Canada Fast Food Market to Reach USD 41.9 Billion by 2027
Canada Fast Food Market is driven by the several benefits offered by Rise in Number of Quick Service Restraunts (QSR) and growth in female employment rate
According to Renub Research report titled, “Canada Fast Food Market, Share, Insight, Forecast 2022-2027, Industry Trends, Growth, Size, Impact of COVID-19, Company Analysis” Canada Fast Food Market Size was USD 31.8 Billion in 2021. The Canadian food industry has evolved and changed to meet customer demands and consumer behavior. Remarkably, food is prepared and served at independent fast-food restaurants, street vendors, or chained fast-food restaurants such as Tim Hortons, Starbucks, McDonald's, Dairy Queen, KFC, Dominoes, Pizza Hut, Wendy's, and Burger King is referred to as fast food.
Besides, they can be used as a substitute for home-cooked meals. According to BC Food Web, fast food accounted for 6.3 percent of the average Canadian's daily food intake in 2020. As a result, fast food has established roots in both developed and developing economies over time, and it is primarily accepted due to its quick availability and taste factor.
COVID-19's Impact on the Canadian Fast Food Industry:
The COVID-19 pandemic harmed Canada's fast-food industry due to increased cases and fears of infection from food. Furthermore, revenue has been impacted by operational disruptions in the hotel and food & beverage industries and disturbances in the supply chain provoked by the COVID-19 outbreak. During the pandemic, increased awareness of the benefits of eating healthy foods influenced market growth. Regardless, due to an increase in the number of fast-food franchises and growing demand for online food deliveries, the market regained its demand following the pandemic.
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Canada Fast Food Industry Is Anticipated to Expand At A CAGR Of 4.7% From 2021-2027:
The major factors propelling the market expansion are increased consumer spending and the growing influence of food delivery applications. Furthermore, faster urbanization and globalization are attributed to the increase in restaurants and hotels, which is expected to boost the Canadian fast-food market's growth. Again, because women do not have enough time to prepare meals, they turn to fast food and use technology to order, which fuels the development of the Canadian fast-food market. Additionally, increased media and travel exposure to international cuisine will continue to drive the growth of this market.
Burgers/Sandwiches and Pizza Are the Most Favored Fast Food in Canada:
Depending on the type, the market revolves around pizza/pasta, burgers/sandwiches, chicken, Asian/Latin American food, and seafood. Due to the flavors and ingredients used in the products, burgers/sandwiches have been the most popular fast food among consumers. The vast availability of burger options, including products with protein options such as venison, beef, and several others, can be attributed to the growing demand for burgers/sandwiches.
Furthermore, several food-service operators experimented with various cheese, bacon, onion, meatloaf, and other fillings. Nonetheless, pizza/pasta is the most popular fast food in Canada, owing to increased consumer demand for taste and preferences, and pizza is the most popular takeout and delivery option. During the Canadian fast-food market forecast, it is expected to grow at a phenomenal rate.
Service That Is Quick Restaurants Are the Most Popular Medium Among Canadians:
As per our analysis, in Canada, the Fast Food Market, the end-user industries such as Quick Service Restaurants (QSRs), Street Vendors, Home Delivery, Cafés, and Bars, among others, use fast food extensively. Consumers in Canada prefer quick-service restaurants, driving up demand for fresh, tasty, and appealing food at a reasonable price. As a result, the demand for quick-service restaurants is growing. Besides, during the pandemic, the home delivery option has seen a lot of growth. Wherein, the plurality of consumers chooses to order online while staying indoors.
In our report, Starbucks Corp, Domino's Pizza Inc, The Wendys Co., Kentucky Fried Chicken (KFC), Tim Hortons, Restaurant Brands International Inc, A&W Food Services of Canada Inc, MTY Food Group Inc, Papa John's International Inc, Performance Food Group Company are all analyzed to be strong players in the Canada Fast Food Market. The market's major players have extensive global distribution networks. Furthermore, businesses are improving their menus and services in response to shifting consumer preferences. Moreover, an increase in the number of quick-service restaurants in the industry is aiding sales.
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Type: We have covered Independent Consumer, Chained Consumer in our market analysis.
Cuisines Type: In our report we have studied the market for Pizza/Pasta, Burgers/Sandwiches, Chicken, Asian/Latin American food, and seafood
End User: We have covered Quick Service Restaurant (QSR), Street Vendors, Home Delivery, Cafés, and bars and other as market for end-users in Canada Fast Food Market.
Company Analysis: The key players covered are Starbucks Corp, Domino's Pizza Inc, The Wendys Co., Kentucky Fried Chicken (KFC), Tim Hortons, Restaurant Brands International Inc, A&W Food Services of Canada Inc, MTY Food Group Inc, Papa John's International Inc, Performance Food Group Company
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