Industry Statistics and Trends
Market size and recent performance (2014-2029)
Industry revenue has grown at a CAGR of 3.9 % over the past five years, to reach an estimated $7.6bn in 2024.
Trends and Insights
In the pandemic's wake, producers find their markets have shifted
- Frozen food producers endured heightened volatility during the pandemic, but compared with many other manufacturing industries, they emerged relatively unscathed. Profit fluctuated but has ultimately been higher than in 2019 for the duration of the current period, and producers have managed to mitigate climbing input costs.
- Additional trends and insights available with purchase
Source: Alfabank-Adres
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Further innovation will magnify frozen food's convenience, driving demand
- The convenience of frozen foods and meals will grow in appeal in the coming years, as consumers become more time-strapped and innovation brings new and enhanced products.
Biggest companies in the Frozen Food Production in Canada
| Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
|---|---|---|---|---|
McCain Foods | 439.6 | 70.1 | 15.9 | |
Nestle Canada | 171.4 | 30.0 | 17.5 | |
Conagra Brands | 106.2 | 16.9 | 15.9 |
To view the market share and analysis for all 4 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: Alfabank-Adres
Industry revenue is measured across several distinct product and services lines, including Frozen meat, Frozen poultry and Frozen fish and seafood. Frozen meat is the largest segment of the Frozen Food Production in Canada.
Trends and Insights
Health concerns steer consumers away from frozen meat products
- Frozen meat products include goods mainly consisting of red meat, like beef, lamb and pork. Frozen meat products have historically accounted for the lion's share of Frozen Food Production revenue. But while meat products retain a hold on the industry, they've sunk as a share of revenue.
- More insights available in the full report
Table of Contents
About this industry
Industry definition
Companies in this industry produce frozen food products like frozen meat, fruits, vegetables, fish, seafood and poultry. These products are subsequently distributed to outlets like grocery wholesalers, retail food stores and hospitality companies.
What's included in this industry?
Producing frozen meatsProducing frozen fish and seafoodProducing frozen fruit and vegetablesProducing frozen poultryCompanies
McCain FoodsNestle CanadaConagra BrandsPurchase this report to view all 4 major companies in this industry.
Related Terms
CRYOGENIC FREEZINGADDITIVEROBOTICSIndustry Code
NAICS 311410 - Frozen Food Production 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 shift in market dynamics post-pandemic has led to accelerated direct-to-retail sales. As consumers prefer cooking at home despite rising food prices, frozen food producer...
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
Health concerns shift dietary choices away from frozen meats. Heightened awareness about the health impacts of red meat and rising prices are causing consumers to explore pla...
In this chapter
- Products & Services
- Major Markets
- International Trade
Key metrics
- Largest market segment and value in 2024
- Product innovation level
- Total imports, level and trend
- Total exports, level and trend
- Trade Balance
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
- International trade, including imports by country and exports by country
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
- Recent trends in import and export volumes, country of origin or destination, and expected future trends
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
Ontario leads in frozen food production as a result of solid industry networks and infrastructure. Its large consumer base and presence of major companies like Nestle Canada ...
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
The scale of domestic frozen food production is small, ensuring no single company dominates. This fragmentation maintains a competitive atmosphere, with new entrants continuo...
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
The industry is highly fragmented, and there are few large domestic companies. Canadian frozen food producers compete against international producers like Nestle and Conagra,...
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 McCain Foods's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Nestle Canada's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Conagra Brands's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of revenue, market share and profit margin trend for one additional company
Detailed analysis
- Description and key data for McCain Foods, and factors influencing its performance in the industry
- Description and key data for Nestle Canada, and factors influencing its performance in the industry
- Description and key data for Conagra Brands, and factors influencing its performance in the industry
- Description, key data and performance trends for one additional company
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Frozen food production is strictly regulated. The Safe Food for Canadians Regulations (SFCR) enforce traceability, licensing and preventive controls. This enhances food safet...
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
Input prices and supply chain disruptions challenge producers. Despite this, Canadian frozen food manufacturers have reduced some purchase costs post-pandemic, benefiting not...
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)
Top Questions Answered
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Frozen Food Production industry in Canada in 2024?
The market size of the Frozen Food Production industry in Canada is $7.6bn in 2024.
How many businesses are there in the Frozen Food Production in Canada industry in 2024?
There are 308 businesses in the Frozen Food Production industry in Canada, which has grown at a CAGR of 1.0 % between 2019 and 2024.
Has the Frozen Food Production industry in Canada grown or declined over the past 5 years?
The market size of the Frozen Food Production industry in Canada has been growing at a CAGR of 3.9 % between 2019 and 2024.
What is the forecast growth of the Frozen Food Production industry in Canada over the next 5 years?
Over the next five years, the Frozen Food Production industry in Canada is expected to grow.
What are the biggest companies in the Frozen Food Production market in Canada?
The biggest companies operating in the Frozen Food Production market in Canada are McCain Foods, Nestle Canada and Conagra Brands
What does the Frozen Food Production in Canada include?
Producing frozen meats and Producing frozen fish and seafood are part of the Frozen Food Production industry.
Which companies have the highest market share in the Frozen Food Production in Canada?
The company holding the most market share in Canada is McCain Foods.
How competitive is the Frozen Food Production industry in Canada?
The level of competition is moderate and increasing in the Frozen Food Production industry in Canada.
Related Industries
Widen your competitive advantage with related industries
Competitors
- Canned Fruit & Vegetable Processing in Canada
- Ice Cream Production in Canada
- Bread Production in Canada
Complementors
- Meat, Beef & Poultry Processing in Canada
- Juice Production in Canada
International industries
- Global Fruit & Vegetable Processing
- Global Soft Drink & Bottled Water Manufacturing
- Frozen Food Production in the US
- Frozen Fruit & Juice Production in the US
- Frozen Pizza Production in the US
Methodology
How are Alfabank-Adres reports created?
Alfabank-Adres 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 Alfabank-Adres readers. Finally, each report is reviewed by one of Alfabank-Adres’s editors, who provide quality assurance to ensure accuracy and readability.
Alfabank-Adres 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 Alfabank-Adres 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, Alfabank-Adres’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 Alfabank-Adres forecast its data?
Alfabank-Adres’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.
Alfabank-Adres 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.
