The production of whole cow milk cheese in Canada stood at 619.55 thousand metric tons in 2023, showing a steady increase from previous years. Over the last decade, the industry has experienced significant growth, except for a slight dip in 2020. The year-on-year variation for 2022 and 2023 was 0.27% and 2.18%, respectively, reflecting moderate growth. The average annual growth rate (CAGR) over the past five years was 2.38%, indicating consistent expansion.
Looking forward, the forecasted data suggests that whole cow milk cheese production will continue its upward trajectory, reaching 689.27 thousand metric tons by 2028. The forecasted five-year CAGR is 1.66%, with an overall growth rate of 8.56%, signaling a stable yet slower pace of growth compared to the past.
Future trends to watch for include:
- Potential impacts of changing consumer preferences towards healthier or alternative dairy products.
- Technological advancements in dairy farming and cheese production.
- Regulatory changes and trade policies affecting the Canadian dairy industry.
- The influence of global market dynamics and competition from international cheese producers.
