The Manufacturers’ Agents Association for the Foodservice Industry (MAFSI), has released their annual Commercial Foodservice Market Forecast for 2018; a 24-page member-sourced report compiling industry intelligence from the leading sales and marketing agencies in the foodservice equipment and supply industry, in the United States and Canada.
Per the quarterly MAFSI Commercial Foodservice Business Barometer, from 2011 through 2016, overall sales per quarter moved within a healthy, steady, range of +4 to +5 per cent. Beginning in Q1/17, sales growth slowed to +3.3 per cent, followed by +3.5 per cent in Q2/17. Throughout the six-and-a-half-year period, foodservice moved at nearly twice the growth rate of the overall economy. With these factors combined, MAFSI representatives are forecasting industry growth of +3.7 per cent in 2018.
After trailing U.S. growth for several years, Canada is forecasted to lead the way at +4.6 per cent, followed by the Northeast at 4.3 per cent, the South at 3.6 per cent, the Midwest at +3.5 per cent, and the West at +3.4 per cent.
Major product categories (equipment, supplies, tabletop, and furnishings) are remarkably consistent with Equipment at +3.8 per cent, Supplies at +3.7 per cent, Tabletop at +3.6 per cent, and Furnishings at +3.4 per cent.
For the 2018 equipment sub-categories (including primary cooking equipment, refrigeration and ice machines, storage and handling equipment, food preparation equipment, serving equipment, warewashing, and ventilation) respondents forecast Primary Cooking Equipment at +3.8 per cent, Refrigeration & Ice Machines at +4.2 per cent, Food Preparation Equipment at +3.4 per cent, Serving Equipment at +3.5 per cent, Storage & Handling at +3.3 per cent, Warewashing at +3.4 per cent, and Ventilation at +2.7 per cent over 2017.
MAFSI rep members continue to add janitorial and sanitation (“JanSan”) manufacturers to their portfolio of represented lines, and JanSan manufactures continue to join MAFSI for sales and marketing representatives. To capture more data relevant to these members, the report includes JanSan categories in 2018; the first time in the Forecast’s history. Respondents forecasted JanSan Disposables at +3.6 per cent, JanSan Supplies at +3.4 per cent, and JanSan Equipment at +3.2 per cent over 2017.
The 2018 Market Forecast also includes further measurements of business prospects in both Quoting Activity changes and Consultant Activity changes. Quoting Activity for 2018 is forecast at 50 per cent same, 41 per cent more, and only nine per cent less. Consultant Activity is identical for 2018, and is projected at 50 per cent same, 41 per cent more, and nine per cent less. While slightly less exuberant than in the recent past, these figures are still very positive.
The fastest growing end-user segments were identified as Chain Accounts, Schools (K-12), Healthcare, Business and Industry (B&I), and Independent Operators.
Although the industry growth rate moderated in 2017, and is forecasted for more of the same in 2018, the market is still growing faster than the overall U.S. economy as measured by GDP.
The complete 24-page report is for MAFSI members and interested financial institutions only, and includes regional figures for all product categories and sub-categories and variances, market segment growth, sales staff growth, end-user and dealer forecasts, as well as pricing indices, and capital expenditures. To obtain the full 2018 MAFSI Commercial Foodservice Market Forecast, please call 404-214-9474, email firstname.lastname@example.org, or visit www.mafsi.org.
About The 2018 MAFSI Commercial Foodservice Market Forecast
This member-only benefit is one of the foodservice equipment industry’s foremost snapshots of market dynamics for the coming year. Cited in countless media outlets, and relied on by many Wall St. investment firms, the MAFSI Commercial Foodservice Market Forecast covers all pertinent areas of non-food foodservice items including equipment, supply, tabletop, and furniture, and janitorial and sanitation. To obtain the full 24-page 2018 MAFSI Commercial Foodservice Market Forecast, please call 404-214-9474, email email@example.com, or visit www.mafsi.org.