As of 2023, Canada imported a certain amount of powdered whey, and the forecast from 2024 indicates a gradual increase in imports, rising from 2.52 thousand metric tons in 2024 to 2.64 thousand metric tons by 2028. The year-on-year growth rate averages at approximately 1.19%, suggesting a steady rise over this period. The compound annual growth rate (CAGR) for the forecasted period from 2024 to 2028 is around 0.98%, indicating a consistent but modest increase in imports.
Future trends to watch for include:
- Changes in global demand for dairy products which can impact import volumes.
- Trade policy adjustments and tariffs influencing import costs and volumes.
- Developments in alternative plant-based protein markets which might affect whey demand.