The forecasted data indicates a gradual decline in beef meat import volume in Canada from 2024 to 2028, beginning at 211.06 thousand metric tons in 2024 and decreasing to 197.92 thousand metric tons by 2028. As of 2023, the import volume stood at approximately 214 thousand metric tons, marking a downward trend.
The annual decrease from 2024 to 2028 shows a consistent reduction, with a year-on-year percentage drop of roughly 1.6% from 2024 to 2025, and diminishing further by about 1.5% annually through 2028. The compound annual growth rate (CAGR) over these five years indicates a steady average decline of around 1.6% per year.
Future trends to watch include:
- Fluctuations in global beef supply and demand affecting import volumes.
- Changes in Canada's domestic beef production capacity.
- Impact of trade agreements and tariffs on meat imports.
- Consumer behavior shifts toward alternative protein sources.
