The craft beer industry in Canada has been experiencing a steady growth over the past several years. The popularity of craft beer has surged due to a growing consumer preference for locally brewed beer and the unique flavors and experiences offered by craft breweries. As per the Canadian Craft Brewers Association, there were over 1,000 craft breweries in Canada as of 2020, with many more expected to open.
According to a report by Mordor Intelligence, the craft beer market in Canada is expected to register a Compound Annual Growth Rate (CAGR) of 14.74% during the forecast period, 2021-2026. This growth is largely driven by the increasing consumption of craft beer and the rising number of craft breweries in the country. This could provide a promising opportunity for new craft beer businesses.
However, while the industry's growth potential is strong, it's also important to consider the competition. The increasing number of craft breweries means more competition, not just in terms of beer production, but also in securing shelf space in retail stores and on tap in bars and restaurants. Hence, a solid business strategy and unique selling proposition will be necessary to stand out in this booming market.
The craft beer market in Canada is growing. Opening a local microbrewery or a craft beer pub could cater to this demand.