Toronto – April 23, 2021 – As Kevin Grier Analysis and Consulting continues to breakdown 2020 data on consumer-packaged goods (CPG) in the food sector, the numbers indicate that $15.5 billion, or 37 percent, of manufacturer sales were exported.
In fact, 90 percent of these manufactured goods were destined to U.S. markets, while just 64 percent of imports coming from the south. Domestic demand for Canadian CPG is solid at 59 percent, but down from 70 percent a decade ago.
With imports from diversified markets and solid exports, Canadian grocers top strong sales with food manufacturers maintaining healthy profits.
The Canadian economy continues to defy odds in the pandemic by accelerating growth with food manufacturers and grocers as the largest beneficiaries.