Forecast: Sales of Baked Goods in Non-Store Retailing in Canada

The sales of baked goods in non-store retailing in Canada have shown a significant upward trend over the past decade. Starting at 39.4 million CAD in 2013, they reached 118.46 million CAD in 2023. Despite a few fluctuations, the overall trajectory has been positive, with substantial growth observed particularly in the years following notable dips. For instance, after a decline in 2016, there was a significant surge in 2017. The average year-on-year variation over the last two years (2022 to 2023) was 2.32%, with a compound annual growth rate (CAGR) of 3.98% observed over the previous five years.

Future trends to watch for:

• Continued steady growth: The sales are forecasted to grow at a CAGR of 2.3% from 2024 to 2028, resulting in a total growth rate of 12.05% over five years.
• Increased consumer preference for convenience and online shopping may fuel further growth in the non-store retailing sector.
• Technological advancements in online retailing and delivery logistics may also enhance the market's accessibility and efficiency.
• Sustainability and health-conscious trends are likely to impact product offerings and consumer preferences further.