The per capita consumption of beef meat in Canada is forecasted to decline gradually from 25.04 kilograms in 2024 to 24.06 kilograms by 2028. This indicates a consistent downward trend, with a year-on-year decline ranging between 0.88% and 1.01% over the forecast period. In contrast, in 2023, the actual per capita consumption stood at a slightly higher rate, marking the beginning of this declining trend. The compound annual growth rate (CAGR) over the five-year forecast period suggests a negative growth of approximately 1% per annum.
Future trends to watch include potential shifts in consumer preferences towards plant-based diets, environmental concerns regarding beef production, and price fluctuations driven by supply chain dynamics. Additionally, any policy changes related to health and sustainability could further influence beef consumption patterns.
