The consumption of ciders, coolers, and other refreshment beverages in Canada has shown robust growth over the last decade. From 2013 to 2023, the market expanded significantly from 113.49 Thousand Kiloliters to 432.96 Thousand Kiloliters, making 2023 a milestone year with considerable market volume. Year-on-year growth rates have varied, exhibiting both periods of steady growth and sharp increases. Notably, the CAGR from 2018 to 2023 has been substantial at 19.09%, demonstrating increased consumer adoption and market expansion.
Analysis of the past two years shows a marked variation with 2022 experiencing an 11.92% increase over 2021 and 2023 a further 17.06% increase over 2022. These variations highlight accelerating growth, particularly driven by diversified product offerings and changing consumer preferences. Looking ahead, forecasted data underscores continued growth with a projected 5-year CAGR of 8.07%, highlighting a sustained upward trajectory with an anticipated volume of 725.16 Thousand Kiloliters by 2028, marking a 47.4% growth rate from 2023.
Future trends to watch include the rise of new flavors and healthier beverage options, increased market penetration of low-alcohol and alcohol-free variants, and the influence of seasonal and regional preferences. Market participants should focus on innovation and consumer trends for maintaining competitive advantage.
