Canada: Sesame Oil Market 2024

Sesame Oil Market Size in Canada

The Canadian sesame oil market reached $X in 2022, growing by 4.7% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, enjoyed a buoyant expansion. Sesame oil consumption peaked in 2022 and is likely to see steady growth in years to come.

Sesame Oil Exports

Exports from Canada

In 2022, exports of sesame oil from Canada skyrocketed to X tons, with an increase of 272% on the previous year. Over the period under review, exports saw a resilient increase. The most prominent rate of growth was recorded in 2018 when exports increased by 16,380% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, sesame oil exports surged to $X in 2022. In general, exports showed significant growth. The most prominent rate of growth was recorded in 2018 with an increase of 18,284% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for sesame oil exports from Canada, accounting for a 90% share of total exports. Moreover, sesame oil exports to the United States exceeded the volume sent to the second major destination, Belgium (X kg), more than tenfold. The third position in this ranking was taken by France (X kg), with a 3% share.

From 2012 to 2022, the average annual growth rate of volume to the United States amounted to +27.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (0.0% per year) and France (+31.5% per year).

In value terms, the United States ($X) remains the key foreign market for sesame oil exports from Canada, comprising 98% of total exports. The second position in the ranking was held by Belgium ($X), with a 0.7% share of total exports. It was followed by France, with a 0.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States stood at +30.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (0.0% per year) and France (+28.5% per year).

Export Prices by Country

The average sesame oil export price stood at $X per ton in 2022, rising by 51% against the previous year. In general, the export price recorded a remarkable increase. The most prominent rate of growth was recorded in 2015 an increase of 181% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2016 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to France ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+2.7%), while the prices for the other major destinations experienced mixed trend patterns.

Sesame Oil Imports

Imports into Canada

After two years of growth, overseas purchases of sesame oil decreased by less than 0.1% to X tons in 2022. Over the period under review, imports, however, recorded a strong increase. The pace of growth appeared the most rapid in 2018 with an increase of 74% against the previous year. Over the period under review, imports hit record highs at X tons in 2021, and then shrank in the following year.

In value terms, sesame oil imports expanded rapidly to $X in 2022. Overall, total imports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +8.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +55.9% against 2014 indices. The growth pace was the most rapid in 2014 with an increase of 29% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

Japan (X tons), Taiwan (Chinese) (X tons) and Mexico (X tons) were the main suppliers of sesame oil imports to Canada, together accounting for 73% of total imports. India, South Korea, China and the United States lagged somewhat behind, together accounting for a further 20%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by South Korea (with a CAGR of +33.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constituted the largest supplier of sesame oil to Canada, comprising 40% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 17% share of total imports. It was followed by Mexico, with a 17% share.

From 2012 to 2022, the average annual growth rate of value from Japan stood at +5.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+8.6% per year) and Mexico (+17.3% per year).

Import Prices by Country

The average sesame oil import price stood at $X per ton in 2022, picking up by 8.7% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 25% against the previous year. As a result, import price reached the peak level of $X per ton. From 2018 to 2022, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+3.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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