The forecasted ice milk consumption in Canada shows a consistent year-on-year increase: 67.16 thousand kiloliters in 2024, growing to 67.99 in 2025, 68.82 in 2026, 69.64 in 2027, and reaching 70.46 in 2028. The series indicates a steady growth pattern from 2024 onwards, with each year showing between approximately 1.2% and 1.3% increases over the previous year. In 2023, the actual consumption stood at 66.34 thousand kiloliters. The CAGR, calculated over these five years, demonstrates an average annual growth rate of around 1.3%.
Future trends to watch for include potential impacts from health and wellness movements, which may drive consumers towards alternative frozen desserts, and climate changes affecting dairy production. Additionally, economic factors and changes in disposable income could significantly influence ice milk consumption patterns.
