The forecast for labor costs in the Canadian beverage sector shows a steady trend upwards from 2024 to 2028, increasing from 3.23 billion to 3.49 billion Canadian Dollars. The year-over-year growth rate is consistent, with an average increase of approximately 2% per annum. In 2023, labor costs were significantly below this projection, highlighting a rising cost trend expected over the next five years, with an overall compound annual growth rate (CAGR) that reflects steady industry expansion and wage increases.

In terms of future trends, attention should be given to:

Potential changes in minimum wage laws and labor regulations.
Innovations and automation in beverage manufacturing that may affect labor demand.
Economic factors such as inflation and exchange rate fluctuations impacting labor costs.