ATLANTA--(BUSINESS WIRE)--The Manufacturers’ Agents Association for the Foodservice Industry (MAFSI) has released their annual Commercial Foodservice Market Forecast for 2017; a 24-page member-sourced report compiling industry intelligence from the leading sales and marketing agencies in the foodservice equipment industry in the United States and Canada.
Per the quarterly MAFSI Commercial Foodservice Business Barometer, now in its 14th year, sales growth has been locked into a +4 percent to +5 percent range for the past six years. MAFSI agent members are again forecasting sales growth of +4.4 percent for all of 2017. This is consistent with the 2016 Market Forecast of +4.5 percent.
This forecast is remarkably consistent from region to region with report of +4.6 percent in the Midwest to +4.4 percent in the South and West, +4.2 percent in the Northeast, and +4.1 percent in Canada.
This same consistency is also observed by major product category (equipment, supplies, tabletop, and furnishings), with Tabletop at +5.0 percent, Furnishings at +4.6 percent, Equipment at +4.4 percent and Supplies at +4.1 percent.
For the 2017 equipment sub-categories (including primary cooking equipment, refrigeration and ice machines, storage and handling equipment, food preparation equipment, serving equipment, warewashing and sanitation equipment, and ventilation) respondents forecast Primary Cooking Equipment at +4.5 percent, Refrigeration & Ice Machines at +4.5 percent, Food Preparation Equipment at +4.3 percent, Serving Equipment at +4.2 percent, Storage & Handling at +4.1 percent, Warewashing & Sanitation Equipment at +3.9 percent, and Ventilation at +3.3 percent over 2016.
Since the recovery from the great recession began in 2010, foodservice equipment and supply sales have grown at more than twice the rate of the overall U.S. economy. Although the overall forecast is one of “FULL STEAM AHEAD,” there are many considerations that must be made as we look toward 2017:
- How is quick service being impacted by supermarket prepared foods?
- What will be the impact of $15.00/hour wage initiatives across many states?
- With many regions nearing “full employment” who will fill new jobs?
- How is the growth in the Business and Industry sector affecting restaurant employment as they compete for skilled labor, including chefs?
- What is the impact of the presidential race outcome?
- Can the election bring about economic disruption?
Despite these possible variables, MAFSI agent members believe they have momentum fueled by a strong pipeline to weather most storms.
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, foodservice consultant quoting activity, market segment growth, sales staff growth, end-user and dealer forecasts, as well as historical category price change reporting. To obtain the full 2017 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 67-year-old, professional trade association comprised of 270+ 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 $12 billion commercial foodservice E & S industry.
About The 2017 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, supplies, tabletop, and furnishings. To obtain the full 24-page 2017 MAFSI Commercial Foodservice Market Forecast, please call 404-214-9474, email firstname.lastname@example.org, or visit www.mafsi.org.