From 2013 to 2023, the Canadian soft drink market experienced a consistent decline in consumption, decreasing from 2.65 million kiloliters to 1.83 million kiloliters. This reflects a significant year-on-year contraction, with variations ranging from -1.36% to -7.81%. Over the last five years, the compound annual growth rate (CAGR) averaged at -3.27%, indicating a persistent downward trend.
From 2022 to 2023, soft drink consumption fell by 3.46%, slightly higher than the previous year’s decline of 3.4%. Moving forward, the forecasted data suggests a continued decline in consumption, with a 5-year CAGR of -3.03%, leading to an anticipated volume of 1.51 million kiloliters by 2028. This represents a cumulative drop of 14.25% from 2023 levels.
Future trends to watch for:
- Increasing consumer preference for healthier beverage options.
- Government regulations and taxes affecting sugary drinks.
- Innovations in low-sugar and alternative beverage markets.
