 2024 to 2028 is positive at 0.38%, with an overall growth rate of 1.92% over the same period.
Future trends to watch for:
- Potential fluctuations in global orange juice supply due to climatic conditions.
- Changes in consumer preferences towards healthier alternatives and their impact on orange juice demand.
- Trade policies and agreements that could affect import dynamics.
