PROSPECTS AND OPPORTUNITIES
Robust growth expected, led by luxury whiskies and champagne
Over the forecast period, fine wines/champagne and spirits is expected to experience robust growth in both value and volume, following a subdued performance in 2024. Off-trade volumes are likely to see positive movement, despite the continued influence of the wellness trend, where health-conscious consumers are moderating their alcohol intake.
On-trade growth supported by nightlife initiatives, immigration, and major events
Although off-trade sales are expected to remain resilient, particularly due to the rise of alcohol delivery services and the lingering effects of the pandemic-driven home consumption trend, on-trade sales are forecast to be the primary driver of growth in the coming years. Improvements in the economy, especially with anticipated reductions in inflation and interest rates, are expected to bolster the foodservice sector, leading to a resurgence in on-trade consumption.
RTDs expected to continue trending with younger consumers, offering new opportunities for luxury brands
Ready-to-drink (RTD) beverages were the top-performing category in non-luxury alcoholic drinks in 2023 and 2024, and this momentum is expected to continue, particularly among younger consumers such as Generation Z. This demographic has shown a strong preference for innovative flavours and distinctive packaging, with several non-luxury brands launching new RTD products to meet the growing demand.
Delivery:
Files are delivered directly into your account soon after payment is received and any tax is certification is verified (where applicable).
This report comes in PDF with additional info in Excel included.
Overview:
Understand the latest market trends and future growth opportunities for the Fine Wines/Champagne and Spirits industry in Canada with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Fine Wines/Champagne and Spirits industry in Canada, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Fine Wines/Champagne and Spirits in Canada report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Fine Wines/Champagne and Spirits in Canada?
- Which are the leading brands in Fine Wines/Champagne and Spirits in Canada?
- How are products distributed in Fine Wines/Champagne and Spirits in Canada?
- How important is tourism in evaluating demand for Fine Wines/Champagne and Spirits in Canada?
- How is the rise of e-commerce changing the retail and competitive landscape?
- How has COVID-19 and global recession impacted demand for luxury goods? What are the opportunities amidst the adversity?
- Where is future growth expected to be most dynamic?
Fine Wines/Champagne and Spirits in Canada - Category analysis
KEY DATA FINDINGS
Cautious discretionary spending slows growth amid economic headwinds
Luxury drinks brands focus on image and authenticity through events
Packaging innovations and distribution changes boost brand visibility
Robust growth expected, led by luxury whiskies and champagne
On-trade growth supported by nightlife initiatives, immigration, and major events
RTDs expected to continue trending with younger consumers, offering new opportunities for luxury brands
Luxury Goods in Canada - Industry Overview
Luxury goods in 2024: The big picture
2024 key trends
Competitive landscape
Retailing developments
What next for luxury goods?
DISCLAIMER
The following categories and subcategories are included:
Fine Wines/Champagne and Spirits
-
- Fine Champagne
- Other Fine Wine
-
- Luxury Brandy and Cognac
- Luxury Whiskies
- Other Luxury Spirits
Fine Wines/Champagne and Spirits
This is the aggregation of fine wines and luxury spirits.
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Fine Wines/Champagne and Spirits research and analysis database.
NEW REPORT GUARANTEE
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extraction Free!