Forecast data for distilled spirits consumption in Canada from 2024 to 2028 exhibit a steady, albeit slight, annual increase. In 2023, the consumption stood at 193.75 thousand kiloliters. Over the forecast period, the year-on-year percentage variation ranges from approximately 0.06% to 0.09%. Given that the average CAGR for the next five years is around 0.06%, it indicates a modest but consistent upward trend in the consumption of distilled spirits.
Future trends to watch for:
- Changing consumer preferences towards premium and craft spirits.
- Impact of economic factors such as disposable income and pricing strategies.
- Potential regulatory changes affecting the alcohol industry.
- Emerging influence of sustainability and eco-friendly production practices on consumer choices.