The forecast for household expenditure on restaurant meals in Canada shows a gradual increase from 2024 to 2028. In 2023, actual expenditure stood lower, indicating a steady rise over the forecasted years. The year-on-year growth from 2024 onwards shows a consistent increase of approximately 1.52% annually, leading to a compounded annual growth rate (CAGR) of 1.37% over the five-year period.
Future trends to watch for include potential impacts from economic conditions, such as inflation, and shifts in consumer preferences, which may influence dining-out habits. Additionally, technological advancements and increased focus on health and sustainability could shape the restaurant industry dynamics.
