Forecast: Imported Spirits Sales in Canada

In 2023, imported spirits sales in Canada stood at 97.88 million liters. Over the past decade, the market exhibited a steady growth trajectory, averaging a 3.1% year-on-year increase from 2013 to 2019. The period from 2020 to 2023 showed a similar growth pattern with a 4.51% increase in 2023, despite a slight decline in 2022. Key fluctuations include a notable increase of 7.34% in 2021. Over the last five years, the average annual growth rate (CAGR) was 3.87%.

Future trends to watch for:

• Continued growth with a forecasted 5-year CAGR of 2.38% from 2024 to 2028
• Total expected growth of 12.48% over the same period
• Potential market impacts from evolving consumer preferences and regulatory changes
• The growing trend towards premium and craft spirits