As of 2023, beef and veal consumption in Canada stood at a stable level of approximately 1.0 Million Metric Tons. From 2024 to 2028, forecasts indicate a slight increase in consumption, reaching 1.01 Million Metric Tons by 2025 and remaining stable through 2028. This reflects a stagnant compound annual growth rate (CAGR) of about 0.2% over the five-year forecast period. The forecasted data suggests minimal year-on-year variation, indicating steady consumer demand in Canada.
Future trends to watch for include:
- Potential shifts in consumer preferences towards alternative protein sources, which could impact traditional meat consumption.
- Economic factors such as inflation and income levels, influencing purchasing power and consumer choices.
- Environmental and sustainability concerns that might lead to regulatory changes affecting beef and veal production and consumption.
