$44.9bn
$X.Xbn
77,278
876
$X.Xbn
Canadian meat, beef and poultry processors are powerhouses in Canada's food manufacturing sector. Despite this role, slow growth in per capita meat consumption has pressured growth prospects. Disease outbreaks and a growing awareness of the health risks associated with red meat consumption have threatened Canadian appetites for steaks and fresh meats. Even so, meat products remain staples in the Canadian diet. Revenue has expanded at a CAGR of 3.5% over the past five years to reach an expected $44.9 billion in 2024, including a 1.5% jump in 2024 alone.
Industry revenue has grown at a CAGR of 3.5 % over the past five years, to reach an estimated $44.9bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
Olymel | 4,733.0 | 461.9 | 9.8 | |
Cargill | 2,808.0 | 353.3 | 12.6 | |
Maple Leaf Foods | 2,655.6 | 154.2 | 5.8 |
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Industry revenue is measured across several distinct product and services lines, including Slaughtered animal products (except poultry), Poultry processing and Processed meats and meat by-products. Slaughtered animal products (except poultry) is the largest segment of the Meat, Beef & Poultry Processing in Canada.
Red meats remain staples in most diets
Operators in Canada's Meat, Beef and Poultry industry slaughter animals, process the carcasses and package the meat into products and by-products. Industry operators also purify and refine animal fat, bones and meat scraps. Products are sold to other food manufacturers, renderers, grocery and meat wholesalers and retail traders. Establishments that mainly cut and pack meats (i.e. boxed meats) from purchased carcasses are also included in this industry.
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NAICS 31161 - Meat, Beef & Poultry Processing in Canada
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Changing consumer preferences and health concerns pressure processors, yet high substitute prices keep most Canadians from phasing out meat products. Despite shifting trends,...
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As meat and beef prices climb, many consumers turn to poultry. Individuals often view white meat as healthier. This shift shows a tendency toward cost-effective and perceived...
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Processors near large population centers can build strong relationships with key retail markets. Their proximity allows for efficient logistics and better market understandin...
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.
Quality is a crucial competitive factor. Demand for ethically sourced and grass-fed meats is rising. Consumers increasingly seek products that align with their values, favour...
Learn about the performance of the top companies in the industry.
Reducing emissions and implementing sustainable practices are key priorities for leading processors. Many consumers now favour brands with transparent supply chains, driving ...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Processors follow strict quality and labelling standards, with significant fines and penalties for poor-quality meats. Companies must comply to avoid severe consequences. Qua...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Companies face volatile purchase costs. Rising feed prices, disease and drought can skyrocket livestock prices, creating financial challenges in the industry. Businesses must...
Including values and annual change:
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Key data sources in Canada include:
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:
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The market size of the Meat, Beef & Poultry Processing industry in Canada is $44.9bn in 2024.
There are 876 businesses in the Meat, Beef & Poultry Processing industry in Canada, which has declined at a CAGR of 0.5 % between 2019 and 2024.
The market size of the Meat, Beef & Poultry Processing industry in Canada has been growing at a CAGR of 3.5 % between 2019 and 2024.
Over the next five years, the Meat, Beef & Poultry Processing industry in Canada is expected to grow.
The biggest companies operating in the Meat, Beef & Poultry Processing market in Canada are Olymel, Cargill and Maple Leaf Foods
Slaughtering animals and Cutting and packing meats are part of the Meat, Beef & Poultry Processing industry.
The company holding the most market share in Canada is Olymel.
The level of competition is high and increasing in the Meat, Beef & Poultry Processing industry in Canada.