The food services and beverage services output in Canada has shown significant growth from 2013 to 2019, with a decline in 2020 due to the COVID-19 pandemic. The output rebounded rapidly in 2021 and continued to grow through 2023, reaching 91.2 billion Canadian dollars. Year-on-year variations indicate a sharp decline in 2020 (-31.98%) followed by strong recovery in 2021 (28.12%) and steady growth in 2022 and 2023 (15.12% and 10%, respectively). The forecasted growth from 2024 to 2028 indicates a slower but positive trend with a 5-year CAGR of 1.65% and an overall growth rate of 8.53%.
Future trends to watch for include:
- Continued recovery and stabilization post-pandemic.
- Increased integration of digital ordering and delivery platforms.
- Focus on sustainability and local sourcing of ingredients.
- Changes in consumer preferences towards healthier and diverse food options.
