Dublin, March 20, 2024 (GLOBE NEWSWIRE) -- The "Canada Foodservice Market, Size, Forecast 2024-2030, Industry Trends, Share, Growth, Insight, Impact of Inflation, Company Analysis" report has been added to ResearchAndMarkets.com's offering.
Canada Foodservice Market will reach US$ 115.57 Billion by 2030 from US$ 79.86 Billion in 2023, growing at a CAGR of 5.42%
The cloud kitchen market is experiencing noteworthy growth, driven by a surge in on-line food shipping, growing interest in global cuisine, and the introduction of advanced ordering systems. In the post covid, almost half of Canadians are ordering food online each week, with AI technology optimizing kitchen operations and providing personalized recommendations to customers.
Canadian customers under 40 age are increasingly choosing to dine out or order meals on line. However, they may be greater budget-aware than older people and are targeted on reducing cost and cutting back on alcohol intake. Health is likewise a top precedence for lot of Canadians when it comes to foods and drinks intake. They are paying close attention to the quantity of components and avoiding unnatural or synthetic components, instead leaning toward organic options. Sustainability is key factor, with younger consumers who have better disposable incomes selecting to spend extra cash on organically produced and packaged products than the common consumer.
More and more consumers are in search of plant-based protein alternatives as they prioritize healthy consuming habits. Burgers and sandwiches have become the preferred alternatives for instant meals because of the several factor and flavors integrated into them. The vast array of burger alternatives, inclusive of venison and red meat, beef & pork, may be attributed to the growing demand for those items. Pizza and pasta are the best meals in Canada because of their taste as well as variety. The choice of pizza is very popular both for takeout and dining in restaurants.
The concept of the 'field to fork' is being adopted by restaurants in food service market as they also trace their sources for foods and use measures that protect sustainability. In line with the growing popularity of food delivery services and online ordering, people in Canada are modifying their habits regarding how they access their favorite foods. The integration of digital technology in the food service sector is important for market growth. Despite the pandemic, food service market has adapted to new norms from Canadian government that placed emphasis on takeout and delivery services in a bid to stream with change of consumer behavior.
The sustainability and health aspect are gaining traction in the Canadian food service market. More and more, consumers want food that matches their values; for this reason, restaurants are providing natural products, locally sourced food and vegetarian alternatives. Canada continually experiences population growth, which has increased Canadians' desire to enjoy international cuisine from diverse restaurants that offer traditional Canadian dishes as well as global flavors. The food service industry is also experiencing change due to government regulations such as requirements for safe foods, nutritional guidelines.
Full-service restaurants will continue to be the principle participant in the Canada Food Service Market
By Commercial restaurants, the Canada food service market is segmented into quick-service restaurants (QSRs), full-service restaurants, caterers, and drinking places. Full Service Restaurants are poised to remain as the primary players in the Canada Food Service Market. Despite evolving consumer preference and the upward thrust of fast casual and delivery options, Full-Service Restaurants keep offering a comprehensive eating experience. Known for personalized service, ambiance, and numerous menus, they cater to a broad spectrum of customers. The enduring attraction of a leisurely dining experience and the industry's adaptability to changing trend position Full-Service Restaurants work as a cornerstone inside the Canadian food service landscape, ensuring their persevered prominence within the market.
The retail food service non-commercial restaurant market is increasing in Canada
By Non-Commercial Restaurants, Canada Foodservice Market is divided into Accommodation, Institutional Foodservice, Retail Foodservice, and Other. The retail food service non-commercial restaurant marketplace is experiencing rapid growth in Canada. This surge may be attributed to changing consumer choices, expanding demand for various culinary offerings, and the evolution of non-conventional food service formats.
The non-commercial sector, including of establishments inside retail settings, education, and healthcare facilities, is witnessing heightened popularity. The retail food service non-commercial restaurant market is thriving with a focus on comfort and supplying quality meals in non-traditional dining environments. The adaptability of those establishments to meet the dynamic needs of consumer contributes extensively to their increased growth in the Canadian food service landscape.
Ontario province will have most of the market sales within the Canadian food service industry
By Province, Canada service market is split into Newfoundland and Labrador, Prince Edward Island, Nova Scotia, New Brunswick, Quebec, Ontario, Manitoba, Saskatchewan, Alberta, British Columbia, Yukon, Northwest Territories, and Nunavut. Ontario province is set to dominate the market sales in the Canada Foodservice Industry.
Boasting a diverse culinary panorama and a sizeable population, Ontario serves as a key hub for food provider establishments. The province's economic vitality and cultural richness contribute to a thriving food service sector. Major metropolitan areas, such as Toronto, are culinary hotspots, hosting many restaurants, cafes, and diverse culinary experiences. With a strong demand for food provider services, Ontario is expected to secure the lion's marketplace revenue percentage, reflecting its pivotal position in shaping the Canadian food service enterprise.
Company Analysis: Overview, Recent Developments, Revenue
- Starbucks Corp
- Domino's Pizza Inc.
- The Wendys Co.
- Seven & I Holdings Co. Ltd
- Restaurant Brands International Inc
- A&W Food Services of Canada Inc.
- MTY Food Group Inc.
- Performance Food Group Company
- Papa John's International Inc.
- McDonald's
- Berkshire Hathaway
- Yum! Brands Inc.
Restaurant Type - Canada Foodservice Market has been covered from 4 viewpoints:
Commercial
- Quick-Service Restaurants (QSRs)
- Full-Service Restaurants
- Caterers
- Drinking Places
Non-Commercial
- Accommodation foodservice
- Institutional foodservice
- Retail Foodservice
- Other Foodservice
Province - Canada Foodservice Market has been covered from 13 viewpoints:
- Newfoundland and Labrador
- Prince Edward Island
- Nova Scotia
- New Brunswick
- Quebec
- Ontario
- Manitoba
- Saskatchewan
- Alberta
- British Columbia
- Yukon
- Northwest Territories
- Nunavut
For more information about this report visit https://www.researchandmarkets.com/r/3hgaso
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