In examining the ice cream and frozen dessert manufacturing closing inventories in Canada, the year-on-year variation highlights both fluctuations and sustained growth. For 2023, the inventory value stood at CAD 100 million. Historical data reveals notable trends: significant drops in 2014 (-8.43%) and 2016 (-9.53%) contrasted with large increases in 2017 (31.77%) and 2018 (22.48%). From 2018 to 2023, the compound annual growth rate (CAGR) was moderate, peaking at 12.98% in 2021. Forecasts for 2024-2028 project an annual growth rate of 3.53%, leading to an 18.96% increase over the period.
Future trends to watch for:
- Potential impacts of climate change on seasonal demand patterns.
- Innovations in frozen dessert manufacturing (e.g., non-dairy alternatives).
- Shifts in consumer preferences towards healthier options.
- Economic conditions affecting discretionary spending on luxury food items.