Butter domestic consumption in Canada is set to increase from 163.0 thousand metric tons in 2024 to 173.0 thousand metric tons in 2028. Based on actual data, the consumption stood at 160.0 thousand metric tons in 2023. Year-on-year growth rates show consistent increases: 1.84% from 2023 to 2024, 1.84% from 2024 to 2025, 1.81% from 2025 to 2026, 1.18% from 2026 to 2027, and 1.17% from 2027 to 2028. The compound annual growth rate (CAGR) over the forecast period (2024-2028) is approximately 1.50%, indicating steady growth in butter consumption.
Future trends to watch for include:
-Shifts in consumer preferences towards healthier alternatives that may impact butter consumption patterns.
-Sustainability practices and policies affecting dairy industry outputs.
-Economic factors, such as changes in disposable income and food prices, influencing demand.
