The forecasted data indicates an upward trend in household expenditure on dinners and entrees (except frozen) in Canada. From 2024 to 2028, spending is expected to grow from CAD 56.46 to CAD 61.47. In comparison, the actual expenditure in 2023 stood at an undisclosed figure. The year-on-year growth over these years shows a steady increase, with the compound annual growth rate (CAGR) indicating a consistent rise in expenditure across the five-year period.
Future trends to watch for include:
- The impact of economic changes on household purchasing power and dining preferences.
- Shifts in consumer behavior towards sustainable and locally sourced ingredients.
- Potential innovations in meal kit services and homemade meal preparation influencing expenditure patterns.