Industry Analysis & Industry Trends
The strengthening dollar has made imported spirits relatively cheaper for Canadians, which has led to a decrease in revenue for the domestic Distilleries industry. Over the past five years, IBISWorld anticipates that the value of the dollar has increased relative to the currencies of the country's major trading partners. Adding to the industry's woes, per capita alcohol consumption is on track to decrease about 0.4% per year on average over the same period. Thus, revenue is expected to fall at an annualized rate of 1.3% over the five years to 2014, including a 3.2% decline in 2014, to total $933.9 million.
Despite a contracting market for domestic brews, the Distilleries industry has seen an influx of new businesses... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
Despite increasing consumer interest in cocktails and growing consumer preference for premium products, higher demand for imported products has depressed the Distilleries industry's contribution to the economy, measured by industry value added (IVA). IVA is forecast to contract at an annualized rate of 0.4% during the 10 years to 2019, compared with the forecast average GDP growth of 2.4% per year during this time. New product offerings have prevented an even quicker decline in IVA
Younger drinkers aged have become an emerging market for distilleries and are increasingly the subject of distilleries' promotion activities. Ready-to-drink beverages, in particular, are targeted at this demographic... purchase to read more