Canada Food Service Market Analysis 2021-2026:
The Canada Food Service Market is estimated to value around USD 85.54 billion by the end of the assessment period. The regional market is predicted to experience moderate growth of 4% throughout the forecast period (2021 - 2026).
The food service industry embraces all companies that offer meals prepared outside the home, such as restaurants, school and hospital cafes, and food outlets. Mobile food services, such as the food truck industry, are also expanding in developing countries due to the increasing penetration of fast food restaurants. While restaurant owners are optimistic about the future growth and sustainability of their businesses, challenges related to government regulations and rising labor costs are creating enormous pressure on industry players. In 2017, Canada was the main destination for exports of US agricultural products. For start-ups, Canada provides stable financial support and a sophisticated logistics network that supports the daily bilateral trade in agricultural and food products for $ 120 million. Last year, Canada's commercial and institutional food service sales were $ 65 billion, an increase of 5% from 2016. There are opportunities to increase sales of food and beverage products to the United States, but as a market Ripe, it is imperative that American food processors study the market well.
Recent Developments
In January 2020, a distributor of disposable catering and cleaning supplies, Imperial Dade, declared the acquisition of Wagner Supply Company. This strengthens Imperial Dade's presence in Texas even though enhancing the company's differentiated value proposition for customers in the area.
In March 2020, US Foods made a deal to purchase Smart Foodservice Warehouse Stores, which operates 70 small cash and transportation stores in many states.
In March 2020, NEOGEN Corporation announced the purchase of Chilean company Magiar Chilena’s assets, which is a distributor of diagnostic products for animals and plants, including NEOGEN products.
Market Drivers and Restraints:
Demographic changes, as well as an increase in the number of health-conscious millennial and baby boomers, have resulted in increased demand for food products that serve the well-being of Canadians. The market is mainly driven by the increasing frequency of restaurant meals, as well as busy hours and the increasing influence of intercultural food models, due to the strong presence of international companies. Quick service restaurants or full service restaurants feature prominently in all food services in Canada. The local food service industry is multiplying because of the strong Canadian economy, which is operating at full capacity. Millennial population across the country would expand Canada's food service business. McDonald’s and Starbucks Corporation are among the brands that are on the role of expansion with innovative menus, and improving their portfolios to establish themselves in this lucrative market. For example, according to Starbucks Corporation, the number of stores in Canada increased to 1,518 (company-owned and licensed stores) in 2018 from 1,174 in 2012. In the same way, Tim Hortons restaurants in Canada expanded from 3,802 in 2016 to 3,436 in 2012, which is among the prominent fast food chain outlets in Canada, famous for its coffee and donuts.
Market Segmentation:
The Canada Food Service Market segmentation has been categorized by Place Type into Full Service Restaurants, Quick Service Restaurants, Food Junctions Cafeterias/buffets, Bars and Managed Food Services.
By end-user, the market covers Industrial Premises, Commercial and Office Premises, Hospital & Nursing Homes, Educational Premises (Colleges, Universities, Schools), In-transit Food Service (Airlines, Trains), and Sports Centers/Malls.
Regional Analysis:
The prominent category in the Candia food service market includes flavor extracts, cocktail mixes, syrups, simple fruit juices, baking, pizza, and dough mixes. Another area in which the Canadian food service industry depends on imported products is red meat from the United States, which represents 71% of imports in the category. 87% of Canadian imports is controlled by the United States in terms of poultry meat. Although Brazilian producers can supply frozen products at lower prices than the United States, some Canadian factories are reluctant to source poultry from Brazil, as the mix of products of American and Brazilian origin could prohibit the sale of processed products. In 2017, the US suppliers delivered 95% of Canada's imports of eggs and egg products. The Canadian dairy industry also operates with a supply management system. The European Union (EU) has a clear advantage in the cheese trade, due to the provisions of the Uruguay Round negotiations (1994) of the World Trade Organization and the comprehensive and economic trade agreement that has expanded access to cheese of European origin since its entry into force September 2017.
Leading Company
Burger King Corporation had the largest share of the Food Service Market in Canada in terms of sales and revenue in 2019.
Key Players
Major players in this market include KFC, Tim Hortons Inc, Pizza Hut, McDonald's Corp., Burger King Corporation, and Starbucks Corporation.
1. Introduction
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.1.1 Drivers
4.1.2 Restaints
4.1.3 Opportunities
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis 2.55556E+64
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.2 Products/Service
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Food Service Market, By Place Type
6.1.1 Full Service Restaurants
6.1.2 Quick Service Restaurants
6.1.3 Food Junctions Cafeterias/Buffets
6.1.4 Bars
6.1.5 Managed Food Service
6.1.6 Market Size Estimations & Forecasts (2019-2024)
6.1.7 Y-o-Y Growth Rate Analysis
6.1.8 Market Attractiveness Index
6.2 Food Service Market, By End-User
6.2.1 Industrial Premises
6.2.2 Commercial and Office Premises
6.2.3 Hospital & Nursing Homes
6.2.4 Educational Premises
6.2.5 In-transit Food Service
6.2.6 Sports Centers/Malls
6.2.7 Market Size Estimations & Forecasts (2019-2024)
6.2.8 Y-o-Y Growth Rate Analysis
6.2.9 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance and Administration Market, by Region
7.2 North America - Market Analysis (2018 - 2024)
7.2.1 By Country
7.2.1.1 USA
7.2.1.2 Canada
7.2.2 By Place Type
7.2.3 By End-User
8. Key Player Analysis
8.1 KFC
8.1.1 Business Description
8.1.2 Products/Service
8.1.3 Financials
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 McDonald's
8.3 Pizza Hut
8.4 Burger King
8.5 Electrolux
8.6 Hoshizaki Electric Co
8.7 Starbucks Corp
8.8 Yum! Brands Inc
8.9 Dunkin 'Donuts
8.10 Papa John's
9. Market Outlook & Investment Opportunities
Appendix
List of Tables
List of Figures
