In 2023, the whole fresh cow milk producing population in Canada stood at 959.05 thousand heads. The forecasted data for 2024 to 2028 indicates a slight but consistent decline: 955.96 thousand heads in 2024, 952.87 in 2025, 949.84 in 2026, 946.87 in 2027, and 943.95 in 2028.
Year-on-year variations: - From 2023 to 2024: -0.32% - From 2024 to 2025: -0.32% - From 2025 to 2026: -0.32% - From 2026 to 2027: -0.31% - From 2027 to 2028: -0.31%
The compound annual growth rate (CAGR) over the last five years is approximately -0.32% per year, reflecting a steady but gradual decline in the cow milk producing population.
Future trends to watch for: - Technology advancements in dairy farming that could potentially reverse or accelerate the declining trend. - Changes in consumer preferences towards plant-based milk alternatives. - Regulatory impacts on dairy farming practices and animal welfare standards. - Economic factors affecting dairy farmers such as feed cost and milk prices.
