Canada’s Food Industry forecasts revenue, costs and profits for the food industry by analyzing the outlook for meat, dairy and seafood products, as well as fruit and vegetable processing, sugar and confectionery products, bakery and tortilla production, grain and oilseed milling, and animal feed manufacturing.
Overall profits will fall by 5.7 per cent this year to $2.6 billion. Over the medium term, profits will range between $2.5 and $2.8 billion.
Exports will continue to be the key to growth for many food processors, since slow population growth and fairly stable per capita food consumption limit revenue gains in the domestic market. However, trade barriers will limit the expansion of some segments, such as dairy products, while capacity constraints on production will curb export growth in other segments, such as seafood.
The outlook includes a special feature on the consequences for meat processors of the ban on live cattle exports.