Based on the forecast for 2024 to 2028, the import of fresh or chilled meat of bovine animals to Canada is projected to exhibit a gradual decline. With a forecast value of $496.03 million in 2024, a decrease to $475.26 million is anticipated by 2028. This trend suggests a year-on-year contraction averaging around 1-2% as seen in the gradual decrease each year.

Considering the previous data, the value in 2023 stood at $500 million. Over the 2024-2028 period, the compound annual growth rate (CAGR) is negative, signaling a consistent downward trend in imports.

Future trends to watch for include:

Changes in domestic production capabilities of bovine meat in Canada.
Shifts in consumer preferences, such as a rise in plant-based diets.
Policy adjustments such as trade agreements or tariffs impacting import levels.
Global market factors, including beef supply or price fluctuations affecting import decisions.