Key regions: Germany, Spain, Italy, Brazil, United States
The Oil Crops market in Canada has been experiencing significant growth in recent years.
Customer preferences: Consumers around the world have become increasingly health-conscious, leading to a rise in demand for plant-based oils. This trend has been particularly prominent in Canada, where consumers are actively seeking out healthier alternatives to traditional cooking oils. Additionally, the growing popularity of veganism and plant-based diets has further fueled the demand for oil crops.
Trends in the market: One of the key trends in the Canadian Oil Crops market is the shift towards sustainable and organic farming practices. Canadian consumers are becoming more aware of the environmental impact of conventional farming methods, and are increasingly willing to pay a premium for sustainably and ethically produced oil crops. This trend has been driven by a growing demand for transparency and traceability in the food supply chain.Another trend in the Canadian Oil Crops market is the increasing popularity of non-GMO and organic products. Consumers are becoming more concerned about the potential health risks associated with genetically modified crops, and are actively seeking out non-GMO and organic alternatives. This trend has been driven by a growing awareness of the potential health risks associated with the use of pesticides and other chemicals in conventional farming.
Local special circumstances: Canada is one of the largest producers of canola oil in the world, accounting for a significant portion of global production. Canola oil is a popular cooking oil in Canada, and is also used in a variety of food products, including margarine, salad dressings, and baked goods. The Canadian government has been actively promoting the use of canola oil as a healthy and sustainable alternative to other cooking oils.
Underlying macroeconomic factors: One of the key macroeconomic factors driving the growth of the Oil Crops market in Canada is the country's strong agricultural sector. Canada has a large and diverse agricultural industry, with a favorable climate and fertile soil that are well-suited for the cultivation of oil crops. Additionally, the Canadian government has been actively promoting the growth of the agricultural sector through a variety of initiatives and programs.Another macroeconomic factor driving the growth of the Oil Crops market in Canada is the country's strong trade relationships with other countries. Canada is a major exporter of oil crops, particularly canola oil, and has established strong trade relationships with countries around the world. This has helped to drive demand for Canadian oil crops, and has contributed to the growth of the industry.
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.
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