Technomic Lowers Foodservice Industry Forecast
Although previously Technomic Inc. had only forecasted nominal growth in the U.S. foodservice industry, the Chicago-based foodservice consulting and research company reduced overall industry growth projections down from 3.6 percent to 2.2 percent. The one bright spot, however, continues to be retail foodservice.
Technomic indicated that some chain restaurant operators are showing solid growth, but on the whole, limited-service restaurant growth has slowed substantially, and full-service restaurants are facing even greater challenges.
However, Technomic noted several segments where foodservice growth remains strong. "Retail hosts, including supermarket foodservice and c-stores are one bright spot," said Ron Paul, president of Technomic. "We expect this group to enjoy solid 5 percent growth this year, further evidence of our observation that consumers are 'trading down' to more economical foodservice alternatives."