The coffee market in Canada has shown fluctuations from 2014 to 2023, with the volume standing at 253.0 Thousand Metric Tons in 2023. The period experienced varied year-on-year changes, peaking in 2016 with a 1.13% increase and declining significantly in 2020 by -5.37%. Over the past two years, the market showed a minor annual decrease of -0.39%. The five-year CAGR ending in 2023 indicates a subtle decline of -0.16% annually. The projected data from 2024 to 2028 suggests a continuing downward trend with a forecasted five-year CAGR of -0.22%, leading to a total reduction of -1.1% by 2028.
Future trends to watch for:
• Consumer preferences shifting towards specialty and premium coffee products.
• Growing interest in sustainable and ethically sourced coffee.
• The impact of possible economic shifts on consumer spending and preferences.