In 2023, Canada's skimmed condensed milk production was recorded at 2.18 thousand metric tons. The forecast for 2024 is expected to remain stable at 2.19 thousand metric tons, maintaining this volume through 2025. A slight increase to 2.20 thousand metric tons is anticipated in 2026, with stability expected until 2028. Compared to the last two years, this indicates a minor growth in production volume, suggesting a steady yet modest increase overall. The compound annual growth rate (CAGR) over the next five years reflects a consistent albeit slight upward trend.
Future trends to watch for include changes in consumer demand driven by dietary preferences and potential innovations in dairy alternatives, which could impact production volumes. Additionally, monitoring trade policies and global supply chain dynamics will be important as they could influence Canada's dairy exports and production strategy.
