Canadian whisky sales in Canada have seen notable fluctuations over the last decade, with values expressed in million Canadian dollars. From 2013 to 2023, the market showed periods of decline and growth, notably dropping by -0.71% in 2015 but recovering with a 4.24% increase in 2016. The period from 2018 to 2023 showcased a generally positive trend, marking a CAGR (Compound Annual Growth Rate) increase to 1.72% by 2023, even with some minor dips.
By 2023, Canadian whisky sales stood at 996.43 million CAD, reflecting minor growth as compared to the previous year with a year-on-year increase of 0.63%. Analyzing the last two years, 2021 saw a 4.09% rise, while 2022 experienced a slight decrease of -1.12%. The 5-year CAGR leading up to 2023 was 1.72%, indicating a moderate but steady growth rate.
Looking forward, the forecast data from 2024 to 2028 anticipates continued growth, albeit at a slower pace with a forecasted 5-year CAGR of 0.47% and an overall growth rate of 2.39%. Key future trends to watch for include potential shifts in consumer preferences, the impact of new product innovations, and possible regulatory changes affecting the alcohol industry. Additionally, market dynamics such as emerging competitors, branding strategies, and international trade policies may influence the Canadian whisky market's trajectory.