Over the last decade, coffee demand in Canada has shown fluctuations with an initial increase in the mid-2010s, reaching a peak in 2016. However, a noticeable decline followed from 2017 onwards, with a marked dip in 2020. Recovery attempts in subsequent years have not significantly altered the downward trend. By 2023, the demand was at 253 thousand metric tons, with recent year-on-year variations showing minimal declines and a CAGR of -0.16% over the past five years.
Forecasts up to 2028 suggest a continued slight decline in demand, with an expected average annual decrease of 0.22%, leading to an overall reduction of about 1.1% in this period. The predicted demand for 2028 stands at approximately 249.62 thousand metric tons.
Future trends to watch for:
- Potential shifts in consumer preferences towards alternative beverages or specialty coffee varieties.
- Impact of economic conditions and inflation on purchasing power and consumption habits.
- Environmental and ethical considerations influencing consumer choices.
- Technological advancements in coffee production and brewing methods.
