Industry Analysis & Industry Trends
The strengthening loonie 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 the value of the dollar to increase at a 1.2% annualized rate relative to the currencies of the country's major trading partners. Adding to industry woes, per capita alcohol consumption is on track to deflate about 0.8% per year on average over the same period. Thus, revenue is expected to fall at a 1.0% annualized five-year rate, including a 0.5% decline in 2013 to total an estimated $943.0 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 0.5% during the 10 years to 2018, 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