A 20 per cent tax on companies that make sugary drinks could help save more than 13,000 lives over the next 25 years, according to a University of Waterloo study released Thursday.

It would also save $11.5 billion on health-care spending and bring in $43.6 billion in government revenue.

"We know Canadians – including our children – are consuming too much sugar and sugary drinks in particular are harming our health," said Mary Lewis of the Heart and Stroke Foundation in a release.

"These products are not essential groceries, providing little to no nutritional value, and a levy is one proven way to help reduce consumption and support healthy living initiatives

In 2015, the average Canadian youth consumed 578 millilitres of sugary drinks each day — or approximately one-and-a-half standard pop cans.

If sugary drink manufacturers were taxed, researchers estimate it would prevent:

600,000 cases of obesity

200,000 cases of type 2 diabetes

60,000 cases of ischemic heart disease

20,000 cases of cancer

8,000 strokes

In light of the report's findings, nearly two dozen organizations, including Diabetes Canada, the Childhood Obesity Foundation and the Canadian Cancer Society, have endorsed a call to action for Canadian government to tax sugary drinks.