Imported rum sales in Canada have shown a steady increase over the years, reaching 12.53 million liters in 2023. From 2013 to 2023, sales grew consistently, with notable year-on-year variations like the 35.79% increase in 2018. The 5-year CAGR leading up to 2023 reflects a robust growth at an average of 7.64% annually.
From 2024 onwards, sales are forecasted to grow at a slower pace with a 5-year CAGR of 3.75%, indicating a more moderate expansion but still positive growth overall.
Future trends to watch for include:
- Consumer preferences shifting towards premium and craft rum varieties.
- The impact of economic fluctuations on luxury spirit consumption.
- Increased competition from domestic distilleries and other imported spirits.
