The household expenditure on tea in Canada is forecasted to increase from CAD 37.37 in 2024 to CAD 39.27 in 2028, reflecting a consistent and steady upward trend.
The year-on-year growth rates for tea expenditure from 2024 to 2028 are around 1.3% to 1.4%. Over the five-year forecast period, the compound annual growth rate (CAGR) is approximately 1.23%. In contrast, in 2023, the actual expenditure stood at CAD 36.88, serving as a baseline for these projections.
Future trends to watch for include:
- Fluctuations in consumer preferences towards specialty and organic teas.
- Influence of health and wellness trends boosting tea consumption.
- Impact of macroeconomic factors such as inflation and disposable income changes on tea purchasing behavior.
