Canada Foodservice Market- Growth, Trends, and Forecast (2020 - 2025)

Canada foodservice market is anticipated to reach USD 85. 54 billion by 2024, witnessing a CAGR of 4% during the forecast period (2020 - 2025). - The changing demographics of the population, along with the increase in the number of health conscious millennial and boomers, have given rise to the increased demand for food products addressing the health and wellness of Canadians.

New York, May 28, 2020 (GLOBE NEWSWIRE) -- announces the release of the report "Canada Foodservice Market- Growth, Trends, and Forecast (2020 - 2025)" -
The market is primarily driven by the increasing frequency of dining out, as well as time-pressed schedules and the growing influence of cross-culture dietary patterns, due to the strong presence of the international companies. For instance, according to the General Social Survey, about 54% of the Canadians eat out once a week or more, due to the convenience and socializing factor. According to the USDA, the United States dominates the Canadian market for imported prepared food products with 86% of the total market
- Full-service restaurants are growing with the fastest growth rate. Quick-service restaurants or full-service restaurants hold a prominent share in the overall food service business in Canada. The Canadian foodservice business is constantly growing, due to Canada’s economy, which is operating at full capacity. Millennials in the country are reported to add a boost to the Canada foodservice industry.

Key Market Trends
Rapid Expansion of Global Foodservice Brands

Yum! Brands, one of the largest foodservice provider in Canada, with popular brands, such as KFC, and Pizza Hut, is embarking on huge expansion plans across the country, in order to effectively penetrate its presence in targeted cities, such as Toronto, Vancouver, Calgary, Montreal, Halifax, Ottawa, Edmonton, and many more. The companies, such as McDonald’s and Starbucks Corporation, are also undertaking expansion plans, rolling out innovative menus, and enhancing their portfolio, in order to gain a stronghold in this lucrative market. For instance, according to Starbucks Corporation, the number of stores in Canada increased and reached to 1518 (Licensed and Company-Owned stores) in 2018, while it was 1174 in 2012. Moreover, there were 3,240 subway stores in Canada in 2017, whereas in there were around 2,815 stores. Similarly, Tim Hortons restaurants in Canada reached to 3,802 in 2016, while there were about 3,436 in 2012. Tim Hortons Inc. is Canada’s largest quick-service restaurant chain, specialized in coffee and donut items.

Chained Restaurants To Drive The Canadian Market

The growing concerns with obesity and other health issues, such as food allergies and sensitivities, created opportunities for chained restaurants that can deliver fresh and natural food solutions. Thus, to sustain and succeed in this competitive environment, it is important for the vendors to distinguish their products and services through a clear and unique value proposition. The foodservice providers, such as fast food restaurants, cafés, and quick-service restaurants majorly rely on effectual marketing, advertising, and product campaigns to increase the sales and create awareness about their offerings.

Competitive Landscape
Canada foodservice industry is highly fragmented due to the substantial number of small, independent single-location restaurants that operate in the market. The major players in the market include McDonald’s Corp., Burger King Corporation, and Starbucks Corporation among others. Both, the global, as well as local players, are gaining popularity and continue to expand in the country.

Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- Report customization as per the client’s requirements
- 3 months of analyst support
Read the full report:

About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.



Contact Data