The value added of food and beverage service activities in Canada increased significantly from 2013 to 2023, achieving a high of 40.23 billion CAD in 2023. The year-on-year growth displayed variability, peaking at 7.03% in 2013, and slowing to 2.44% in 2023. Over the past two years, a moderate annual growth around 2.5% was observed. The last 5-year CAGR indicates an average yearly growth rate of 2.89%.

From 2024 onward, the forecasted value continues to increase, reaching 44.74 billion CAD by 2028. However, the forecasted 5-year CAGR of 1.68% suggests a deceleration in growth, with an overall growth rate of 8.67% over the forecast period.

Future trends to watch for include:

Technological advancements influencing service efficiency and customer engagement.
Consumer preferences shifting towards healthier and sustainable food options.
Impacts of economic conditions and policy changes on disposable income and dining-out behavior.
Potential disruptions or accelerations driven by global events or domestic developments.