Specialty Food Stores in Canada
Industry revenue is expected to grow over the five years to 2017. Along with industry sales, profit margins have risen, withstanding price-based competition from external industries. Bolstered by disposable income growth and an increasingly health-conscious consumer base, operators can charge a premium for industry products. While improvements in the economy and favourable shifts in consumer preferences have helped boost industry revenue over the past five years, rising competition from other industries has gradually constrained the performance of specialty food stores. Over the five years to 2022, the industry is expected to face greater competition from natural food stores and regular supermarkets. Nonetheless, the industry will benefit from rising disposable income and consumer spending. Additionally, growth in the organic foods market and the immigrant population will boost demand for organic and ethnic products.
Operators in this industry retail specialized food products, including baked goods, confectionery, nuts, dairy products, coffee, tea and soft drinks. This industry only retails packaged products and excludes establishments that sell products for immediate consumption (e.g. coffee shops). Butcher shops, seafood markets and produce markets are also excluded from this industry, along with producers of chocolate, bread and bakery goods.
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.
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