In 2023, the actual household expenditure on carbonated and flavored water in Canada was 21 CAD. The forecast from 2024 to 2028 shows a steady increase in expenditure from 22 CAD in 2024 to 24 CAD in 2028.
The year-on-year percentage increase is consistent with no change in 2024 and 2025, followed by a 4.5% increase in 2026, remaining stable in 2027, and a further 4.3% in 2028. The compound annual growth rate (CAGR) from 2024 to 2028 is a modest 2.3%.
Future trends to watch:
- Consumer preferences shifting towards health-conscious options may boost flavored water sales.
- Promotional strategies by brands introducing new flavors could impact expenditure patterns.
- Economic factors such as inflation and income levels will play a crucial role in influencing consumer spending.
