In 2023, the ice cream supply in Canada stood at 177.44 thousand kiloliters. Over the last two years, the supply showed a negative trend with a -0.12% change from 2022 to 2023. Analyzing the past five years, the Compound Annual Growth Rate (CAGR) was 3.54%, indicating an overall increasing trend.
Looking at the forecast from 2024 onwards, the ice cream supply in Canada is expected to slightly decline, with a projected CAGR of -0.12% over the next five years. By 2028, the supply is forecasted to reach around 176.0 thousand kiloliters, showcasing a minor decrease from the 2023 level.
Future trends to watch for include:
- Impact of changing consumer preferences towards healthier alternatives.
- Potential market shifts due to climate changes affecting dairy production.
- Innovation in flavors and product diversification driving consumer interest.