Hyderabad, Andhra Pradesh -- (SBWIRE) -- 05/06/2012 -- “Canadian Foodservice: The Future of Foodservice in Canada to 2016” provides a top-level overview and detailed market, channel and company-specific insight into the operating environment for foodservice companies.
Introduction and Landscape
Why was the report written?
This report is the result of Canadean’s extensive market and company research covering the Canadian foodservice industry. It provides detailed analysis of both historic and forecast foodservice industry values at channel level, analysis of the leading companies in the industry and Canada’s business environment and landscape.
What is the current market landscape and what is changing?
The foodservice industry in Canada declined considerably in 2009, but recovered at a fast pace in 2010 and 2011. The foodservice sector will have to deal with the emergence of a number of new trends, including rising health concern, growth of convenience food, growth of assorted and fusion cuisines, and value offers in order to generate customer traffic.
What are the key drivers behind recent market changes?
Canada’s foodservice sector has been driven by the changing spending pattern of consumer and a shift in consumer preferences towards healthy and convenience eating. During the economic downturn period, consumers’ spending patterns have changed, which has affected the dining out behavior of consumers.
What makes this report unique and essential to read?
“Canadian Foodservice: The Future of Foodservice in Canada to 2016” provides a top-level overview and detailed market, channel and company-specific insights into the operating environment for foodservice companies. It is an essential tool for companies active across the Canadian foodservice value chain, and for new companies considering entering the market.
Key Features and Benefits
This report provides readers with unparalleled levels of detail and insight into the development of the foodservice sector within Canada.
This report provides readers with in depth data on the valuation and development of both the Profit and Cost sectors in the Canadian foodservice market.
This report provides details on the number of outlets, transactions, average price, foodservice sales, and sales per outlet and transactions per outlet perweek across nearly 50 sub-channels.
This report provides highly granular future forecasts and historic market data to aid market and strategic planning.
This report will help you to assess the impact of economic recession and recovery on foodservice market growth.
Key Market Issues
In spite of sluggish economic growth and a low rise in disposable income, the foodservice industry in Canada recorded positive growth in 2011. Furthermore, the Canadian foodservice industry is expected to record a positive CAGR during the forecast period, primarily due to rising disposable income leading to increased consumer expenditure in the Canada.
Inflation in Canada increased to 1.96% in 2011, and expected to stand at 2.0% in 2016. The unemployment rate was 7.54% in 2011 compared to 7.88% in 2010 and total employments in 2011 increased to 16,964, 0.2% over the previous year. Furthermore, the decline in inflation and unemployment is expected to have a positive impact on consumer confidence and out of home food expenditure in the country.
Demographic changes in the country are expected to increase the demand for nutritious and healthy food in the country. Canada has been experiencing an increase in the population aged above 65 years in the review period, and the trend is expected to continue in the forecast period.
The increase in single person households has been one of the main drivers to increase the total number of households in the country. Also, the participation of women in the labor force has also been constantly increasing. Both of these trends tend to increase the consumption of out of home cooked food in the country.
The obese population, as a percentage of the total population increased from 23.9% in 2006 to 25.3% in 2011. Increased obesity, diabetes, and healthcare expenditures have made people evaluate their eating habits. As a result, the trend towards adopting healthier lifestyle is accelerating in Canada.
Key Highlights
The ethnic population growth within Canada has influenced food consumption and demand in recent years, which is driving the growth of ethnic and fusion cuisine in Canada.
In Canada, food prepared with ingredients from local crops such as okra, yard-long beans, fuzzy melon and callaloo is a growing trend as is food containing locally grown tomatoes or strawberries, or more upscale like locally grown veal and wine. The health concern pushed the demand for healthy food. Canadian consumers are requesting organic food more frequently as they dine out.
Many foodservice operators are focusing on adding value offerings in their menus such as free coupons, discounts and others benefits to attract customers.
Canada’s foodservice sector is expected to experience more growth in the next two years, as channels such as restaurant, retail, healthcare, and travel will witness increased patronization because of the strengthening of consumer confidence due to reducing unemployment and rising income levels of consumers.
Restaurants and other foodservice operators, especially fast foodservice providers such as McDonald’s, have extended their presence to social networking websites like Facebook to engage more consumers."
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