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Canadian Cheese Market on a Growth Path: Projected to Reach USD 4.034 Billion by 2028

Canada 11.10.2024
Source: DairyNews.today
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The Canadian cheese industry is on a notable growth trajectory, with a market valuation of USD 3.47 billion as of 2023. This upward trend is expected to continue, reaching USD 4.034 billion by 2028, translating to a compound annual growth rate (CAGR) of 3.06%, according to ResearchAndMarket. 
Canadian Cheese Market on a Growth Path: Projected to Reach USD 4.034 Billion by 2028

Between 2018 and 2023, the market demonstrated strong resilience, achieving a CAGR of 3.71%. In 2023, total sales reached CAD 4.68 billion—a 4.18% increase from the previous year—with 2022 marking the highest annual growth rate at 6.30%.

The forecasted growth reflects rising demand across both natural and processed cheese varieties. 


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