CHICAGO – Technomic released its expectations for foodservice industry
performance through 2014 earlier this week, updating its earlier forecast that
it released in January.
Since that earlier report, Technomic has lowered its expectations for
the industry, from a nominal 3.9% to 3.8%. However, it raised its 2014 industry
forecast to 4.1%.
"In general, foodservice is still facing headwinds that are
tempering consumers' willingness to eat out," explained Joe Pawlak, Technomic Vice
President. "Slow employment gains and stagnant disposable personal income
are a drag on growth. Coupled with the January tax holiday expiration and
pending government spending cuts from sequestration, consumers are more
cautious about their own discretionary spending."
Pawlak said uncertainty about costs resulting from the Affordable Care
Act is tempering results. However, he mentioned several industry bright spots,
including the following:
- Sales
growth for independent restaurants is outpacing growth at chains
- Supermarket
foodservice is expected to outperform restaurants and bars this year and in
2014