After dynamic retail volume and current value growth rates for drinking milk products in 2020, 2021 is expected to see the opposite trend, with a decline in volume terms. This is because COVID-19 restrictions and fears are gradually easing and consumers return to more normal purchasing patterns.
Several products stand out for their strong growth rates in 2021, including milk alternatives. As the number of people turning away from cow’s milk increases due to dietary or health reasons, sales of these products are increasing strongly.
Drinking milk products in Canada is expected to remain highly consolidated in Canada in 2021, with three major dairy manufacturers continuing to dominate – Saputo, Agropur Cooperative and Lactalis Canada (rebranded from Parmalat Canada in 2019). Saputo is expected to maintain its lead in value terms in 2021.
Over the forecast period as a whole drinking milk products is expected to return to the performance seen over most of the review period, with a negative retail volume CAGR and a slow current value CAGR. Drinking milk products, and in particular milk, faces already high household penetration, a lack of true innovation (due in part to the tight regulation on dairy products), and an expanding ageing population less interested in beverages, including milk.
Growth in the next five years is expected to come from the super-premium segment, such as milk from grass-fed cows and A2 milk, and in the health and wellness segment, such as high-protein and organic drinking milk products. Ultrafiltered milk has already seen rising popularity, with Coca-Cola’s Fairlife and Saputo’s Joyya seeing rising sales as the filtering process increases the protein content and reduces the lactose.
Concern about cow’s milk is expected to ensure that other milk alternatives maintains the highest current value CAGR in the forecast period. Milk alternatives of various kinds are expected to see rapid expansion in terms of product offerings, shelf space, channel distribution and sales.
Files are delivered directly into your account soon after payment is received and any tax is certification is verified (where applicable).
Understand the latest market trends and future growth opportunities for the Drinking Milk Products industry in Canada with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Drinking Milk Products industry in Canada, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
This report originates from Passport, our Drinking Milk Products research and analysis database.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE! Home Page