The Canadian soft drink and ice manufacturing industry has witnessed a steady growth trajectory over the past decade, with revenue increasing from 4.4576 billion CAD in 2013 to 5.1283 billion CAD in 2023. Observing year-on-year changes, the revenue showcased notable growth spurts, particularly in 2016 (2.62%), 2019 (2.85%), and 2022 (2.04%). The industry’s compound annual growth rate (CAGR) over the last five years (from 2018 to 2023) stood at a respectable 2.12%, indicating persistent and moderate growth.
Key points:
- Revenue in 2023: 5.1283 billion CAD
- Moderate but consistent year-on-year growth with slight fluctuations
- Highest growth in recent years: 2016 (2.62%) and 2019 (2.85%)
- 5-year CAGR (2018-2023): 2.12%
Future Trends to Watch:
Looking ahead, forecast data suggests the industry will continue its upward trend, reaching an estimated 5.6115 billion CAD by 2028. The forecasted 5-year CAGR from 2023 to 2028 is 1.43%, implying consistent but slightly reduced growth. Key trends to monitor include consumer shifts towards healthier beverage options, technological advancements in manufacturing, and potential regulatory changes impacting the industry.
