Full-Service Restaurants in Canada - Market Research Report (2014-2029)
New York, United States
Last Updated: August 2024
NAICS 72211CARevenue
$46.4bn
Past 5-Year Growth
Profit
$X.Xbn
Employees
609k
Businesses
78,800
Wages
$XX.Xbn
Full-Service Restaurants in Canada industry analysis
The full-service restaurants industry in Canada pre-pandemic was on an upward trajectory, largely dictated by growing per capita disposable income and rising levels of consumer spending. However, the unwelcome disruption of the COVID-19 pandemic dealt the industry a significant blow, erasing years of sustained growth with a rapid drop in revenue. As a result, countless restaurants faced unprecedented closures while others struggled to stay afloat amidst poor profitability due to dwindling sales and escalating costs.
Trends and Insights
- The full-service restaurants industry in Canada has endured a rollercoaster-like pattern of growth, decline, and recovery over the past five years, majorly impacted by COVID-19. Notably, 2020 saw a harsh drop in sector revenue due to strict social distancing guidelines and lockdown restrictions, sharply decreasing consumer demand for in-person dining experiences.
- Traditional classifications are not sufficient to capture the modern restaurant landscape. The widespread popularity of fusion cuisine implies that categorizing restaurants is no longer as simple as assigning them to a national cuisine.
- The location of Canadian restaurants correlates with the country's population distribution. This suggests that there will be more restaurants in densely populated regions as businesses maximize the potential customer base.
- Thanks to unique recipes, the restaurant business isn't a battle royale. Despite a crowded field due to the low barriers to entry, direct competition isn't as intense because each restaurant boasts its own secret recipe.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has grown at a CAGR of 1.4 % over the past five years, to reach an estimated $46.4bn in 2024.
Trends and Insights
Rising costs and market competition squeeze profits for full service restaurants
- The full service restaurant industry has experienced significant profit pressure due to rising costs and intense competition. These factors have dissuaded many establishments from raising prices, despite the need to offset higher operating expenses.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Restaurants will monitor input prices to maintain sustainable profit
- The full-service restaurant industry closely scrutinizes input prices to ensure long-term profitability. The potent combination of fluctuating food costs, a key concern among businesses, alongside the necessity of offering competitive wages to retain key staff amidst an unstable labor market, is significantly influencing the industry's direction.
Biggest companies in the Full-Service Restaurants in Canada
| Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
|---|---|---|---|---|
Recipe Unlimited Corporation | 1,620.2 | N/A | N/A | |
The Keg Steakhouse and Bar | 919.5 | N/A | N/A | |
Boston Pizza International Inc. | 131.4 | N/A | N/A |
To view the market share and analysis for all 3 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Asian restaurants, Mexican and Latin American restaurants and Canadian and American-style restaurants. Asian restaurants is the largest segment of the Full-Service Restaurants in Canada.
Trends and Insights
Rising immigrant numbers boost Asian food demand
- The Asian food segment, the industry's largest, encompasses a host of diverse regional cuisines. These range from East Asia's Chinese, Japanese, and Korean varieties through Southeast Asia's Vietnamese, Thai, and Malaysian dishes to South Asia's Indian, Pakistani, Sri Lankan, and Bangladeshi menus. The segment also includes Middle Eastern and Central Asian cuisines.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Hotels & Motels in Canada
- Gambling in Canada
- Street Vendors in Canada
- Coffee & Snack Shops in Canada
- Fast Food Restaurants in Canada
Complementors
- Caterers in Canada
- Bars & Nightclubs in Canada
International industries
- Chain Restaurants in the US
- Single Location Full-Service Restaurants in the US
- Italian Restaurants in the US
- Mexican Restaurants in the US
- Sushi Restaurants in the US
Table of Contents
About this industry
Industry definition
The Full-Service Restaurants industry in Canada includes restaurants that provide food services to patrons who order and are served while seated (i.e. waiter or waitress service) and pay after eating. These establishments may provide this type of food service to patrons in combination with selling alcoholic and other beverages.
