The food services market defines those businesses, institutions, and companies responsible for any meal prepared outside the home. Over the years, the fast-food industry in Canada has revolutionized in size. In addition, the Canadian foodservice industry has also grappled with consumer preferences growing with the rapid rise of fast food consumption. Wherein the millennials and generation Zers are prodigious are the major fast-food spenders in the industry. The food sector traditionally includes food and beverages items; however, with the evolution of time, plant-based products have also been added to the food list. According to the publisher, Canada Food Service Market will be US$ 102.98 Billion by 2027.
Canada Food Service Industry – Market Drivers & Growth Trends:
The strong growth in the Canadian economy and high levels of consumer confidence is acting as significant market driver for industry operators. Besides, consumers are more willing to spend on discretionary products and services, such as fast food, when they feel confident about their finances, and the condition of the overall economy is also trending the market growth.
Further, with more access to technology, changes in legislation and increasing competition in the marketplace, consumers will begin to become better versed in understanding the ingredients in foods used in the industry, moving more conveniently towards fast food options. Our research findings state that Canada Restaurant Industry will grow with a nominal CAGR of 1.50% during 2021-2027.
Canada Foodservice Market Size was US$ 94.19 Billion in 2021:
The Canadian fast food industry is segmented into quick-service restaurants, full-service restaurants, caterers and drinking places. Full-service restaurant markets are growing with high growth rates. Besides, quick-service restaurants also hold a prominent share in the overall fast-food business in Canada. The relatable expansion of the Canadian foodservice business is constantly supported by Canada's economy, operating at total capacity. Incrementally raising wages has propelled wherein fast food spending, population growth, the wealth effect from the highest housing prices in Canada, an increase in tourism, and a strong economy boost the Canadian restaurant industry.
Provincial Outlook – Canada Foodservice Market:
The fast-food industry is embarking on a substantial expansion plans across Canada to effectively penetrate its presence in targeted provinces, such as Newfoundland & Labrador, Prince Edward Island, Nova Scotia, New Brunswick, Quebec, Ontario, Manitoba, Saskatchewan, Alberta and British Columbia.
Ontario, Quebec and British Columbia lead in foodservice market growth throughout while Newfoundland and Alberta struggle to gain ground in the industry. With moderation from the significant increases in recent years, Ontario is among Canada's fastest restaurant market growth due to a growing population and healthy job creation numbers. Hence as per our analysis, Ontario's foodservice industry will keep leading the fast-food seemingly healthy throughout the forecasted period.
On the other hand, Quebec's fast food industry boasted average annual market growth year on year over the past years. Growth was propelled by the active consumer, business, and tourist spending at restaurants and drinking places. Similarly, over the years, the fast-food market in British Columbia has also increased amongst the highest growth figure in Canada.
COVID-19 Impact on Canada’s Foodservice Market:
The overall fast-food business has had a definite impact with the COVID-19 outbreak, with various segments being affected in varying degrees in Canada. Fast-food operators and caterers are on the front line of rising inflation. Moreover, dine-in was the worst-hit segment in a restaurant, mainly due to the travel restrictions and a general avoidance of people getting into a more extensive gathering amidst pandemic. In addition, post-recovery from the pandemic, we expect the fast-food business to perform slightly better with the infrastructure to accommodate the consumers' demand.
Competitive Landscape:
Canada's foodservice industry is extremely competitive due to the abundant number of independent, small, single-location restaurants that operate in the market. The major players in the market include Starbucks Corp., Papa John's International Inc., Domino's Pizza Inc., The Wendys Co. and Performance Food Group. As per our analysis, these players have gained popularity and will continue to expand in Canada.
Further, the players are also undertaking expansion plans, rolling out innovative menus, and enhancing their portfolios to gain a firm foothold in this fruitful market. For instance, in the year 2020, company Tim Hortons has introduced three types of Dream Donuts all over Canada. The three varieties include the Strawberry Confetti, Dulce de Leche Crème, and Chocolate Truffle.
