Frozen Food Production in Canada - Industry Market Research Report

Ice cold: Rising disposable income and shifting health trends will likely drive industry growth

The Frozen Food Production industry in Canada is expected to grow as companies have developed a variety of healthier offerings that appeal to more consumers. These new products have helped revamp the industry's image and have increased demand for goods. Historically, consumers have diverted from frozen goods in favour of fresh products during period of rising income levels, which are traditionally considered healthier. However, producers have worked to ameliorate this by offering increasingly nutritious products. The Canadian dollar has, at the same time, stabilized well below historic highs, promoting an expansion of export revenue. Buoyed by additional demand spawned by the COVID-19 pandemic, industry revenue is forecast to rise at a CAGR of 4.3% to $7.3 billion over the five years to 2023, including 4.8% during the current year. Companies produce frozen food products, like frozen fruits, vegetables and juices; frozen entrees and side dishes, excluding seafood; frozen whipped toppings, excluding dairy; and frozen waffles, pancakes and French toast. These products are subsequently distributed to outlets like grocery wholesalers, retail food stores and compoanies in the hospitality industry.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.