Baking Mix & Prepared Food Manufacturing in Canada - Market Research Report

Mixed Up: An Improving Economy Will Likely Result in Increased Consumer Spending on Food Products

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.

The Baking Mix and Prepared Food Manufacturing industry in Canada is expected to grow over the five years to 2023. An improving economy and rising per capita disposable income levels has resulted in increased domestic demand for a wider variety of higher-quality, more nutritious and more diverse food products. To satisfy increased demand, downstream food service providers and retailers have increased purchases of industry products. In addition, a rising consumer price index for food has also led to continued growth in product prices, helping drive revenue upward. Overall, industry revenue has grown at a CAGR of 5.8% to $7.1 billion over the five years to 2023, including an estimated 3.2% increase in 2023 alone. The Baking Mix and Prepared Food Manufacturing industry manufactures perishable prepared foods such as sandwiches, prepared meals and peeled or cut vegetables. Companies in the industry also use dried and dehydrated ingredients to manufacture dessert mixes, flavouring powders and processed eggs.