An analysis of the variety cheese supply in Canada reveals consistent growth from 2013 to 2023. Starting at 297.83 thousand metric tons in 2013, the supply steadily increased to 419.67 thousand metric tons by 2023. The year-on-year growth rates over the last two years were 0.68% in 2022 and 2.06% in 2023, indicating a slight uptick. The 5-year CAGR from 2018 to 2023 stood at 2.21%, showcasing moderate annual growth.
Forecasted data from 2024 to 2028 suggests continued expansion, with the supply reaching 460.35 thousand metric tons by 2028. The projected 5-year CAGR from 2024 is 1.47%, amounting to an overall growth rate of 7.59% over the period.
Future trends to watch for include potential impacts of changing consumer preferences, the introduction of new cheese varieties, and the influence of trade agreements. Additionally, sustainability and regulatory changes in the dairy industry may significantly affect cheese supply dynamics.
