Dairy Product Production in Canada - Market Size, Industry Analysis, Trends and Forecasts (2024-2029)

Milking It: Recent Free Trade Agreements Are Expected to Bolster Industry Exports and Imports

Producers of dairy products benefit from the government's supply management system impacting the dairy industry. This system controls the production and price of raw milk, lowering input price volatility. However, this also prevents producers from manufacturing additional products to export, capping revenue and hindering profitability. Many dairy products, such as butter, cheese and milk, are considered kitchen staples and are used as ingredients for many meals, resulting in somewhat steady demand for these products and protecting producers from drastic revenue losses. As a result, revenue has been growing at an estimated CAGR of 3.3% to $22.9 billion over the past five years, including a 2.6% jump in 2023 alone.

The Dairy Product Production industry in Canada mainly manufactures dairy products, such as cream, butter, yogourt and cheese, as well as pasteurized, dry, condensed and evaporated milk. The industry also manufactures substitute dairy products made from soybeans and other nondairy ingredients. Frozen dairy products such as ice cream and frozen yogourt are excluded from this industry.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.