The vodka sales in Canada have seen a general upward trend from 2013 to 2023. The value of vodka sales increased from 1.253 billion CAD in 2013 to 1.6152 billion CAD in 2023, reflecting a steady growth. Notably, significant growth was observed in 2020 and 2021, with year-on-year variations of 6.32% and 5.95%, respectively. However, 2022 saw a slight dip of -1.62% before rebounding with a 3.12% increase in 2023. The Compound Annual Growth Rate (CAGR) over the last five years was 3.34%.
Moving forward, the forecast predicts a continual rise in vodka sales, reaching 1.8504 billion CAD by 2028. The projected 5-year CAGR stands at 2.16%, with an overall growth rate of 11.25% from 2023 to 2028.
Future trends to watch for include shifts in consumer preferences towards premium and craft vodka brands, as well as the potential impact of economic factors and regulations on alcohol sales. The influence of health trends and the increasing desire for low-alcohol or alcohol-free alternatives could also shape the market’s future.