From 2013 to 2019, food services employment in Canada experienced a steady increase, achieving an average Compound Annual Growth Rate (CAGR) of around 1.9%. The employment numbers were particularly impacted in 2020, showing a significant decline of 32.9% compared to the previous year. This can be attributed to the COVID-19 pandemic's impact on the industry. Recovery began in 2021 and continued robustly into 2022, with notable year-on-year growth rates of 8.16% and 30.62%, respectively. By 2023, the employment reached 236.88 thousand jobs, marking a positive trend with an 8.59% year-on-year increase.
Future forecasts suggest continued growth in food services employment, albeit at a more moderate pace. The projected 5-year CAGR from 2024 to 2028 is 1.06%, indicating a stable yet slow recovery. By 2028, the employment number is expected to be approximately 253.26 thousand jobs, a cumulative growth of 5.42% over the five years.
Trends to watch for in the future:
- Technological advancements and automation within the food service industry.
- Changing consumer preferences towards dining experiences and food delivery services.
- The impact of economic fluctuations and potential future pandemics on employment numbers.
