Foodservice Equipment Reports

Technomic Forecasts 3.9% Nominal, 1.1% Real Growth For Canadian Foodservice in 2013

The foodservice market in Canada outperformed the U.S. market in 2012 and is expected to do so again in 2013, in spite of some slowing, according to the latest forecast from Technomic Inc. The Chicago-based research firm predicts nominal sales will rise 3.9% for the year and, deflated by a forecast 2.8% rise in menu prices, gain 1.1% in real terms. Technomic estimates sales rose 4.3% in current dollars and 1.5% real last year.

Technomic V.P. David Henkes told FER Fortnightly that “Consumer confidence remains stalled even as Canada’s economy continues to see positive growth.” Lower unemployment than in the U.S. (7.1% in Canada currently vs. 7.7% in the U.S.) and gains from strong investment in the energy sector, particularly in the Western provinces, has not led to sustained gains in consumer confidence or willingness to spend more freely.

The increases are being driven by moderate gains for restaurant segments. Limited-service restaurants are expected to grow sales 4.2% and full-service restaurants see a 3.9% gain. In the “Beyond Restaurants” categories, retailers, including supermarkets and c-stores, are forecast to grow foodservice sales 5%, and business and industry is forecast to show a 4.5% increase as employment in energy and manufacturing improves.

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