Limited-service eating places expenses in Canada experienced consistent growth from 2013 to 2019, with yearly increases ranging from 3.73% to 8.25%. However, in 2020, there was a notable decline of 10.72% due to the COVID-19 pandemic, followed by a strong recovery with a 9.54% increase in 2021. As of 2023, expenses stood at 34.63 billion Canadian dollars, marking a 6.23% year-on-year increase and demonstrating a robust recovery and growth trend. The 5-year CAGR leading up to 2023 was 2.49%, reflecting moderate average annual growth despite the pandemic dip.
Forecasts suggest continued growth, with expenses expected to reach 41.02 billion Canadian dollars by 2028, achieving a forecasted 5-year CAGR of 2.68%. Key future trends to watch include the impact of inflation on consumer spending, evolving consumer preferences toward convenience and digital ordering, and potential market shifts due to global economic conditions and health concerns.
