Between 2013 and 2023, Canadian Red Wine sales in Canada showed consistent growth. The sales value increased from CAD 818.71 million in 2013 to CAD 1186.1 million in 2023. Despite a drop in 2022, indicative of market volatility or external factors, there was a recovery in 2023 with a year-on-year increase of 5.67%. Over the last five years (2018-2023), the compound annual growth rate (CAGR) was around 2.86%, reflecting steady albeit modest growth.
The forecasted data suggest a continued increase in sales, reaching CAD 1327.7 million by 2028, indicating a forecasted five-year CAGR of 1.79% and a total growth rate of 9.28% over the period. Future trends to watch for include changes in consumer preferences, potential impacts from economic fluctuations, and market responses to rising interest in sustainability and local sourcing.
