Household expenditure on infant formula in Canada stood at 22.13 Canadian Dollars in 2023. Forecasts indicate a steady increase in spending over the next five years, with values rising to 22.28 CAD in 2024, 22.44 CAD in 2025, 22.59 CAD in 2026, 22.75 CAD in 2027, and 22.9 CAD in 2028. The year-on-year percentage increase is approximately 0.72% from 2024 to 2025 and continues at a similar rate through 2028. The Compound Annual Growth Rate (CAGR) over the five-year period from 2024 to 2028 is roughly 0.63%.
Future trends to watch for include:
- Impact of birth rates on demand for infant formula
- Changes in economic conditions affecting household spending
- Potential regulatory changes around infant nutrition products
- Consumer preferences shifting towards organic or specialty formulas
