Canada Fast Food Market Insights Forecasts to 2033

• The Canada Fast Food Market Size was valued at USD 27.6 Billion in 2023.
• The Market is growing at a CAGR of 4.63% from 2023 to 2033
• The Canada Fast Food Market Size is Expected to reach USD 43.4 Billion by 2033

The Canada Fast Food Market Size is anticipated to exceed USD 43.4 Billion by 2033, Growing at a CAGR of 4.63% from 2023 to 2033. The increasing preference for on-the-go snacks, convenient food, & prepared-to-consume alternatives, the busy lifestyles of millennials, and the rising number of working individuals are driving the growth of the fast food market in Canada.      

Market Overview

Fast food is easily prepared food designed for quick and efficient preparation and distribution. They are served in snack bars or restaurants as a quick meal. It acts as an alternative to home-cooked food, facilitating easy preparation and preservation of food. With the correct amounts and mixes of other foods, the majority of fast food options available today are healthy and aid in weight loss. Over the past ten years, as new product kinds have entered the food business, there has been a rise in the demand for fast food. The emergence of the food delivery trend with the incorporation of AI & automation, adoption of eco-friendly practices, subscription-based delivery services, virtual kitchen expansion, and personalization & customization of orders are anticipated to enhance the market expansion.

Report Coverage

This research report categorizes the market for the Canada fast food market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Canada fast food market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Canada fast food market.

Driving Factors

According to recent Mintel research, almost half (46%) of better-for-you (BFY) snackers believe that eating three major meals a day is not as healthy as snacking throughout the day. Thus, the increasing preference for on-the-go snacks is driving the market for fast food. Further, the increasing preference for convenient meal preparation solutions by Canadian consumers with a focus on natural ingredients and health is driving the market. Millennials found to be most commonly report eating fast food more often. The increasing millennial population in the country is responsible for propelling the market demand. Further, the rising number of working individuals is also responsible for driving the market demand for fast food.

Restraining Factors

Premature mortality, obesity risk, other diet-related illnesses, and lower diet quality have all been linked to fast food consumption. Thus, the increased awareness about the health threats of fast food is challenging the Canada fast food market.

Market Segmentation

The Canada Fast Food Market share is classified into type and service type.

• The burger/sandwich segment dominated the market with the largest market share during the forecast period.

The Canada fast food market is segmented by type into pizza/pasta, burger/sandwich, chicken, Asian/Latin American food, seafood, and others. Among these, the burger/sandwich segment dominated the market with the largest market share during the forecast period. The average menu prices in the burger category have increased by 0.13%, according to an analysis of the annual price change between 2023 and H1 2024. The comfort, adaptability, and modification options of burger/sandwich as per the changing consumer preferences are driving the market.

• The quick service restaurant segment dominated the Canada fast food market with the largest market share in 2023.       

Based on the service type, the Canada fast food market is divided into quick service restaurant, street venders, home delivery, cafes & bars, and others. Among these, the quick service restaurant segment dominated the Canada fast food market with the largest market share in 2023. A staple of the Canadian eating experience, QSRs are renowned for their speed in delivering tasty and convenient cuisine. The increasing number of international fast-food restaurants and the integration of digitalization and AI are contributing to driving the market in the quick service restaurant segment.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Canada fast food market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Starbucks Corp
• Domino's Pizza Inc
• The Wendys Co
• Restaurant Brands International Inc.
• Kentucky Fried Chicken (KFC)
• A&W Food Services of Canada Inc
• MTY Food Group Inc
• McDonald's
• Performance Food Group Company
• Papa John's International Inc
• Berkshire Hathaway
• Yum! Brands, Inc
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In June 2024, Odd Burger Corporation announced that it has increased the distribution of its consumer packaged goods (CPG) line through a retail listing at Whole Foods Market stores in Ontario, Canada.

• In April 2024, Shake Shack opened its first Canadian location in Toronto. The fast-food company’s first Canadian location will take over the northeast corner of Yonge-Dundas Square in Toronto with a 5,500 square-foot space once home to an Adidas.

Market Segment

This study forecasts revenue at Canada, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Canada Fast Food Market based on the below-mentioned segments:

Canada Fast Food Market, By Type

• Pizza/Pasta
• Burger/Sandwich
• Chicken
• Asian/Latin American Food
• Seafood
• Others

Canada Fast Food Market, By Service Type

• Quick Service Restaurant
• Street Venders
• Home Delivery
• Cafes & Bars
• Others