Revitalizing Canada’s food sector: The path to $25B in value-added processing

Protein Industries Canada releases The Road to $25 Billion, an updated roadmap for Canada’s ingredient manufacturing, food processing, and bio-products sector.

An update on the report originally released in 2021, the new version now outlines the immediate steps required for Canada to seize a $25 billion annual economic opportunity through value-added processing.

“In a rapidly changing global environment characterised by the new realities of climate change, geopolitical tensions, increased competition, and a rapidly growing global population, maintaining the status quo is no longer an option,” CEO of Protein Industries Canada Bill Greuel said. “We must consider areas of the economy that have the potential to grow and be resilient within this new reality. Canada’s ingredient manufacturing sector is one of those. It can offer prosperity, a strengthened food supply chain and economic resilience to Canada in the face of this evolving landscape.”

Canada’s agriculture and food sector has long been undervalued as an economic driver. Currently, our trading partners import Canadian raw commodities, and generate value through ingredient manufacturing, food production, and bio-product development. Some of these products are exported back to Canada. Bringing this value-added opportunity home represents the $25 billion potential outlined in the Roadmap.

Investing in ingredient manufacturing, food processing, and bio-products not only promises to add $25 billion a year to our economy and create 17,000 jobs, but also offers several additional benefits:

• new development to revitalise local communities in the form of 10 to 15 new processing plants across Canada;
• more opportunities for farmers;
• reduced emissions on global food systems;
• enhanced security for Canada’s food supply chain; and
• the establishment of Canada as a leader in the global food system shift.

“The federal government’s $350 million investment into Protein Industries Canada has been invaluable in bringing attention to the sector and Canada’s opportunity. But we must go further, and with urgency, to build off those investments to ensure Canada remains competitive and captures the value of our commodities to strengthen the Canadian economy.” Greuel said.

The full report can be found at www.theroadto25billion.ca.