Market Size of canada foodservice Industry
| Icons | Lable | Value |
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Study Period | 2017 - 2029 |
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Market Size (2024) | USD 114.29 Billion |
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Market Size (2029) | USD 261.09 Billion |
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Largest Share by Foodservice Type | Quick Service Restaurants |
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CAGR (2024 - 2029) | 17.96 % |
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Fastest Growing by Foodservice Type | Quick Service Restaurants |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
Canada Foodservice Market Analysis
The Canada Foodservice Market size is estimated at 114.29 billion USD in 2024, and is expected to reach 261.09 billion USD by 2029, growing at a CAGR of 17.96% during the forecast period (2024-2029).
114.29 Billion
Market Size in 2024 (USD)
261.09 Billion
Market Size in 2029 (USD)
9.51 %
CAGR (2017-2023)
17.96 %
CAGR (2024-2029)
Largest Segment by Foodservice Type
46.82 %
value share, Quick Service Restaurants, 2023
Increasing online food deliveries, the rising preference for breakfast on the go, and the opening of new establishments are the factors driving the segment's expansion.
Largest Segment by Outlet Type
64.80 %
value share, Independent Outlets, 2023
With government plans and funds being introduced to encourage independent outlets in the country, Canada has been experiencing a wave of entrepreneurship in foodservice.
Fastest-growing segment by Foodservice Type
18.37 %
Projected CAGR, Quick Service Restaurants, 2024-2029
The bakery and ice cream segments are anticipated to boost the market's growth in the future, and they together represented over 12% of the total market value in 2022.
Fastest-growing segment by Outlet Type
18.08 %
Projected CAGR, Chained Outlets, 2024-2029
Franchising of key restaurant brands has tremendous potential in major Canadian cities, and corporations are capitalizing on it due to the ever-rising demand for fast food.
Leading Market Player
3.40 %
market share, RECIPE Unlimited Corporation, 2022
It has over 1,300 restaurants in more than 300 communities across Canada, including 61 international locations with 24 food brands, mostly operated by franchisees.
Increase in number of QSRs and street food vendors owing to the rise in popularity of on-the-go meals
- Quick-service restaurants comprised the largest segment in Canada in 2022. The market registered a CAGR of 7.21% during the study period. The market expansion can be attributed to the continuous increase in the preference for fast food and eating-out habits after the pandemic. In 2021, 16% of Canadians ate out every day, and up to 40% ate breakfast on the go. There has also been an increase in the number of street vendors and unorganized QSR outlets in the country. The street vendors market in Canada was worth USD 254 million in 2022, representing less than 1% of the total QSR market.
- The quick-service restaurant market is anticipated to be the fastest-growing segment in the coming years, registering a CAGR of 18.37% by value during the forecast period. This development will be supported by a wave of entrepreneurship and new SMEs expected to launch soon. In 2022, 3.7% of Canadians were interested in opening their own QSR outlets. Around 28.3% of Canadians have worked in the food industry at some point. The food truck segment benefitted the most from this trend as it continued to be fragmented over the years. In 2022, no food truck companies in Canada had more than 5% market share.
- The cloud kitchen market in Canada is expected to register a CAGR of 17.42% by value during the forecast period, owing to rising online food deliveries through smartphone applications, which is an integral stakeholder in the market for cloud kitchens. Online food delivery grew at a Y-o-Y rate of 7.7% by value in 2022. However, the high commission fees charged by delivery platforms constitute a significant restraint to the market's growth. These platforms are known to charge up to 30% of the order value in Canada.
Understand The Key Trends Shaping This Market
