The opening inventories of distilleries in Canada were valued at 472.48 million Canadian dollars in 2023. Over the past decade, these inventories have shown significant fluctuations, with a marked decline in 2017 followed by a recovery. Recent years have seen a steady increase, with a year-on-year growth rate of 4.12% in 2023. The compound annual growth rate (CAGR) for the last five years stood at 6.75%.
Looking forward, the forecasted data suggests a continued increase in inventories, with a five-year CAGR of 2.78% and a total growth rate of 14.69% by 2028. Key trends to watch include:
- Impact of global economic conditions on demand for Canadian spirits
- Regulatory changes affecting distilleries operations and inventories
- Growth of craft distilleries and their influence on overall inventory levels
- Technological advancements in production and storage
