Dairy Product Production in Canada
This industry experiences little volatility as milk production at upstream dairy farms is strictly regulated in terms of production and price. As a result, industry inputs are stable and downstream markets consider industry products to be grocery essentials, resulting in steady demand with little regard to prevailing economic conditions. While the industry is insulated against severe price shocks or supply imbalances, this also prevents it from realizing significant growth, and industry performance is closely tied to consumer trends related to dairy products. Over the five years to 2018, IBISWorld estimates that industry revenue has declined slightly. Over the next five years, producers will seek growth by continuing to focus on high-margin products such as cheese and yogourt. Overall, revenue for the Dairy Product Production industry in Canada is expected to increase over the five years to 2023.
This industry 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.
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