Canadian Brandy sales in Canada have been in a consistent decline from 2013 to 2023, starting at 1.04 million liters and falling to 0.7 million liters by 2023. The year-on-year variation has been largely negative, with a slight exception in 2021, where there was a modest increase of 1.92%. Over the last five years, the Compound Annual Growth Rate (CAGR) from 2018 to 2023 has averaged around -2.34%, indicating a sustained downward trend.
Future trends indicate a continued decline in Canadian Brandy sales, with forecasted values showing a decrease to 0.609 million liters by 2028. The projected five-year CAGR from 2024 to 2028 is -2.24%, suggesting a diminishing market presence over the long term.
Trends to watch for:
- Potential market saturation and changing consumer preferences.
- Impact of economic factors and regulatory changes on alcohol consumption.
- Shifts towards premium and craft spirits as opposed to traditional brandy.