The import of concentrated or sweetened milk and cream into Canada in 2023 was valued at approximately 9.680 million USD. The forecast data for 2024 onward indicates a downward trajectory in import values, with anticipated declines reaching a value of 4.9566 million USD by 2028.
Year-on-year, the import value is expected to decrease by a range of approximately 11% to 15%. Calculating from 2024, the compound annual growth rate (CAGR) over the five-year period reveals an average annual decrease of around 10% in import values.
Future trends to watch for include potential changes in domestic dairy production capacity, international trade agreements involving dairy, and shifts in consumer preferences towards non-dairy alternatives, all of which could impact import volumes and values.
