BMO Wine Report: Are Canadian Producers Poised to Uncork Another Vintage Decade Of Growth?
BMO Wine Report: Are Canadian Producers Poised to Uncork Another Vintage Decade Of Growth?
Jul 6, 2011 6
(Marketwire) - The Canadian wine industry has grown at a relatively fast pace, particularly since the late 1990s. However, there are definite challenges ahead for the industry to maintain its domestic market share against foreign competition and also grow in global markets, according to a new report from BMO Capital Markets Economics.
Wineries output - measured by real GDP - has grown at an average annual rate of 7.6 per cent since 1998, much faster than the overall beverage sector (1 per cent). The industry's expansion contrasts with a declining output trend for the manufacturing sector as a whole during the same timespan.
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