Analysis of Rum Sales in Canada from 2013 to 2023 shows a mix of stability and slight variations. Sales in 2013 stood at 891.56 million CAD, gradually increasing to 980.79 million CAD by 2023. Despite occasional dips, such as in 2019 and 2022, the trend remained upward. The average year-on-year growth over this period varied, with the most significant increase in 2021 (6.61%), while other years remained below 3%. The five-year Compound Annual Growth Rate (CAGR) by 2023 was 1.86%.
Forecasts for 2024 to 2028 suggest a continuing rise, predicting sales to reach 1054 million CAD by 2028. This reflects a 5.86% overall growth over five years, with an average annual growth rate (CAGR) of 1.14%.
Future trends to watch for:
- Potential market saturation or shifts in consumer preferences.
- The impact of economic factors on disposable income and leisure spending.
- Changes in import/export regulations and taxation policies on alcoholic beverages.
- Emerging trends in premiumization and craft spirits.
