In 2023, ice milk consumption per capita in Canada was at 1.69 liters. From 2024 onwards, it is forecasted to grow steadily, reaching 1.80 liters by 2028. The year-on-year growth rate is consistent at around 1.16% each year, with a calculated compound annual growth rate (CAGR) of approximately 1.27% over the forecast period. This indicates a moderate but steady increase in demand for ice milk products.
Future trends to watch for include:
- Changes in consumer preferences towards healthier dessert options, which could impact ice milk consumption.
- Innovations in product flavors and formulations that may attract more consumers.
- Potential market disruptions due to economic factors or competing products.