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PUBLISHER'S VIEWPOINT
November 2007
The Challenges Of 2008 And Beyond
My forecasting buddy John Muldowney and I have already done a round of prognosticating for 2008 and are about to look at the trends again. Technomic presented its forecasts of operator prospects a couple weeks ago. Both we and Technomic see plenty of uncertainties, but think foodservice and the suppliers of capital goods to foodservice will grow a bit slower compared to '07, but still grow in real terms.
Lots of details lie behind these forecasts, but what about the big picture? A number of trends about this complex market are clear. Let's review some of them.
1. Eating away from home is part of American life. The run-up in gas prices and other economic hits suffered by consumers the past couple years have made it clear that foodservice is built into how people live in 21st century America. Folks may trade down to quick service or c-stores, but busy lifestyles demand they buy food away from home. And this pattern is becoming the norm in big swatches of the wide world.
2. The infrastructure of American foodservice is being rebuilt. The physical plant of American foodservice, whether a school kitchen or a Burger King, is aging. When you talk to chain-oriented dealer-fabricators or foodservice consultants, they tell you they spend big chunks of their time on renovations. This will only become more pronounced in the future.
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"The long-term prospects for foodservice remain very, very bright."
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3. Operators are beginning to accept technology. From fast-ovens and conveyors in sandwich chains to combi ovens and cook-to-inventory systems in institutional settings, operators are starting to see the benefits of paying for higher technology. Of course, most line cooks still like gas coming out of Venturi burners.
4. Energy use and "green" practices are here to stay. Global warming and resource shortages are the key structural challenges of the century. Operators will demand technologies that will lower their costs and carbon footprints. And material options are already being demanded, especially for high-nickel-content steels.
5. Nutritional and health issues will be a constant part of the operator landscape and lead to more regulation. Smoking in restaurants is already almost a thing of the past. Trans fats are on their way out. Nutritional labeling on menus and menu boards is coming down the express track. And Technomic says operators believe major chains will start offering organic foods shortly. The "good food equals health" equation is stronger than ever, despite all the confusion. It's not going away.
It will be different but the long-term prospects for foodservice remain very, very bright indeed.
Cheers,
Robin Ashton
Publisher
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