E-Library

Industry Lens: Food Manufacturing—September 2021 The Conference Board of Canada, September 21, 2021 Website

Industry Lens: Food Manufacturing—September 2021

The Conference Board of Canada, September 21, 2021
Website

1 2 3 4 5	0 reviews

(You must be signed in and entitled to rate this report)

This industry profile provides a five-year forecast for Canada’s food manufacturing industry. Document Highlights Canada’s food manufacturing industry performed comparatively well during the pandemic. GDP growth of 2.3 per cent is expected in 2021, followed by a further 3.4 per cent growth in 2022. The industry adapted well to the abrupt shift in demand from food services to food retail. The easing of pandemic restrictions is allowing a recovery of food services, and we will see the profile of food demand shift again. Labour shortages, which were exacerbated by the pandemic, continue to be a battle. Recruitment challenges are driven by several factors, including an aging workforce, skills gaps, low wages, and demanding working conditions. Recruiting workers from abroad is becoming increasingly important in the industry. Exports of food products will increase over the forecast period, allowing the long-standing trade surplus to increase. Labour scarcity and increased costs will see firms seeking out efficiency gains through automation.

This industry profile provides a five-year forecast for Canada’s food manufacturing industry.

Document Highlights

Canada’s food manufacturing industry performed comparatively well during the pandemic. GDP growth of 2.3 per cent is expected in 2021, followed by a further 3.4 per cent growth in 2022.
The industry adapted well to the abrupt shift in demand from food services to food retail. The easing of pandemic restrictions is allowing a recovery of food services, and we will see the profile of food demand shift again.
Labour shortages, which were exacerbated by the pandemic, continue to be a battle. Recruitment challenges are driven by several factors, including an aging workforce, skills gaps, low wages, and demanding working conditions.
Recruiting workers from abroad is becoming increasingly important in the industry.
Exports of food products will increase over the forecast period, allowing the long-standing trade surplus to increase.
Labour scarcity and increased costs will see firms seeking out efficiency gains through automation.

To see if you are entitled to get this research for free, take a minute and create a free e-Library account. This will let us determine if someone else at your organization has already purchased access to this material.