Canada's variety cheese import volume in 2023 was 44.55 thousand metric tons, marking a robust 6.66% year-on-year growth. Over the past decade, there has been steady growth, with significant acceleration observed after 2018. The compound annual growth rate (CAGR) for the past five years (2018-2023) stands at an impressive 10.37%, indicating a strong upward trend in cheese imports.
Looking ahead, projections from 2024 to 2028 show a continuation of this growth trend, albeit at a more moderate pace. The forecasted 5-year CAGR is 3.28%, culminating in a 17.49% total growth rate. From the data observed, Canada's increasing demand for a variety of cheese imports is expected to persist, driven by factors such as changing dietary preferences, population growth, and intensifying interest in gourmet and specialty cheeses.
Future trends to watch for include potential impacts of trade policies, shifts in consumer preferences towards organic or niche cheese varieties, and fluctuations in global dairy production affecting supply chains and import volumes.
