ATLANTA--(BUSINESS WIRE)--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 percent. Beginning in Q1/17, sales growth slowed to +3.3 percent, followed by +3.5 percent 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 percent in 2018.
After trailing U.S. growth for several years, Canada is forecasted to lead the way at +4.6 percent, followed by the Northeast at 4.3 percent, the South at 3.6 percent, the Midwest at +3.5 percent, and the West at +3.4 percent.
Major product categories (equipment, supplies, tabletop, and furnishings) are remarkably consistent with Equipment at +3.8 percent, Supplies at +3.7 percent, Tabletop at +3.6 percent, and Furnishings at +3.4 percent.
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 percent, Refrigeration & Ice Machines at +4.2 percent, Food Preparation Equipment at +3.4 percent, Serving Equipment at +3.5 percent, Storage & Handling at +3.3 percent, Warewashing at +3.4 percent, and Ventilation at +2.7 percent 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 percent, JanSan Supplies at +3.4 percent, and JanSan Equipment at +3.2 percent 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 percent same, 41 percent more, and only nine percent less. Consultant Activity is identical for 2018, and is projected at 50 percent same, 41 percent more, and nine percent 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 email@example.com, or visit www.mafsi.org
The Manufacturers’ Agents Association for the Foodservice Industry (MAFSI) is a 68-year-old, professional trade association comprised of 270+ independent sales and marketing agencies and 260+ manufacturers of foodservice equipment, supplies, tabletop, furniture, and/or janitorial and sanitation supplies and equipment. 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 $13 billion commercial foodservice equipment, supply, tabletop, and furniture industry, and the janitorial and sanitation industry. For more information about MAFSI, 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