In 2023, the actual bananas market size volume per capita in Canada stood at 15.16 kilograms. As we move forward into the forecasted period from 2024 to 2028, the data indicates a slight and steady decline in per capita consumption. The year 2024 starts with 15.15 kilograms, gradually decreasing to 15.12 kilograms by 2028. This represents a minimal year-on-year variation that remains consistent at a negative rate, showing that per capita consumption is decreasing.
Year-on-year variation in recent years depicts a very small shrinking trend in the market size volume per capita. The compound annual growth rate (CAGR) over the forecasted five-year period from 2024 to 2028 reflects an average annual decrease in per capita consumption.
Future trends to watch for include potential impacts of changing consumer dietary preferences, increased competition from other fruits, and potential influences from economic factors such as pricing and import policies. Understanding these variables will be key for stakeholders in the bananas market in Canada.
