Spirits sales in Canada are projected to rise from CAD 7.354 billion in 2024 to CAD 8.540 billion in 2028. This represents a compound annual growth rate (CAGR) of approximately 3.84%. Year-on-year, the market is expected to grow by about 4.1% in 2025, 3.9% in 2026, 3.7% in 2027, and 3.5% in 2028. It's noteworthy that actual sales stood at CAD 7.072 billion in 2023, marking a robust growth trajectory for the forecast period.
Future trends to watch for include:
- Increased consumer preference for premium and craft products.
- Expansion in distribution channels, including online sales.
- Growing emphasis on sustainability and transparency in production.
- Fluctuations in consumer purchasing power and economic conditions.
