The Canadian Sparkling Wines market showed varied trends over the past decade with an initial decline followed by minor recoveries, and a recent decline. Sales volume in 2023 stood at 3.98 million liters. Year-on-year analysis reveals notable fluctuations, particularly sharp declines in 2013, 2014, and 2018. Positive growth occurred in 2015, 2016, 2017, 2020, and 2021, with the most substantial increase in 2022 at 6.17%. However, 2023 experienced a dip of 7.12%. The most recent 5-year CAGR before 2023 averaged at 0.5%.

Future trends:

The sales volume is forecasted to continue its downward trajectory, with a 5-year CAGR projected at -1.33% from 2024 to 2028.
By 2028, the sales volume is anticipated to decrease further to 3.66 million liters, indicating a 6.47% drop over five years.
Trends to monitor include shifts in consumer preferences, emerging local and international competitors, and potential impacts of economic factors on discretionary spending.