Yogurt production in Canada has experienced fluctuations between 2013 and 2023, peaking in 2015 with 395.11 thousand kiloliters and then gradually declining to 356.93 thousand kiloliters by 2023. Year-on-year variations show intermittent growth and declines, with notable changes like a 12.03% rise in 2015 and a 4.95% drop in 2017. The compound annual growth rate (CAGR) over the last 5 years reflects a downward trend, standing at -0.95% from 2019 to 2023.
Future forecasts predict a continued slight decline in production, with the volume expected to reach 350.5 thousand kiloliters by 2028. This represents a forecasted 5-year CAGR of -0.28% through 2028, translating to an overall reduction of about 1.4% over this period.
Future trends to watch for:
- Impact of consumer preferences shifting towards plant-based and dairy-free alternatives.
- Innovations in yogurt products and packaging improving market appeal.
- Influence of health and wellness trends driving demand for specialized yogurt products.
- Potential volatility in dairy supply chains affecting production capacity.
