In 2023, the fluid milk factory use consumption in Canada stood at 7.22 million metric tons. Looking ahead, the forecasted data for 2024 to 2028 suggests a steady increase in consumption.
- 2024: 7.3 (1.11% YoY increase)
- 2025: 7.39 (1.23% YoY increase)
- 2026: 7.48 (1.22% YoY increase)
- 2027: 7.56 (1.07% YoY increase)
- 2028: 7.63 (0.92% YoY increase)
The Compound Annual Growth Rate (CAGR) over this five-year period is approximately 1.11%, indicating a stable growth rate.
Future trends to watch for include potential shifts in consumer preferences towards non-dairy alternatives, regulatory changes affecting dairy production, and advances in dairy technology that could impact factory efficiencies and consumption patterns.
