Household expenditure on snack food in Canada has shown a general upward trend from 2013 through 2023, with a significant increase in 2017 followed by a slight decline in 2019. In 2023, the expenditure stood at 96 CAD, reflecting a modest year-on-year growth of 1.05%. Over the last two years, the expenditure varied, and the average annual growth rate over the past five years was 0.64%. The forecasted data from 2024 to 2028 suggests a gradual increase, with a 5-year CAGR of 0.92%, reaching 102.03 CAD in 2028, indicating a growth rate of 4.71% from 2024 to 2028.
For future trends, watch for:
- Impacts of economic conditions on discretionary spending
- Consumer preferences towards healthy snack options
- Market innovations and new product introductions
- Potential effects of regulatory changes on the snack food industry
