The forecast for skim milk consumption in Canada suggests a declining trend from 2024 to 2028. In 2023, actual consumption data stood higher than forecasted levels for 2024 onwards. Between 2024 and 2028, consumption is projected to decrease consistently, with a year-on-year reduction averaging around 4 to 5%. Over the five-year period, the compound annual growth rate (CAGR) reflects a downward trajectory in consumption.
Future trends to watch for in the Canadian skim milk market include increasing consumer preference for plant-based alternatives and potential impacts of health trends advocating reduced dairy intake. Economic conditions and changes in consumer behavior could further influence these trends.
