In 2023, expenditures on food in Canada were projected to stand at 1.92 thousand US dollars per capita. From 2024 to 2028, forecasted data suggests a steady decline in food expenditure per capita: from 1.88 thousand in 2024, decreasing annually to 1.74 thousand by 2028. Year-on-year, this indicates a gradual reduction, averaging about -1.9% per year over the forecast period. The compound annual growth rate (CAGR) from 2023 to 2028 is expected to be -2.0%.
Future trends to watch include potential impacts from economic fluctuations, policy changes affecting agricultural production and supply chains, and shifts in consumer preferences towards more affordable or sustainable food options.
