From 2013 to 2023, the animal slaughtering and processing industry in Canada demonstrated consistent growth. In 2023, the industry's revenue stood at CAD 36.088 billion, reflecting a YoY growth rate of 3.4%. Observing the last two years, the sector maintained moderate growth with a CAGR of 4% over the past five years, signifying steady expansion in market demand and output.
Looking ahead, from 2024 to 2028, the revenue is forecasted to grow at a reduced CAGR of 2.35%. This suggests a slight deceleration in growth over the upcoming years, achieving a total increase of 12.29% by 2028. Future trends to watch for include advancements in processing technology, fluctuations in demand for meat products, and shifts towards sustainable and ethical practices in slaughtering and processing.
