The forecast for concentrated whole milk consumption in Canada from 2024 to 2028 shows a steady decline. In 2023, the actual consumption was 18.54 thousand kiloliters. The forecasted value for 2024 is 17.84 thousand kiloliters, a 3.77% year-on-year decrease. For 2025, the consumption is expected to further decline by 3.87% to 17.15 thousand kiloliters. By 2026, the consumption is projected to be 16.48 thousand kiloliters, a 3.91% decrease from 2025. The downward trend continues in 2027, with an expected consumption of 15.82 thousand kiloliters, showing a 4.00% decline from 2026. In 2028, the forecast predicts a consumption of 15.18 thousand kiloliters, a 4.05% decrease from the previous year. The compound annual growth rate (CAGR) over the next five years is estimated at -4.05%.
Future trends to watch for include changes in consumer preferences towards plant-based milk alternatives, potential impacts of economic conditions on dairy consumption, and emerging health trends that may further influence the demand for concentrated whole milk in Canada.
