Fruit - Canada

Canada

Gross production value in Fruit market is projected to amount to US$64.77m in 2024. An annual growth rate of 2.47% is expected (CAGR 2024-2028), resulting in gross production value of US$71.42m in 2028.
The import value in Fruit market is projected to amount to US$4.2bn in 2024. An annual growth rate of 3.15% is expected (CAGR 2024–2028).
The export value in Fruit market is projected to amount to US$242.8m in 2024. An annual growth rate of -2.59% is expected (CAGR 2024–2028).

Key regions: United Kingdom, Germany, Italy, United States, Brazil

Market

Region

Region comparison

Currency

Analyst Opinion

The fruit market in Canada has been showing interesting developments in recent years.

Customer preferences: Canadian consumers have been increasingly interested in healthy food options, including fresh fruits. This has led to a growing demand for organic and locally sourced fruits. In addition, there has been a shift towards more exotic fruits such as mangoes and avocados, which were once considered luxury items but are now becoming more mainstream.

Trends in the market: One trend in the Canadian fruit market is the rise of online grocery shopping. This has allowed consumers to easily access a wider variety of fruits, including those that may not be available in their local stores. Another trend is the growth of the frozen fruit market, which has become popular with consumers looking for convenient and healthy options.

Local special circumstances: Canada's diverse climate and geography mean that different regions of the country are able to grow different types of fruits. For example, British Columbia is known for its apples and cherries, while Quebec is known for its blueberries. This has led to a strong local fruit industry, with many consumers preferring to buy fruits that are grown in their region.

Underlying macroeconomic factors: The Canadian fruit market is influenced by a variety of macroeconomic factors, including trade agreements and exchange rates. For example, the recently signed USMCA trade agreement has led to increased exports of Canadian fruits to the United States. In addition, the Canadian dollar's fluctuation against other currencies can impact the price of imported fruits, which can in turn affect consumer demand. Finally, the ongoing COVID-19 pandemic has disrupted global supply chains and impacted the availability and price of certain fruits in Canada.

Methodology

Data coverage:

The data encompasses B2B. Figures are based on the value of gross production in the agriculture market, which values of production are calculated by multiplying gross production by output prices at the farm gate.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market. As a basis for evaluating markets, we use resources from the Statista platform as well as annual financial reports of the market-leading companies and industry associations, third-party studies and reports, national statistical offices, international institutions, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting agriculture products due to the non-linear growth of this market, especially because of the direct impact of climate change on the market.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.