From 2013 to 2023, the supply of processed cheese in Canada showed significant variability, starting at 72.96 thousand metric tons in 2013 and reaching 86.61 thousand metric tons in 2023. The supply saw a decline from 2013 until 2015, dropping to 65.04 thousand metric tons, followed by fluctuations until 2017 when it rose to 77.73 thousand metric tons. The period from 2018 to 2023 displayed relatively consistent growth, peaking at 87.41 thousand metric tons in 2022 before a slight decline in 2023. The average annual growth rate (CAGR) from 2019 to 2023 was 2.08%.
Based on forecasts, the supply of processed cheese is expected to stabilize with small incremental increases, reaching 87.16 thousand metric tons by 2028. The projected CAGR for the next five years is modest at 0.1%, indicating a relatively stable market.
Future trends to watch for include:
- Shifts in consumer preferences towards healthier or alternative cheese products
- Impacts of economic factors such as inflation and supply chain disruptions
- Potential regulatory changes affecting the dairy industry
- Technological advancements in cheese production and processing
