In 2023, the import value of Gin and Geneva to Canada stood at 51.065 million US dollars. The data indicates variable growth over the past decade, with notable fluctuations in year-on-year variation. Over the last two years, the import value grew by 8.73% in 2022 and 3.12% in 2023. The compound annual growth rate (CAGR) over the last five years (2018-2023) is 3.82%. Between 2013 and 2023, the CAGR shifted from highs of 8.94% to lows of 2.58%, highlighting volatility. The forecast from 2024 to 2028 suggests moderate growth with a 5-year CAGR of 2.33%, resulting in a 12.19% overall growth rate by 2028.
Future trends to watch for:
- Market stabilization post-COVID-19 related disruptions
- Increasing consumer demand for premium beverages
- Potential trade policy changes affecting import dynamics
- Emerging local competitive products impacting import volume
