In 2023, Canadian food manufacturing expenses stood at 118.20 billion CAD. From 2024, the expenses are forecasted to steadily increase from 120.77 billion CAD to 131.08 billion CAD in 2028. The year-on-year variations are projected to be approximately 2.16%, 2.97%, 2.10%, and 1.97% for 2024, 2025, 2026, and 2027 respectively. Over the five-year period from 2024 to 2028, the compound annual growth rate (CAGR) averages to about 2.5%.

Future trends to watch for include:

Impact of technological advancements on cost efficiency in the food manufacturing sector.
Influence of global supply chain disruptions on raw material prices.
Evolving consumer preferences towards sustainable and organic products.
Regulatory and policy changes affecting the food industry.