The supply of Ice Milk in Canada has shown an overall upward trend over the years. From 2013 to 2023, the volume increased from 52.0 Thousand Kiloliters to 66.32 Thousand Kiloliters, reflecting a robust growth trajectory despite occasional fluctuations. The year-on-year growth rates have varied significantly, with a notable peak of 12.15% in 2015 and minor declines in other years. The recent data indicates a moderate growth with a year-on-year increase of 1.28% in 2023. The CAGR for the period from 2018 to 2023 stands at 1.12%, signifying steady growth.
Future trends to watch for:
• Projected supply is expected to continue its upward trend, reaching 70.46 Thousand Kiloliters by 2028.
• The forecasted 5-year CAGR is 0.96%, indicating a slight deceleration in growth rate compared to the past.
• Key factors such as consumer preferences, industry innovations, and regulatory changes will likely influence the supply dynamics of ice milk in the coming years.
