Other Livestock Products - Canada

Canada

Gross production value in Other Livestock Products market is projected to amount to US$7.11bn in 2024. An annual growth rate of 2.47% is expected (CAGR 2024-2028), resulting in gross production value of US$7.84bn in 2028.
The import value in Other Livestock Products market is projected to amount to US$110.2m in 2024. An annual growth rate of -1.91% is expected (CAGR 2024–2028).
The export value in Other Livestock Products market is projected to amount to US$77.5m in 2024. An annual growth rate of -6.16% is expected (CAGR 2024–2028).

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

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Analyst Opinion

The Other Livestock Products market in Canada has been experiencing a steady growth in recent years.

Customer preferences: Consumers in Canada have been gravitating towards healthier food options, which has resulted in an increase in demand for Other Livestock Products such as goat meat, rabbit meat, and duck eggs. The trend towards ethnic foods has also contributed to the growth of this market, as these products are commonly used in various cultural cuisines.

Trends in the market: The Canadian government has been promoting the consumption of locally produced food products, which has led to an increase in demand for Other Livestock Products that are produced in Canada. Additionally, the rise of e-commerce platforms has made it easier for consumers to access these products, which has further boosted the market.

Local special circumstances: The Canadian climate and geography make it difficult to produce certain types of meat, such as beef and pork, on a large scale. As a result, there has been a greater focus on producing Other Livestock Products, which are more suited to the Canadian environment. This has led to a greater variety of products being available to consumers, which has contributed to the growth of the market.

Underlying macroeconomic factors: The Canadian economy has been performing well in recent years, with a low unemployment rate and a stable GDP growth rate. This has led to an increase in consumer spending, which has contributed to the growth of the Other Livestock Products market. Additionally, the Canadian government has been investing in the agriculture industry, which has led to an increase in production efficiency and a greater variety of products being available to consumers.

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.