The Manufacturers’ Agents Association for the Foodservice Industry (MAFSI) has released their 2015 Commercial Foodservice Market Forecast; a member-sourced report compiling intelligence from the leading sales and marketing agencies in foodservice equipment industry in the United States and Canada.
MAFSI Reps are forecasting healthy growth of +4.1 percent for 2015, over 2014.Growth is expected across all regions of North America and all product segments (equipment, supplies, tabletop, and furnishings) including MAFSI's recent addition of new equipment sub-categories (primary cooking equipment, refrigeration and ice machines, storage and handling equipment, food preparation equipment, serving equipment, warewashing and sanitation equipment, and ventilation).
Geographically, overall sales for 2015 vs. 2014, the Northeast is forecasted at +4.1 percent, Midwest at +4.6 percent, South at +4.0 percent, West at +4.8 percent and Canada at +3.4 percent.
By major product category for North America, Reps forecast Equipment at +4.1 percent, Supplies at +4.7 percent, Tabletop at +4.3 percent, and Furnishings at +3.1 percent.
By equipment sub-categories, Reps forecast Primary Cooking Equipment at +4.2%, Refrigeration & Ice Machines at +4.8%, Storage & Handling Equipment at +4.0 percent, Food Preparation Equipment at +4.3 percent, Serving Equipment at +4.0 percent, Warewashing & Sanitation Equipment at +3.9 percent and Ventilation at +3.9 percent for 2015 over 2014.
Though the numbers are beginning to dampen, this forecast predicts another year of continued growth since the “The Great Foodservice Recession.” Through reps’ continued efforts to move the market with increased quoting and a steady foodservice design consultant pipeline; 2015 continues to indicate another strong marketyear for the commercial foodservice industry.
The MAFSI Commercial Foodservice Market Forecast remains congruent with the overall state of the US economy. Though 2015 is poised to be better than 2014, it likely won’t be better by much. Overall GPD is forecasted at +4.1 percent, (with our forecast mirroring at +4.1 percent.) Fortunately, due to domestic crude oil production, prices are now less than $75 a barrel. This translates to an annual savings of $500 per family, and hopefully a few more trips to restaurants. Labor remains strong with the unemployment rate finally reduced to pre-recession levels. Auto sales are healthy, as is the housing market, and consumer confidence. The outlook in Canada strikes a similar cord, with the economy like the US predicted to outpace most of the G7.
In contrast to this positive outlook, expect continued conflict among policymakers in 2015 as a result of the recent congressional shift in power. With the stock market hitting all-time highs, Japan in a recession, Europe stalling, and China slowing down, many commodity prices are falling, and we may be approaching a tipping point after four years of advances.
The complete 16-page report is for MAFSI members only and includes regional figures for all product categories and sub-categories and variances, foodservice consultant quoting activity, market segment growth,
sales staff growth, along with end-user and dealer forecasts as well as reporting on historical category price changes. To obtain the full 2015 MAFSI Commercial Foodservice Market Forecast, please call 888-254-0033, email email@example.com, or visit www.mafsi.org
The Manufacturers’ Agents Association for the Foodservice Industry (MAFSI) is a 65 year-old, professional trade association comprised of 270+ independent sales and marketing agencies and 270+ 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 2015 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 Market Forecast covers all pertinent areas of non-food foodservice items including equipment, supplies, tabletop, and furnishings. For 2015, we have added seven equipment subcategories including primary cooking equipment, refrigeration and ice machines, storage and handling equipment, food preparation equipment, serving equipment, warewashing and sanitation, and ventilation. To obtain the full 2015 MAFSI Commercial Foodservice Market Forecast, please call 888-254-0033, email firstname.lastname@example.org, or visit www.mafsi.org