Top 10 Fastest-Growing FMCG Companies in Canada in 2023
If you’re looking to start a business, or are just curious about the current state of the market, then knowing the top 10 fastest-growing FMCG companies in Canada is essential. FMCG stands for fast-moving consumer goods, and these are products that have a high turnover rate due to their popularity.
In this article, we will be taking a look at the Top 10 FMCG Companies in Canada in 2023:
1. George Weston
George Weston is one of the oldest FMCG companies in Canada, founded well over a century ago in 1882. It has experienced incredible growth since it was founded, now boasting more than 210,000 employees and revenue of 40 billion dollars in 2022. George Weston is involved in retail, real estate, and numerous other industries, but is perhaps most famous for its food products like bread from ACE Bakery and Loblaws-brand dinner items.
It produces everything from bread to dairy products and operates more than 50 brands within its portfolio. It hit another milestone recently with the launch of its online grocery delivery service called ‘WestonGO’ for customers across Ontario earlier this year. These achievements have rightfully established George Weston among the most successful FMCG companies in Canada.
2. Saputo Inc.
Saputo Inc., founded in 1954, is one of the largest cheese producers in the world and a major player in Canada’s FMCG industry. It produces a wide range of products, including cheese, dairy ingredients, snack items, and beverages. Saputo is one of the leading producers of dairy products in Canada. The company is renowned for its commitment to quality and innovation and has grown tremendously over the years.
The company has seen consistent growth year after year, with revenues topping 12 billion dollars for 2022. Saputo’s success lies partly in its success in diversifying into new markets such as organic cheese and developing innovative product lines like dairy-based snacks. The rapid growth of Saputo has been credited to their focus on customer service and quality assurance throughout their production process which makes them a dependable brand within the FMCG market.
3. Bausch Health Companies Inc.
Founded in 1959, Bausch Health is a pharmaceutical giant that produces a vast range of consumer health products. It is a multinational pharmaceutical company headquartered in Montreal, Quebec with operations in more than 25 countries around the world. The company produces and distributes over-the-counter and prescription medications and medical devices for various conditions such as allergies, eye health, mental health, digestive system disorders, and skin care products.
In 2022, Bausch Health has an annual revenue of 2 billion dollars and expand its workforce to more than 20,000 personnel. Bausch’s growth over the years has been credited to its strong focus on innovation and cutting-edge technology which enabled them to develop products that are safe and effective. They have also successfully managed to expand into new markets globally, increasing their presence significantly within the FMCG industry.
4. Kraft Heinz Canada ULC
Kraft Heinz Canada ULC is a leading producer of food items and snacks. Founded in 1876, Kraft Heinz currently has gross annual revenue of $10 billion and employs over 8,500 people across the country. Its extensive product offerings span both frozen and non-frozen food items such as soups, sauces, condiments, cold cuts, and much more. Its portfolio includes some of the most popular brands in the world, such as Heinz ketchup and Oreos. The company also offers its products for retail and food service industries including grocery stores, restaurant chains, schools, hospitals, and more. With their dedication to high-quality products and commitment to providing great customer service and satisfaction, Kraft Heinz Canada ULC is sure to continue to grow over the coming years.
5. Unilever Canada Inc
Unilever Canada Inc comes fifth on our list of fastest-growing FMCG companies in Canada, due to its long-standing commitment to quality and innovation. Founded in 1890, Unilever Canada Inc has grown to be a major player in the FMCG market with an estimated annual revenue of around USD 4 billion for 2022 and more than 2,900 employees across Canada. The company offers a wide range of FMCG products including food, beverage, home, and personal care products. Unilever Canada Inc has become an instantly recognizable brand due to its thoughtful advertising campaigns that promote sustainability while continuing to innovate FMCG products based on consumer needs.
Also Read: Top 10 Restaurants in Canada 2023
6. Mccain Foods
Founded in 1957, Mccain Foods is an international leader in the production of frozen foods. It has experienced growth and success over the decades and is estimated to reach an annual revenue of 8.2 billion dollars in 2022. This multinational corporation has more than 22,000 employees worldwide and produces a broad range of ingredients and food products for customers everywhere. Mccain Foods offers various frozen potato products like French Fries, Hashbrowns, Wedges, Onion Rings, etc as well as appetizers like Pizza and sandwiches. Their other FMCG products include desserts and ready-to-eat meals. With a vision to produce quality food products that are affordable and accessible to everyone, they continue to be one of the leading FMCG companies in Canada.
Founded in 1938, Agropur is a leading Canadian producer of dairy products. This company has grown exponentially in recent years due to its strong commitment to quality and customer service. Operating as a dairy co-operative, it excels in introducing novel and fresh products tailored to meet customers’ needs and expectations. Currently estimated at 7 Billion dollars in 2022, the revenue of Agropur is expected to skyrocket by 2023. With its increasing number of squad members rising over 8,900 all around the globe, Agropur has an extensive portfolio that covers an array of food-concentric specialties such as dairy products, poultry, ice cream treats, and many more.
8. Sofina Foods Inc.
Founded in 1995, Sofina Foods is another big name in the FMCG space that focuses on producing high-quality poultry and seafood products. With a wide range of products that include poultry, red meat, processed meals, and prepared foods amongst others, they are a trusted name in Canadian households. In 2022, they reach an annual revenue worth $5 billion with more than 14000 employees working diligently to meet this target. As one of the largest food companies in Canada, Sofina Foods Inc. continues to strive for excellence by providing quality products and superior customer service.
9. Premium Brands
Founded in 1917, Premium Brands is a leading Canadian producer of packaged foods and snacks. Its portfolio includes some of the most popular brands in the world, such as President’s Choice and LifeChoice. Projecting a revenue that could reach as much as 4 billion dollars in 2022, Premium Brands is investing heavily in top-quality FMCG products such as snacks and beverages for their rapidly expanding customer base. To date, there are currently over 6000 employees. From what we’ve seen so far from Premium Brands, it looks like this FMCG giant will continue on its current trajectory and ascend even higher in the FMCG market past 2023.
10. Coke Canada Bottling
Founded in 1902, Coke Canada Bottling is a major player in the FMCG space. This family-run business produces and distributes a wide array of popular beverages including classic Coca-Cola, Fanta, Nestea, and genuine Powerade sports drinks. In pursuit of its goal to bring delicious drinks to more people across the country, they employ more than 8,000 staff at its production plants, bottling centers, and office locations from coast to coast. In 2022 their annual revenue will exceed 3 billion dollars due to strong demand for their products throughout the region.
These are just a few of the top 10 fastest-growing FMCG companies in Canada. Each of these companies has a strong commitment to quality and innovation, and they continue to be some of the most popular consumer goods companies in the country.
As you can see, FMCG companies in Canada are some of the most successful businesses in the world. Knowing which ones are growing at a rapid rate can help you make better decisions about which companies to invest in or start a business with. Whether you’re an investor, entrepreneur, or just interested in knowing what’s happening in the market, understanding the top 10 fastest-growing FMCG companies in Canada is invaluable.
The Fast-Moving Consumer Goods (FMCG) industry continues to grow year after year due to its high demand for consumer goods. Knowing which companies are performing best within this sector can help you make informed decisions when it comes to investing or starting your own business within this sector! We hope this list gives you an overview of what’s happening within this industry so you can make better decisions moving forward! Good luck!