The analysis of yogurt consumption in Canada from 2013 to 2023 presents a varied trend. From 2013 to 2015, there was an increase in consumption with significant year-on-year jumps, peaking in 2015. However, from 2016 onwards, the trend shifted towards a general decline with minor fluctuations. For instance, the consumption volume stands at 344.29 Thousand Kiloliters in 2023, reflecting a slight reduction of 0.56% from the previous year. The compound annual growth rate (CAGR) over the last five years (2019-2023) is negative at -1.2%, indicating a steady decline.
Looking ahead, the forecast data from 2024 to 2028 projects a continued gradual decline in yogurt consumption. The 5-year forecast CAGR is -0.35%, suggesting further reduction but at a slower rate compared to the past five years. Factors to watch for include shifts in consumer preferences toward alternative health foods, potential innovations in the yogurt market, and broader economic conditions impacting consumer spending patterns on dairy products.
