In 2023, nonfat dry milk consumption in Canada was valued at 102.0 thousand metric tons. Forecasts for the period 2024 to 2028 suggest a stable consumption level, consistently maintaining at 102.0 thousand metric tons each year. This reflects no year-on-year variation, indicating a flat trend over the recent forecast period. The Compound Annual Growth Rate (CAGR) for the next five years is effectively 0%, demonstrating no expected growth or decline.
Future trends to watch for include potential shifts in consumer dietary preferences towards plant-based milk alternatives, which could impact nonfat dry milk demand. Additionally, developments in local dairy policies and international trade agreements may alter the consumption landscape in the coming years.