What's included in this industry?
Serving food and beverages to customersOwning and operating full-service restaurantsManaging chain or franchised restaurantsCompanies
Recipe Unlimited CorporationThe Keg Steakhouse and BarBoston Pizza International Inc.Purchase this report to view all 3 major companies in this industry.
Related Terms
QUICK-SERVICE RESTAURANT (QSR)SAME-STORE SALESPOINT-OF-SALE (POS)Industry Code
NAICS 722110 - Full-Service Restaurants in Canada
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
The full-service restaurants industry in Canada has endured a rollercoaster-like pattern of growth, decline, and recovery over the past five years, majorly impacted by COVID-1...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Traditional classifications are not sufficient to capture the modern restaurant landscape. The widespread popularity of fusion cuisine implies that categorizing restaurants i...
In this chapter
- Products & Services
- Major Markets
Key metrics
- Largest market segment and value in 2024
- Product innovation level
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
The location of Canadian restaurants correlates with the country's population distribution. This suggests that there will be more restaurants in densely populated regions as ...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each province
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each province in 2024
- Number and share of revenue each province accounts for in 2024
- Number and share of wages each province accounts for in 2024
- Number and share of employees in each province in 2024
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Thanks to unique recipes, the restaurant business isn't a battle royale. Despite a crowded field due to the low barriers to entry, direct competition isn't as intense because...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
It's easy for new restaurants to break into the market, thanks to low barriers to entry. This makes the market more competitive, giving diners a wider variety of dining optio...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of Recipe Unlimited Corporation's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of The Keg Steakhouse and Bar's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Boston Pizza International Inc.'s performance by revenue, market share and profit margin from 2018 through 2024
Detailed analysis
- Description and key data for Recipe Unlimited Corporation, and factors influencing its performance in the industry
- Description and key data for The Keg Steakhouse and Bar, and factors influencing its performance in the industry
- Description and key data for Boston Pizza International Inc., and factors influencing its performance in the industry
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Regulations ensure safety and standards in various aspects. For example, they lay the groundwork for everything from food hygiene to working conditions, ensuring all operatio...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
The service industry, including restaurants, often experiences high wage costs. Restaurants depend heavily on staff for operations, so they're susceptible to wage fluctuation...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Liquidity Ratios (2017-2022)
- Coverage Ratios (2017-2022)
- Leverage Ratios (2017-2022)
- Operating Ratios (2017-2022)
- Assets (2017-2022)
- Liabilities (2017-2022)
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in Canada include:
- Statistics Canada
- Industry Canada
- Canadian Business Patterns
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Full-Service Restaurants industry in Canada in 2024?
The market size of the Full-Service Restaurants industry in Canada is $46.4bn in 2024.
How many businesses are there in the Full-Service Restaurants in Canada industry in 2024?
There are 78,800 businesses in the Full-Service Restaurants industry in Canada, which has grown at a CAGR of 1.2 % between 2019 and 2024.
Has the Full-Service Restaurants industry in Canada grown or declined over the past 5 years?
The market size of the Full-Service Restaurants industry in Canada has been growing at a CAGR of 1.4 % between 2019 and 2024.
What is the forecast growth of the Full-Service Restaurants industry in Canada over the next 5 years?
Over the next five years, the Full-Service Restaurants industry in Canada is expected to grow.
What are the biggest companies in the Full-Service Restaurants market in Canada?
The biggest companies operating in the Full-Service Restaurants market in Canada are Recipe Unlimited Corporation, The Keg Steakhouse and Bar and Boston Pizza International Inc.
What does the Full-Service Restaurants in Canada include?
Serving food and beverages to customers and Owning and operating full-service restaurants are part of the Full-Service Restaurants industry.
Which companies have the highest market share in the Full-Service Restaurants in Canada?
The company holding the most market share in Canada is Recipe Unlimited Corporation.
How competitive is the Full-Service Restaurants industry in Canada?
The level of competition is high and increasing in the Full-Service Restaurants industry in Canada.
