The beef supply in Canada is projected to increase steadily from 1.63 million metric tons in 2024 to 1.69 million metric tons by 2028. As of the end of 2023, the beef supply was at 1.61 million metric tons. Year-on-year, this indicates a consistent growth trajectory with percentage increases ranging from approximately 1.2% to 1.4%. Over the five-year period, the compound annual growth rate (CAGR) is approximately 1.2%.
Future trends to watch for include potential impacts of climate change on livestock farming, emerging technologies in food production, and shifts in consumer preferences towards plant-based alternatives which may affect demand and subsequent supply dynamics. Monitoring policy changes and trade agreements will also be crucial as they could significantly influence the beef market in Canada.
