Caterers in Canada - Industry Market Research Report

Caterers in Canada - Industry Market Research Report

Caterers in Canada

Over the past five years, the Caterers industry in Canada has benefited from rising disposable income and a steady growth in the number of Canadian businesses. Specifically, improving economic conditions at the beginning of the period encouraged many companies to increase spending on events requiring catering, such as office parties, corporate conferences, team-building seminars and client events. Additionally, rising consumer spending and improving consumer confidence before 2020 increased spending on private events such as weddings and birthdays. In 2020, the social distancing measures restricted caterers' operations, hurting revenue and increasing costs. Simultaneously, reduced corporate profit and household income and mass cancellations of public gathering events contributed to a sharp drop in revenue. Overall, industry revenue is estimated to have fallen an annualized 1.9% to $3.8 billion over the five years to 2023. However, industry revenue is forecast to rise 0.7% in 2023 alone. A revenue rise in 2021 can be mainly attributed to the economic recovery after the COVID-19 pandemic. Furthermore, the industry had to restructure operations to accommodate the ordinances to slow the spread.

The Caterers industry in Canada provides food services for events such as graduation parties, wedding receptions and trade shows. Industry establishments generally have equipment and vehicles to transport meals and snacks to events and to prepare food at the event site. Caterers who own or manage permanent facilities in which they provide event-based food services are also included.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares."