ATLANTA--(BUSINESS WIRE)--The Manufacturers’ Agents Association for the Foodservice Industry (MAFSI) has released their Third Quarter 2015 Commercial Foodservice Business Barometer; a member-sourced report compiling intelligence from the leading sales and marketing agencies in the commercial foodservice industry across the United States and Canada.
The Foodservice Equipment and Supplies market continues its eight-year track of steady, solid growth. Overall, sales for North America for Q3 2015 compared with Q3 2014 grew by a spirited +5.0 percent, but slightly less than the +5.1 percent level forecasted in the previous quarter’s Barometer Report.
With more proportionate growth from region to region, and by product type and equipment sub-category; balanced growth of our third quarter survey indicates prolonged staying power, in contrast to more typical, uneven regional results reported in previous surveys.
The Midwest and Northeast lead regional growth in the third quarter with +5.7 percent and +5.4 percent, respectively. The West was not far behind at +5.1 percent, and the South reported +4.3 percent. Compared to our second quarter barometer at +2.9 percent, Canada has made significant progress at +4.7 percent.
Compared to the third quarter of 2014, regional variations within the aggregate Equipment Group were slender with +6.0 percent in the Midwest, +5.2 percent in the West, +5.1 percent in the Northeast, +4.6 percent in Canada, and +4.5 percent in the South.
Across the US and Canada, foodservice equipment sub‐category growth reached +5.9 percent Food Preparation, +5.7 percent Refrigeration and Ice Machines, +5.4 percent Primary Cooking Equipment, +4.8 percent Serving, +4.6 percent Storage and Handling, +3.4 percent Warewashing/Sanitation, and +3.0 percent Ventilation.
Fifty-four percent of MAFSI rep members reported “More Quoting Activity” in the third quarter, and thirty-eight percent of members report “More Foodservice Consultant Activity;” an almost perfect mirror to the previous quarter’s results.
“The foodservice industry is a prime beneficiary of some major underlying economic factors,” said MAFSI Executive Director, Alison Cody.
“With a near full employment economy, and a precipitous drop in energy costs, both factors can give a serious spur in restaurant sales.”
The overall forecast for fourth quarter sales are slightly less with +4.3 percent, but are consistent with members’ yearly sales forecasts of +4.1 percent for 2015, and +4.5 percent for 2016.
The MAFSI Commercial Foodservice Business Barometer is a proprietary, member-only benefit compiled solely by the members of MAFSI. To obtain a copy of the full report of the third quarter Commercial Foodservice Business Barometer, any past and future Barometer reports, or the 2016 MAFSI Commercial Foodservice Market Forecast, please call 404-214-9474, email email@example.com, or visit www.mafsi.org.
The Manufacturers’ Agents Association for the Foodservice Industry (MAFSI) is a 66 year-old, professional trade association comprised of 265+ independent sales and marketing agencies and 260+ manufacturers of commercial foodservice equipment, supplies, tabletop and furnishings. Representing over 2,400 sales and marketing professionals and manufacturing executives across North America, MAFSI provides market forecasting, networking and partnership opportunities, industry stewardship, education and resources, and member advocacy for the $11 billion commercial foodservice equipment, supply, tabletop, and furniture industry. For more information about MAFSI, please call 404-214-9474, email firstname.lastname@example.org, or visit www.mafsi.org.
About The MAFSI Commercial Foodservice Business Barometer
The quarterly MAFSI Commercial Foodservice Business Barometer is one of the foodservice industry’s foremost snap shots of market dynamics on the non-food side, as well as sales and quoting projections. Cited in countless media outlets, and relied on by many Wall St. investment firms, the MAFSI Commercial Foodservice Business Barometer covers all pertinent areas of non-food foodservice items including equipment, supplies, tabletop, and furnishings. Beginning in the first quarter of 2014, the Barometer Report included market data for seven additional equipment sub-categories including primary cooking equipment, refrigeration and ice machines, storage and handling equipment, food preparation equipment, serving equipment, warewashing and sanitation, and ventilation.