Over the years, the employment in the Beverages Sector in Canada has shown a fluctuating yet generally upward trend. In 2023, the value stood at 53.25 thousand persons. The sector saw notable growth particularly after 2020, bouncing back from a slight dip. Notably, the employment figures surged by 10.09% in 2021 and witnessed continuous growth through to 2023 with a year-on-year increase of 2.58%. The Compound Annual Growth Rate (CAGR) over the past 5 years is 4.29%, indicating consistent expansion.
Future projections from 2024 onwards suggest a steady increase in employment, with an estimated CAGR of 2.12% over the next five years, leading to a forecasted total growth rate of 11.08% by 2028. This suggests that the sector will continue to expand, although at a slightly slower rate compared to the past observed period.
- Employment in the Beverages Sector in Canada in 2023: 53.25 thousand persons
- 5-Year historical CAGR (2018-2023): 4.29%
- Forecasted 5-Year CAGR (2024-2028): 2.12%
- Forecasted 5-Year Growth Rate (2024-2028): 11.08%
Future trends to watch for include the impact of technological advancements, shifts in consumer preferences towards healthier beverages, and potential regulatory changes concerning beverage production and labor. These factors will likely play a significant role in influencing employment dynamics in the sector.
