This report is based upon an extensive, cross-country, industry research program which brings together ICD Research's research, modelling and analysis expertise in order to develop uniquely detailed market data. It provides detailed analysis of past and future trends - crucially providing foodservice sales data not just by profit and cost sectors, but showing foodservice sales through different channels. This allows marketers interested in the sector to determine how to account for overall development and to know which channels will be in the ascendency in the coming years.
This report is the result of ICD Research's extensive market and company research covering the US foodservice industry. It provides detailed analysis of both historic and forecast foodservice industry values at channel level, analysis of the leading companies in the industry, as well as detail on the current business environment and landscape.
In 2009, the contraction in the US economy and subsequent reduction in demand led to a -2.1% decline in the US foodservice industry. Following this, the decline in the US foodservice industry was more subdued as the country's GDP growth stabilized in 2010.
In contrast to the review period, the US foodservice market is anticipated to demonstrate growth during the forecast period as a result of the increase in disposable income and the increase in employment in the country between 2011 and 2015.
‘The US: The Future of Foodservice to 2015’ provides a top-level overview and detailed market, channel and company-specific insights into the operating environment for foodservice companies. It is an essential tool for companies active across the US foodservice value chain, and for new companies considering entering the industry.
This report provides readers with unparalleled levels of detail and insight into the development of foodservice sector within the US
This report provides readers with in depth data on the valuation and development of both Profit and Cost sectors in the US foodservice market.
This report provides details on the number of outlets, transactions, average price, foodservice sales, sales/outlet and transactions/outlet/week across nearly 50 sub-channels.
This report provides highly granular future forecasts and historic market data to aid market and strategic planning.
This report will help you to assess the impact of economic recession and recovery on foodservice market growth.
During the review period, the growth in the US foodservice industry was attributed to the strong consumer confidence which reflected the rise in employment and increasing discretionary income in the country. During the period, the US foodservice industry was also driven by the increase in demand for convenience food by the working population. However in the latter half of the review period, the subprime crisis and economic recession in the country had an adverse affect on the US foodservice industry, which declined by -1.2% in 2009.
Between 2010 and 2015, the US foodservice industry is forecast to record a CAGR of 2.88% and is expected to be supported by improving consumer confidence, increase in disposable incomes, and the higher demand for convenience and QSR in the country.
During the forecast period, the positive contributions from exports, rise in federal government spending and the increasing rate of non-residential fixed investments are forecast to accelerate GDP growth in near future.
Despite the adverse economic conditions, US foodservice operators are identifying new opportunities for niche and speciality products to meet consumer needs for convenience, tastes, choice, quality, and affordability, and are offering many value added services to consumers.
Inflation in the US increased to 1.4% in 2010 compared with -0.3% in the previous year and is expected to increase to 1.9% by 2015. In terms of the US foodservice industry, inflation puts pressure on foodservice operators as rising food prices negatively affect the profit margins of the foodservice providers, who must reduce profit margins or impart the higher prices on consumers.
Within the US foodservice industry, the profit sector accounted for an 87.9% share of the total US foodservice sales in 2010 and registered a CAGR 2.79% during the review period. The growth in the profit sector primarily reflected the increase in the retail channel and the pub, club and bar channel during the period.
In 2010, the cost sector of the US foodservice industry represented 12.1% of total US foodservice sales and registered a CAGR of 4.24% during the review period. Overall, the increase in the US cost sector foodservice sales can be attributed to the increase in average foodservice prices, reflecting the prevailing US government's spending in the country.
In the US, demographic and societal changes, alongside economic factors, have determined the growth of the US foodservice industry during the review period. In particular, demographic forces such as an increase in smaller households, the ageing population of the country, and popularity of ethnic food have had an important impact on the US foodservice industry between 2005 and 2010.
In the US, the number of health problems and general concern for living a healthy lifestyle has resulted in the growth of reduced fat products and nutritional products in the US foodservice industry. In response, foodservice operators are offering healthy choices and associating their products with health benefits to capitalize on the health conscious customers.
QR code technology opened endless opportunities to foodservice operators. Foodservice operators are placing QR code on menus, plates, table, or any other accessible place to consumer, so consumers can scan or read a QR code through iPhone, Android or other camera-enabled Smartphone.