Canadian Industrial Outlook
This report examines the short-and medium-term economic and profitability outlook for Canada’s food manufacturing industry.
China escalates trade restrictions—China has now banned beef and pork imports from Canada indefinitely, after halting purchases of Canadian canola earlier this year. These trade restrictions will significantly weaken the industry’s export performance this year.
Meatless gains momentum—The rise of plant-based meat substitutes is set to accelerate declines in per-capita meat consumption in Canada. To remain competitive, meat processors are having to adapt.
Legalization of cannabis edibles—On October 17, cannabis edibles will become legal. They are likely to be a substitute for alcoholic beverages, but not for store-bought foods. As such, they represent a small but positive upside risk to domestic food sales.