Canadian liqueurs sales have demonstrated a robust growth trajectory over the past decade, expanding from 5.22 million liters in 2013 to 11.41 million liters in 2023. The year-on-year growth rates reveal significant increases, particularly from 2018 onwards with double-digit growth in several years. Specifically, an 11.04% increase was noted in 2023. Over the last five years, the compound annual growth rate (CAGR) stands at 10.83%, underscoring a strong upward trend.
Looking ahead to the future, sales are forecasted to continue growing, with a projected CAGR of 6.11% from 2024 to 2028, resulting in an estimated volume of 16.86 million liters by 2028, marking a 34.52% growth rate over this period.
Key trends to watch for in the coming years include:
- The rise of premium and craft liqueurs, as consumers increasingly seek higher quality and unique flavors.
- Growing interest in health-conscious choices may spur innovation in low-alcohol and naturally-flavored options.
- Marketing and distribution strategies leveraging digital platforms and e-commerce to reach a wider audience.