Skimmed dried milk production in Canada showed significant fluctuations from 2013 to 2023. In 2013, production stood at 73.86 thousand metric tons, ending at 120.88 thousand metric tons in 2023. Over these years, year-on-year variations ranged from a high of 26.13% in 2015 to a low of -12.68% in 2013. The CAGR over the last five years (2018-2023) was 1.92%, indicating a steady but modest growth trend.
Looking ahead, forecasts from 2024 to 2028 predict a continual growth, with the CAGR over these five years estimated at 1.37%, resulting in total growth of 7.02% by 2028. By 2028, production is projected to reach 132.01 thousand metric tons.
Future trends to watch for include potential changes in global dairy demand, advancements in dairy production technology, policy changes affecting dairy farming, and the impact of consumer preferences shifting toward plant-based alternatives. These factors will shape the outlook for skimmed dried milk production in Canada.
