Forecast: Chocolate Drink Production in Canada

Chocolate drink production in Canada has experienced a general decline over the past decade. In 2023, the production stood at 166.16 thousand kiloliters, showing a year-on-year decrease of 2.06%. The CAGR over the last five years has been approximately -4.1%. In the last two years, production fell by 0.33% in 2022 and continued to decrease by 2.06% in 2023.

Looking ahead to the forecasted period, the trend of decline is expected to continue, with production projected to reach 156.78 thousand kiloliters by 2028. The forecasted five-year CAGR is -0.82%, indicating a steady downward trend. This decline represents a forecasted five-year growth rate of -4.03%.

Future trends to watch for include:

• Consumer preferences shifting towards healthier beverage options
• Impact of economic conditions on discretionary spending
• Potential innovations in product formulations to revive interest in chocolate drinks