Ice cream consumption in Canada demonstrated fluctuating trends over the past decade, peaking notably in 2020 at 207.32 thousand kiloliters and reaching 175.39 thousand kiloliters in 2023. Year-on-year growth experienced significant highs and lows, with the highest increase at 31.07% in 2020 and the lowest decrease at -13.08% in 2015. The Compound Annual Growth Rate (CAGR) over the last five years (2019-2023) was 3.34%, indicating moderate growth.
Future trends from the forecast data suggest a slight decline in ice cream consumption. By 2028, consumption is expected to drop marginally to 174.96 thousand kiloliters. The forecasted 5-year CAGR is projected at -0.04%, indicating a stable yet slightly contracting market.
Future trends to watch for include:
- Potential shifts in consumer preferences due to health consciousness or alternative dessert options.
- Innovations in the ice cream market, such as plant-based or low-sugar products, which may affect consumption patterns.
- Impact of climate change on the supply chain and raw material availability.
