Based on the forecast data for Ice Milk Production in Canada, production is expected to increase consistently from 2024 to 2028. The values in thousand kiloliters for these years are as follows:
- 2024: 67.16
- 2025: 67.99
- 2026: 68.82
- 2027: 69.64
- 2028: 70.46
For context, production in 2023 was 66.36 thousand kiloliters. The year-on-year variations are:
- 2024 vs 2023: 1.2%
- 2025 vs 2024: 1.2%
- 2026 vs 2025: 1.2%
- 2027 vs 2026: 1.2%
- 2028 vs 2027: 1.2%
The average compound annual growth rate (CAGR) over the 5-year forecast period is 1.2%.
Future trends to watch for include potential shifts in consumer preferences towards healthier alternatives or plant-based options, which could impact the production of traditional ice milk. Additionally, advancements in dairy technology and sustainability practices may affect production efficiency and environmental impact.
