DUBLIN--(BUSINESS WIRE)--The "Canada Fast Food Market, Share, Insight, Forecast 2022-2027, Industry Trends, Growth, Size, Impact of COVID-19, Company Analysis" report has been added to ResearchAndMarkets.com's offering.
Canada Fast Food Market is expected to reach US$ 41.9 Billion by 2027.
Over the decades, the Canadian food industry has changed and developed to satisfy customer needs and consumer behavior. Therefore, fast food has seen its roots in developed and developing economies with the evolution of time, which is primarily accepted based on its quick availability and taste factor.
Fast food is characterized as the food prepared and served at independent fast-food restaurants, street vendors, or chained fast food restaurants like Tim Hortons, Subway, Starbucks, McDonald's, Dairy Queen, KFC, Dominoes, Pizza Hut, Wendy's, and Burger King. It serves as an alternative to homemade food. As per BC Food Web, in 2020, the average Canadian gets 6.3% of his daily food intake from fast food.
Impact of COVID-19 on Canadian Fast Food Industry
The COVID-19 pandemic adversely affected Canada's fast food industry due to the rising cases and fear of contracting the infection from food. Furthermore, the operational disruptions in the hotel and food & beverages industry, and disruption in the supply chain due to the COVID-19 outbreak, have impacted the fast-food sector in terms of revenue.
An expanded awareness level about the consumption of healthful foods impacted the market growth during the pandemic. Regardless, the market will regain its demand post-pandemic owing to a rise in the number of fast-food franchises and growing demand for online food deliveries.
Canada Fast Food Market Size was US$ 31.8 Billion in 2021
A rise in health consciousness among consumers and increased demand for healthy and tasty food drive the plant based food market growth.
The growth in female employment rate because women do not have enough time to prepare meals; growth in several fast-food restaurants which results in easy access to the fast food and tech-savvy ordering; fuel the growth of the Canada fast-food market. In addition, a rise in exposure to international cuisine through media and traveling will continue to escalate the development of this market.
Burgers/Sandwiches, and Pizza are the most preferred Fast Food in Canada
Based on the type, the market revolves around pizza/pasta, burgers/sandwiches, chicken, Asian/Latin American food, and seafood. Amongst which burgers/sandwiches, has been the most preferred fast food among consumers, due to its flavors and ingredients added in the products.
The growing demand for burgers/sandwiches can be attributed to the vast availability of burger options, including products with protein options like venison, beef, and several others. Moreover, several food-service operators are experimenting with different fillings of cheese, bacon, onions, meatloaf, etc.
Nevertheless, the pizza/pasta, attributed to raised consumer demand for taste and preferences, and pizza most preferred fast food in Canada, especially when it comes to takeout and delivery. It is anticipated to grow at a tremendous rate during the forecast of the Canadian fast-food market.
Quick Service Restaurants are the most Preferred Medium by Canadian Consumers
Fast food is extensively used in end-user industries like Quick Service Restaurant (QSR), Street Vendors, Home Delivery, Cafes, and bars, etc. Quick service restaurants are the most favored by Canadian consumers, increasing demand for fresh, tasty, and appealing food at affordable cost. Thus, the need for quick-service restaurants is increasing.
Home delivery option has registered a lot of growth in the pandemic period. As most of customers prefer to remain indoor and order online. As per the analysis, the Canada Fast Food Industry is expected to expand at a CAGR of 4.7% from 2021-2027.
Competitive Landscape
Yum! Brands, one of the largest quick-service providers in Canada, with popular brands, such as KFC, and Pizza Hut, is embarking on substantial expansion plans across the country to effectively penetrate its presence in targeted cities, such as Calgary, Montreal, Toronto, Vancouver, Halifax, Ottawa, and Edmonton.
Retaining healthy and natural ingredients and maintaining the taste also boosts the quick-service restaurant's market growth in Canada.
Key Topics Covered:
1. Introduction
2. Research & Methodology
3. Executive Summary
4. Market Dynamics
4.1 Growth Drivers
4.2 Challenges
4.3 Opportunities
5. Canada Fast Food Market
6. Market Share - Canada Fast Food Analysis
6.1 By Type
6.2 By Cuisines
6.3 By End User
6.4 By Channel
7. Type - Canada Fast Food Market
7.1 Independent Consumer
7.2 Chained Consumer
8. Cuisines - Canada Fast Food Market
8.1 Pizza/Pasta
8.2 Burger/Sandwiches
8.3 Chicken
8.4 Asian/Latin American
8.5 Seafood
8.6 Others
9. End User - Canada Fast Food Market
9.1 Quick Service Restaurant (QSR)
9.2 Street Venders
9.3 Home Delivery
9.4 Cafes and bars
9.5 Other
10. Porters Five Forces
10.1 Overview
10.2 Bargaining Power of Buyers
10.3 Bargaining Power of Suppliers
10.4 Degree of Competition
10.5 Threat of New Entrants
10.6 Threat of Substitutes
11. Key Players
11.1 Overview
11.2 Recent Development
11.3 Revenue
- 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
For more information about this report visit https://www.researchandmarkets.com/r/v87prq