This report “Canada Foodservice Market, Forecast By Restaurant Type (Quick Service Restaurants, Full Service Restaurants, Caterers and Drinking Places), Province (Newfoundland & Labrador, Prince Edward Island, Nova Scotia, New Brunswick, Quebec, Ontario, Manitoba, Saskatchewan, Alberta and British Columbia), Traffic (Full Service Restaurants (Morning Meal, Lunch, Supper and PM Snack) and Quick Service Restaurants (Morning Meal, Lunch, Supper and PM Snack), Food Items (French Fries, Potato, Sweet Potato, Onion Rings, Breakfast Item, Burger, Sandwich, Subs, Chicken, Breads, Salad, Pizza, Panzerotti, Calzone, Cakes, Squares, Muffins and Vegetarian Item (Incl Eggs/Dairy)), Beverage Items (Coffee, Carbonated Soft Drink, Pop, Soda, Water (includes tap water), Hot Tea, Alcoholic Beverages, Fruit Juice, Iced Tea, Milkshakes, Smoothies, Milk and Hot Chocolate), Plant-Based Products (Plant-based burgers and sausagesm, Non-alcoholic beer or wine, Lab-based “motherless” meat and Insects), Average Check Size – Per Person (Quick Service Restaurants, Full Service Restaurants (Midscale Dining, Casual Dining and Fine Dining) and Retail Foodservice), Channel (Delivery, Takeout, Drive Thru and Dine In), Operating Ratios (Cost of Sales, Salaries & Wages, Repair & Maintenance, Rental & Leasing, Utilities, Advertising, Depreciation, Other and Pre-Tax Profit, Companies (Starbucks Corp., Papa John's International Inc., Domino's Pizza Inc., The Wendys Co. and Performance Food Group)” provides a detailed analysis of Canada Food Service Industry.
Restaurant Type – Canada Foodservice Market has been covered from 4 viewpoints:
1. Commercial
1.1 Quick Service Restraunt
1.2 Full Service Restaurant
1.3 Caterers
1.4 Drinking Place
2. Non-Commercial
Province – Canada Foodservice Market has been covered from 10 viewpoints:
1 Newfoundland & Labrador
2 Prince Edward Island
3 Nova Scotia
4 New Brunswick
5 Atlantic Region
6 Quebec
7 Ontario
8 Manitoba
9 Saskatchewan
10 Alberta
11 British Columbia
Traffic – Canada Foodservice Market has been covered from 4 viewpoints:
1. Full Service Restaurants
- Morning Meal
- Lunch
- Supper
- PM Snack
2. Quick Service Restaurants
- Morning Meal
- Lunch
- Supper
- PM Snack
Food Items – Canada Foodservice Market has been covered from 10 viewpoints:
1. French Fries, Potato, Sweet Potato, Onion Rings
2. Breakfast
3. Burger
4. Sandwich, Subs
5. Chicken
6. Pizza, Panzerotti, Calzone
7. Salad
8. Breads
9. Cakes, Squares, Muffins
10. Vegetarian Item (Incl Eggs/Dairy)
11. Others
Beverage Items – Canada Foodservice Market has been covered from 10 viewpoints:
1. Coffee
2. Carbonated Soft Drink, Pop, Soda
3. Hot Tea
4. Fruit Juice
5. Hot Chocolate
6. Iced Tea
7. Milkshakes, Smoothies
8. Water (includes tap water)
9. Milk
10. Alcoholic Beverage
11. Other
Average Check Size – Per Person In Canada Foodservice Market has been covered from 3 viewpoints:
1. Quick Service Restaurants
2. Full Service Restaurants
- Midscale Dining
- Casual Dining
- Fine Dining
3. Retail Foodservice
Channel – Canada Foodservice Market has been covered from 4 viewpoints:
1. Quick Service Restaurants
1.1 Delivery
1.2 Takeout
1.3 Drive Thru
1.4 Dine In
2. Full Service Restaurants
2.1 Delivery
2.2 Takeout
2.3 Drive Thru
2.4 Dine In
Operating Ratios – Canada Foodservice Market has been covered from 9 viewpoints:
1. Cost of Sales
2. Salaries & Wages
3. Repair & Maintenance
4. Rental & Leasing
5. Utilities
6. Advertising
7. Depreciation
8. Other
9. Pre-Tax Profit
Company Analysis:
- Overview
- Recent Development
- Revenue
Companies Covered:
1. Starbucks Corp.
2. Papa John's International Inc.
3. Domino's Pizza Inc.
4. The Wendys Co.
5. Performance Food Group
What is the estimated value of the Canadian Foodservice Market?
What is the growth rate of the Canadian Foodservice Market?
What is the forecasted size of the Canadian Foodservice Market?
Who are the key companies in the Canadian Foodservice Market?
Report Attribute | Details |
---|---|
No. of Pages | 285 |
Published | November 2021 |
Forecast Period | 2021 - 2027 |
Estimated Market Value ( USD | $ 94.19 Billion |
Forecasted Market Value ( USD | $ 102.98 Billion |
Compound Annual Growth Rate | 1.5% |
Regions Covered | Canada |
No. of Companies Mentioned | 5 |
Table of Contents
1. Introduction2. Research & Methodology3. Executive Summary
Companies Mentioned
- Starbucks Corp.
- Papa John's International Inc.
- Domino's Pizza Inc.
- The Wendys Co.
- Performance Food Group
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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