Gin sales in Canada have shown a steady upward trend from 2013 to 2023, reaching 12.38 million liters in 2023. Year-on-year variations highlight significant growth spurts in certain years, particularly in 2016, 2017, and 2020 with the highest growth recorded in 2020 at 12.85%. The compound annual growth rate (CAGR) over the last five years stands at 6.5%, indicating strong and consistent demand across the period.
From 2024 onwards, forecasted data suggest continued modest growth. By 2028, gin sales are expected to reach approximately 13.17 million liters, with a forecasted five-year CAGR of 0.99% and an overall growth rate of 5.06% from 2023. This represents a gradual deceleration in growth, but a sustained upward trajectory.
Future trends to watch for include the potential impact of new gin product innovations, changing consumer preferences towards premium and craft gin products, as well as influences from global market trends and economic conditions which might affect spending behavior in Canada.