The forecast for household expenditure on apples in Canada from 2024 to 2028 shows a steady increase from CAD 86 to CAD 91. In 2023, the spend was CAD 85, indicating a continuation of the upward trend observed in recent years. Year-on-year growth is modest, with increases around 1.1% to 2.3% annually. Over the five-year period, the compound annual growth rate (CAGR) is estimated at approximately 1.4%. This trend suggests a consistent rise in apple expenditures, likely driven by factors such as population growth and increased consumption of healthier food options.
Future trends to watch for:
- Changes in consumer preferences towards organic or specialty apple varieties.
- Impact of economic factors on discretionary spending on fresh produce.
- Potential effects of trade policies on apple imports and pricing.
