Household expenditure on meal replacements in Canada is forecasted to grow steadily from CAD 51.27 in 2024 to CAD 56.5 in 2028. This represents a compound annual growth rate (CAGR) of approximately 2.5% over the five-year period. Taking into account a baseline of 2023, this rising trend underscores increasing consumer acceptance and reliance on meal replacements.
Year-on-year variations show a consistent increase: 2.64% from 2024 to 2025, 2.51% from 2025 to 2026, 2.39% from 2026 to 2027, and 2.30% from 2027 to 2028.
Future trends to watch for include advancements in nutritional science, greater emphasis on health and wellness, and potential regulatory changes impacting meal replacement products. Monitoring these factors will provide insights into the sustainability of this growth trajectory.
