Cooking ingredients and meals in 2024: The big picture
Cooking ingredients and meals in Canada is seeing health and wellness trends having a mixed impact on the industry in 2024. Some products are suffering slowed growth – such as specific segments within edible oils and sweet spreads, while others are benefitting from manufacturers’ refocused innovative efforts to launch healthier, more functional products.
Key trends in 2024
Canada’s increasingly diverse population in encouraging a broadening product range across categories. Rising numbers of immigrants are helping to bring flavours of the world to the country, motivating greater local interest in new and exciting tastes and flavours.
Competitive landscape
Private label retains its leading position in overall cooking ingredients in 2024. Despite the slowdown in prices for several segments, Canadian consumers continue to trade down, prompted by private label’s expanding offer.
Channel developments
Foodservice continues to gain momentum, with volume sales finally surpassing pre-pandemic levels in 2024. Progress is helped along by increased tourism and the strong influx of newcomers to Canada, supporting sales within foodservice as various new outlets open across the country.
What next for cooking ingredients and meals?
Cooking ingredients and meals will see further benefit from Canada’s persistent and robust population growth through immigration during the forecast period, as well as its rising tourism sector. The influx of people from around the world will add to the diversity of available flavours, especially within sauces, dips and condiments, and ready meals and meal kits.
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Overview:
Understand the latest market trends and future growth opportunities for the Cooking Ingredients and Meals industry in Canada with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
Data and analysis in this report provides further detailed coverage dedicated to a comprehensive range of core packaged food categories.
If you're in the Cooking Ingredients and Meals industry in Canada, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Cooking Ingredients and Meals in Canada report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Cooking Ingredients and Meals in Canada?
- Which are the leading brands in Cooking Ingredients and Meals in Canada?
- How are products distributed in Cooking Ingredients and Meals in Canada?
- How is the rise of e-commerce and/or the expansion of modern grocery retail impacting traditional retail?
- What are the key health and wellness concerns driving, or challenging, sales in Cooking Ingredients and Meals?
- How significant are vegan and vegetarian dietary requirements in determining sales growth in Canada?
- How has COVID-19 impacted consumer demand? To what extent have lockdown, home seclusion and stockpiling boosted sales? Will the longer term economic repercussions of the pandemic stimulate or suppress future growth?
- Where is future growth expected to be most dynamic?
- How significant will values-based claims, such as sustainability and ethical labelling, be in supporting future growth and brand equity?
Cooking Ingredients and Meals in Canada
Cooking ingredients and meals in 2024: The big picture
Key trends in 2024
Competitive landscape
Channel developments
What next for cooking ingredients and meals?
DISCLAIMER
Edible Oils in Canada
KEY DATA FINDINGS
Value growth lags as price rises slow down, while consumption remains steady
Olive oil leads growth but remains plagued by sky-high prices
Private label gains further share in 2024
Edible oils will register a weaker performance during the forecast period
Oil-free cooking methods may emerge as significant threat
Foodservice volume sales set to rise
Meals and Soups in Canada
KEY DATA FINDINGS
Meals and soups sees positive performance in 2024
Ready meals is home to aggressive new product development
Health and wellness trends continue to prevail, propelling plant-based options
Meals and soups set to see consistent growth in forecast period
Players investing more in product innovation and communication
Ready meals to benefit from greater innovation, with Kraft Heinz bringing in AI-based developments
Sauces, Dips and Condiments in Canada
KEY DATA FINDINGS
An overall healthy performance by the category as focus on innovation continues, with spicy flavours coming to the fore
Health and wellness concerns continue to shape progress and development, pushed by plant-based trends
Consumers on the lookout for flavour diversity
Innovation and strong demand mean a bright forecast period for overall category
Health focus will get sharper and stronger for consumers and players
Foodservice will expand further
Sweet Spreads in Canada
KEY DATA FINDINGS
Growth slows amid slowdown for sugar-based segments
Health trends boost functional nut-based spreads and honey
Supermarkets remains leading channel despite losing share
Value growth forecast to slow as volume sales eventually rise
Jams and preserves will post worst performance
Stronger sales in foodservice set to benefit all category segments
The following categories and subcategories are included:
Cooking Ingredients and Meals
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- Olive Oil
- Corn Oil
- Palm Oil
- Rapeseed Oil
- Soy Oil
- Sunflower Oil
- Other Edible Oil
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- Dried Ready Meals
- Shelf Stable Ready Meals
- Chilled Ready Meals
- Frozen Ready Meals
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- Dry Soup
- Shelf Stable Soup
- Chilled Soup
- Frozen Soup
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- Chilled Pizza
- Frozen Pizza
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- Meal Kits
- Quick Recipe Kits
- Chilled Lunch Kits
- Prepared Salads
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- Liquid Stocks and Fonds
- Stock Cubes and Powders
- Gravy Cubes, Powders and Pots
- Monosodium Glutamate
- Herbs and Spices
- Tomato Pastes and Purées
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- Liquid Recipe Sauces (excl pasta sauces)
- Dry Recipe Sauces
- Pasta Sauces
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- Barbecue Sauces
- Fish Sauces
- Ketchup
- Mayonnaise
- Mustard
- Oyster Sauces
- Salad Dressings
- Soy Sauces
- Chili Sauces
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- Dips
- Yeast-based Spreads
- Pickled Products
- Other Sauces and Condiments
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- Honey
- Chocolate Spreads
- Jams and Preserves
- Nut and Seed Based Spreads
Why buy this report?
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This report originates from Passport, our Cooking Ingredients and Meals research and analysis database.
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