Industry Statistics and Trends
Market size and recent performance (2014-2029)
Industry revenue has grown at a CAGR of 3.5 % over the past five years, to reach an estimated $44.9bn in 2024.
Trends and Insights
Changing preferences threaten processors
- In 2007, the World Cancer Research Fund and the American Institute for Cancer Research discovered a link between eating red meat and an increased risk of colorectal cancer. Subsequent studies have also established connections between red meat consumption and elevated cholesterol levels, heart disease and other health issues.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Vertical integration and consolidation will shape the industry's landscape
- Many processors plan to reduce the number of locations in favour of larger, more efficient operations. Growth opportunities are scarce in this saturated market, so meat processors have turned to merger and acquisition markets to expand.
Biggest companies in the Meat, Beef & Poultry Processing in Canada
| Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
|---|---|---|---|---|
Cargill | 2,808.0 | 353.3 | 12.6 | |
Maple Leaf Foods | 2,655.6 | 154.2 | 5.8 | |
JBS Foods Canada | 709.0 | 28.9 | 4.1 |
To view the market share and analysis for all 5 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Slaughtered animal products (except poultry), Poultry processing and Processed meats and meat by-products. Slaughtered animal products (except poultry) is the largest segment of the Meat, Beef & Poultry Processing in Canada.
Trends and Insights
Red meats remain staples in most diets
- Slaughtered animal products, including beef, pork, lamb, mutton and other red meats, make up the largest revenue share for meat processors, significantly driving their financial success.
- More insights available in the full report
Table of Contents
About this industry
Industry definition
Operators in Canada's Meat, Beef and Poultry industry slaughter animals, process the carcasses and package the meat into products and by-products. Industry operators also purify and refine animal fat, bones and meat scraps. Products are sold to other food manufacturers, renderers, grocery and meat wholesalers and retail traders. Establishments that mainly cut and pack meats (i.e. boxed meats) from purchased carcasses are also included in this industry.
What's included in this industry?
Slaughtering animalsCutting and packing meatsPreparing processed meats and meat by-productsRendering and refining animal fat, bones and meat scrapsCompanies
CargillMaple Leaf FoodsJBS Foods CanadaPurchase this report to view all 5 major companies in this industry.
Related Terms
LISTERIOSISBOVINE SPONGIFORM ENCEPHALOPATHYWHOLESALE BYPASSIndustry Code
NAICS 31161 - Meat, Beef & Poultry Processing 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
Changing consumer preferences and health concerns pressure processors, yet high substitute prices keep most Canadians from phasing out meat products. Despite shifting trends,...
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
As meat and beef prices climb, many consumers turn to poultry. Individuals often view white meat as healthier. This shift shows a tendency toward cost-effective and perceived...
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
Processors near large population centers can build strong relationships with key retail markets. Their proximity allows for efficient logistics and better market understandin...
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
Quality is a crucial competitive factor. Demand for ethically sourced and grass-fed meats is rising. Consumers increasingly seek products that align with their values, favour...
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
Reducing emissions and implementing sustainable practices are key priorities for leading processors. Many consumers now favour brands with transparent supply chains, driving ...
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 Cargill's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Maple Leaf Foods's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of JBS Foods Canada's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of revenue, market share and profit margin trend for 2 additional companies
Detailed analysis
- Description and key data for Cargill, and factors influencing its performance in the industry
- Description and key data for Maple Leaf Foods, and factors influencing its performance in the industry
- Description and key data for JBS Foods Canada, and factors influencing its performance in the industry
- Description, key data and performance trends for 2 additional companies
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Processors follow strict quality and labelling standards, with significant fines and penalties for poor-quality meats. Companies must comply to avoid severe consequences. Qua...
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
Companies face volatile purchase costs. Rising feed prices, disease and drought can skyrocket livestock prices, creating financial challenges in the industry. Businesses must...
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 Meat, Beef & Poultry Processing industry in Canada in 2024?
The market size of the Meat, Beef & Poultry Processing industry in Canada is $44.9bn in 2024.
How many businesses are there in the Meat, Beef & Poultry Processing in Canada industry in 2024?
There are 876 businesses in the Meat, Beef & Poultry Processing industry in Canada, which has declined at a CAGR of 0.5 % between 2019 and 2024.
Has the Meat, Beef & Poultry Processing industry in Canada grown or declined over the past 5 years?
The market size of the Meat, Beef & Poultry Processing industry in Canada has been growing at a CAGR of 3.5 % between 2019 and 2024.
What is the forecast growth of the Meat, Beef & Poultry Processing industry in Canada over the next 5 years?
Over the next five years, the Meat, Beef & Poultry Processing industry in Canada is expected to grow.
What are the biggest companies in the Meat, Beef & Poultry Processing market in Canada?
The biggest companies operating in the Meat, Beef & Poultry Processing market in Canada are Cargill, Maple Leaf Foods and JBS Foods Canada
What does the Meat, Beef & Poultry Processing in Canada include?
Slaughtering animals and Cutting and packing meats are part of the Meat, Beef & Poultry Processing industry.
Which companies have the highest market share in the Meat, Beef & Poultry Processing in Canada?
The company holding the most market share in Canada is Cargill.
How competitive is the Meat, Beef & Poultry Processing industry in Canada?
The level of competition is high and increasing in the Meat, Beef & Poultry Processing industry in Canada.
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Competitors
Complementors
Methodology
How are IBISWorld reports created?
IBISWorld 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 IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld 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 IBISWorld 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, IBISWorld’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 IBISWorld forecast its data?
IBISWorld’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.
IBISWorld 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.
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