Skim milk production in Canada has been on a consistent decline from a high of 251.74 thousand kiloliters in 2013 to 111.38 thousand kiloliters in 2023. This represents a significant downward trend with an average annual decrease (CAGR) of -8.02% over the last five years. The year-on-year decrease has varied, generally ranging from -1.24% to -16.97%. In the last two years, the production dropped by 7.73% in 2022 and 6.54% in 2023.
Looking ahead, forecasted data suggests this trend will continue, with annual decreases leading to a projected production of 86.29 thousand kiloliters by 2028. The average annual decrease over the next five years is expected to be -3.79%, a slight improvement from the historical rate but still indicative of a continuing decline.
Future trends to watch for:
- Potential changes in consumer preferences and dietary trends that could impact demand.
- Regulatory and policy changes influencing dairy production and consumption.
- Technological advancements in the dairy industry that might affect production efficiency.
- Market conditions and economic factors both domestically and globally.
