Gin sales in Canada have shown a consistent upward trend from 2013 to 2023, standing at 465 million Canadian Dollars in 2023. The period witnessed significant year-on-year growth, peaking at 17.62% in 2020 and gradually decreasing to around 3.1% in 2023. The Compound Annual Growth Rate (CAGR) over the last five years (2018-2023) was robust at 10.19%.
Forecasts for 2024-2028 predict a more moderate growth, with a forecasted 5-year CAGR of 2.13%, signifying a potential stabilization in gin sales. Total projected growth from 2024 to 2028 is estimated at 11.1%, suggesting slower but steady expansion.
- 2013-2023: Steady growth with a peak in 2020.
- 2024-2028: Moderate growth projected, indicating stabilization.
Future trends to watch include consumer preferences shifting towards premium and craft gin, potential impacts of economic fluctuations, and regulatory changes affecting the alcohol market. These factors could influence the growth trajectory and market dynamics over the coming years.