Canada - The Future of Foodservice to 2028

Canada - The Future of Foodservice to 2028 Summary “Canada - The Future of Foodservice to 2028” published by GlobalData provides extensive insight and analysis of the Canadian Foodservice market over the next five years (2023-28) and acts as a vital point of reference for operators or suppliers. Canada’s GDP per capita declined by 1.1% in 20231. This decline is attributable to the Russia-Ukraine conflict that compounded the domestic banking sector’s challenges. High inflation and increasing interest rates significantly hampered the consumer sentiment. In 2023, the working-age population (aged 15-64 years) made up 63.8% of the total population, which is expected to decline to 61.7% in 2028. Meanwhile, the proportion of older people (aged 65+ years) is expected to increase from 20.5% in 2023 to 23.1% in 2028. The report includes - - Overview of Canada's macro-economic landscape: Detailed analysis of current macro-economic factors and their impact on the Canadian foodservice market including GDP per capita, consumer price index, population growth, and annual household income distribution. - Growth dynamics: In-depth data and forecasts of key channels (QSR, FSR, coffee & tea shop, and pub, club & bar) within the Canadian foodservice market, including the value of the market, number of transactions, number of outlets and average transaction price. - Customer segmentation: Identify the most important demographic groups, buying habits, and motivations that drive out-of-home meal occasions among segments of the Canadian population. - Key players: Overview of market leaders within the four major channels including business descriptions and number of outlets. Scope - The total revenue of the Canadian profit sector was estimated at CAD113.5 billion ($84.1 billion) in 2023, posting a CAGR of 2.3% during 2018-23. The resilient financial system despite global macroeconomic headwinds, along with tourism initiatives by the government, aided foodservice sales. However, high inflation posed a challenge. - The QSR channel registered the highest CAGR during 2018-23, at 4.5%, followed by the FSR channel at 3%. During 2023-28, the profit sector will register a relatively strong CAGR of 5.6%. The number of transactions will register a CAGR of 3.1% during this period, while the number of outlets will yield a CAGR of 0.7%. Reasons to Buy - Specific forecasts of the foodservice market over the next five years (2023-28) will give readers the ability to make informed business decisions through identifying emerging/declining markets. - Consumer segmentation detailing the desires of known consumers among all major foodservice channels (QSR, FSR, coffee & tea shop, and pub, club & bar) will allow readers understand the wants and needs of their target demographics.