Sales among the Top 200 Canadian chains grew by 9.7% in 2023, per Technomic's annual report

Top 200 Canada chain sales climbed to $44 billion, adding $3.9 billion in 2023, and locations expanded by 2.8%—the largest increase observed since 2016

CHICAGO, IL, UNITED STATES, May 16, 2024 /EINPresswire.com/ -- Technomic released its industry-leading report, the 2024 Top 200 Canadian Chain Restaurant Report, which spotlights expert findings and insights into the sales performance of Canada chain restaurants in 2023. The report provides industry sizing, performance rankings and forecasts for the industry, allowing you to not only see how chains fared in 2023, but also acting as a guide to developing sales and marketing strategies, identifying growth opportunities, and monitoring segment and menu category performance.

“Top 200 chain sales are forecasted to hit $47 billion in 2024,” reports Kevin Schimpf, director of industry research at Technomic. “Similar to 2023, an increase in the overall count of chain locations plus higher menu prices are projected to be the major factors behind Top 200 chain sales growth.”

Key findings include:

Led by BarBurrito, Pizza Hut and Popeyes, more than 50 chains opened five or more net locations during 2023

Total full-service chain sales increased to $10 billion in 2023, completing the segment’s recovery to its pre-pandemic sales benchmark from 2019

Driven by strong years from Tim Hortons and Starbucks, coffee cafe chains became the largest chain menu category by total annual sales

Chicken and Mexican concepts experienced double-digit sales growth at 14% and 18.5%, respectively

Technomic has decades of historical data on the leading Canada chain restaurants. The latest report is available for purchase now: https://www.technomic.com/reports/industry-reports/top-200

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About Technomic

Technomic Inc., an Informa Connect company, was founded as a management consulting firm in 1966. Since then, Technomic’s services have grown to encompass cloud-based B2B research tools, consumer and menu trend tracking and other leading strategic research and analytic capabilities, to prioritize and size business opportunities. Our clients include food manufacturers and distributors, restaurants, retailers and multiple other business verticals aligned with the food industry that are looking to make informed decisions to support their business growth. Visit Technomic at www.technomic.com.

Clare Toledo
Technomic
info@technomic.com
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