Canada Foodservice Market Set to Reach US$ 115.57 Billion by 2030 Amid Evolving Consumer Preferences and Technological Advancements

DUBLIN, March 21, 2024 /PRNewswire/ — 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.

A comprehensive analysis of the Canada Foodservice Market now offers insights into the industry’s projected growth from 2024 through 2030. The market is expected to reach a value of US$ 115.57 billion by the end of the forecast period, growing at a CAGR of 5.42%. This document delves into key trends, market shares, and the impact of inflation on the industry’s evolution, providing a thorough understanding of the current dynamics and future outlook.

Insight into Full-Service Restaurants and Emerging Non-Commercial Sectors

The research emphasizes the significant role of full-service restaurants, which continue to dominate the commercial restaurant segment within the Canadian foodservice market. Full-service restaurants are renowned for their comprehensive dining experiences, which often include personalized service and a variety of menu options, appealing to a wide customer base. Moreover, the report sheds light on the burgeoning non-commercial sector, particularly retail food service establishments, which are thriving due to their adaptability and focus on consumer trends.

Ontario Poised as Provincial Leader in Food Service Sales

Regional Market Distribution

The province of Ontario stands out as the leading source of market revenue within the Canada Foodservice Industry. With a densely populated and culturally diverse landscape, Ontario’s vibrant food service sector is driven by major cities like Toronto, offering an array of culinary options to residents and tourists alike.

Demographic Shifts and Health Consciousness Shaping the Market

The research also notes a demographic shift with Canadian customers under the age of 40 increasingly opting for online dining experiences. Budget awareness and health considerations, including a demand for organic and plant-based options, are shaping consumer habits. These trends are in line with the adoption of digital technologies in the foodservice sector, which has become crucial for market growth.

Competitive Landscape

Key Players in the Market

  • Starbucks Corp
  • Domino’s Pizza Inc.
  • The Wendy’s Co.
  • Seven & I Holdings Co. Ltd
  • Restaurant Brands International Inc.

The Canada Foodservice Market report offers a segmented analysis of the industry:

  • Commercial Restaurant (including Quick-Service Restaurants (QSRs), Full-Service Restaurants, Caterers, Drinking Places)
  • Non-Commercial Restaurant (Accommodation foodservice, Institutional foodservice, Retail Foodservice, Other Foodservice)

This research publication is a must-read for stakeholders, investors, and industry leaders looking to understand the foodservice landscape in Canada, providing a roadmap for anticipating consumer demands and harnessing growth opportunities.

Market Resilience and Innovation Post-COVID

Amidst the disruptions caused by the COVID-19 pandemic, the Canada Foodservice Market has demonstrated resilience and adaptability. The industry has swiftly transitioned to incorporate takeout and delivery services, in tune with regulatory guidelines and changing consumer behaviors. This flexibility showcases the sector’s capacity to navigate market challenges and leverage technology for sustained success.

Companies Mentioned

  • 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.

For more information about this report visit https://www.researchandmarkets.com/r/kg24cc

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SOURCE Research and Markets

Originally published at https://www.prnewswire.com/news-releases/canada-foodservice-market-set-to-reach-us-115-57-billion-by-2030-amid-evolving-consumer-preferences-and-technological-advancements-302095003.html
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