The full-service restaurant industry in Canada has experienced notable fluctuations over the past decade, standing at 38.16 Billion CAD in 2023. From 2013 to 2019, the industry grew steadily, with year-on-year variations ranging from 4.7% to 8.68%. However, the COVID-19 pandemic caused a sharp decline of 31.36% in 2020. The industry rebounded with strong growth in 2021 and 2022 at 18.04% and 21.54%, respectively. The 2023 year-on-year growth was a robust 11.81%. The 5-year CAGR up to 2023 was 3.02%.

Future trends to watch for include:

Continued recovery post-pandemic, driving steady growth.
Projected 5-year CAGR of 3.23%, indicating moderate yet consistent expansion.
Increasing demand for enhanced customer experiences and digital innovations in dining.