In 2023, Canada's butter import stood significantly lower than the 2024 forecast of 35.0 thousand metric tons. From 2024 to 2028, projections indicate a gradual increase in butter imports, with a stable rise from 35.0 to 37.0 thousand metric tons. The year-on-year variation demonstrates a consistent, albeit moderate, growth pattern: approximately 2.86% annually over the initial two years, stabilizing thereafter. The compound annual growth rate (CAGR) over the forecasted period reflects steady annual growth, indicating an average increase associated with demand consistency.
Future trends to monitor include changes in domestic dairy production, potential trade agreements affecting import tariffs, and shifting consumer preferences towards plant-based alternatives, which may influence Canada's butter import trajectory.
