In 2023, Canada imported sparkling grape wines valued at an estimated 196.5 million USD. Forecasted figures show a steady increase from 2024 to 2028. The value is projected to grow from 202.48 million USD in 2024 to 226.65 million USD by 2028.
Key Year-on-Year Variations:
- 2024 to 2025: 3.07% increase
- 2025 to 2026: 2.93% increase
- 2026 to 2027: 2.78% increase
- 2027 to 2028: 2.66% increase
The compound annual growth rate (CAGR) over the five-year period is projected to be approximately 2.96%. This consistent growth indicates strong demand in the Canadian market.
Future Trends to Watch:
- Impact of global inflation and economic fluctuations on wine imports.
- Changes in consumer preferences towards local versus imported wines.
- Influence of Canada's trade policies on wine importation costs and volumes.
