In 2023, salaries and wages for the Flour Milling and Malt Manufacturing sector in Canada stood at an estimated 191.1 million CAD. From 2024 to 2028, a steady increase in salaries and wages is forecasted, with a cumulative increase from 197.25 million CAD in 2024 to 218.88 million CAD in 2028. Year-on-year growth is expected to stabilize between 2.7% and 3.0%, with the 5-year Compound Annual Growth Rate (CAGR) at approximately 2.68%.
Future trends to watch for include:
- Potential impact of technological advancements leading to efficiency in milling processes, which may influence wage structures.
- Inflationary pressures and regulatory changes likely affecting labor costs.
- Evolving consumer preferences towards sustainable and organic products, potentially reshaping workforce demands.