In 2023, Canadian household expenditure on fluid skim milk was significantly higher compared to the forecasted values for 2024 and beyond. The trend from 2024 to 2028 shows a noticeable decline in spending, with a year-on-year decrease evident each year. Notably, the expenditure drops from 8.04 CAD in 2024 to 4.24 CAD by 2028, indicating decreasing consumption or a potential shift away from fluid skim milk. The Compound Annual Growth Rate (CAGR) over this five-year period reflects a consistent decline.

Future trends to watch for in this segment include:

Changes in consumer preferences towards alternative milk products, which may reduce demand for fluid skim milk.
Potential price fluctuations influenced by dairy market dynamics, impacting household expenditure.
Emerging dietary trends and health awareness campaigns that could either bolster or further diminish skim milk consumption.