Based on the given data, the concentrated whole milk supply in Canada in 2023 stood at 19.52 thousand kiloliters, reflecting a significant decline of 8.49% from the previous year. Over the last two years, the supply has fallen by 5.7% and 8.49%, respectively, indicating a persistent downward trend. From 2024 onwards, the forecasted data project a continued sharp decline, with the supply expected to drop to 10.58 thousand kiloliters by 2028, translating to a 40.26% decrease over five years and an average annual shrinkage (CAGR) of 9.79%. This sharp trend suggests critical challenges within the market.
Future Trends to Watch For:
- Dairy industry structural changes or potential supply chain disruptions.
- Consumer preference shifts towards alternative milk products.
- Regulatory changes impacting the dairy sector.
- Climate change and its impact on dairy farming.
