The fluid milk supply in Canada for 2024 is forecasted to be 10.51 million metric tons, up from 2023's actual supply, which stood at 10.40 million metric tons. Over the following years, the supply is expected to continue its upward trend, reaching 10.62 million metric tons in 2025, 10.73 million metric tons in 2026, 10.84 million metric tons in 2027, and 10.94 million metric tons in 2028.
- The year-on-year growth rate for 2024-2025 is projected at 1.0%.
- For 2025-2026, the growth rate is forecasted at 1.04%.
- The growth rate for 2026-2027 is expected to be 1.02%.
- Lastly, the growth rate for 2027-2028 is anticipated to be 0.92%.
The compound annual growth rate (CAGR) from 2024 to 2028 is approximately 1.02% per year, indicating a consistent yet moderate increase in fluid milk supply over the forecast period.
Future trends to watch for include potential changes in consumer preferences towards plant-based milk alternatives, advancements in dairy farming technology, and regulatory changes that may impact the dairy industry's production capabilities and market dynamics.
