SPECIAL: G
THE GROWTH EDITION
rowth is a focus for most foodservice operators, but how, when and where they grow will be diff erent for all. Defi ned by the Cambridge
Dictionary as “the process of developing or increasing in
size”, growth is critical to all businesses. The opposite of growth – shrinking – is unthinkable if you want to survive and thrive; stagnating is equally unpalatable. As B C Forbes, the founder of Forbes
magazine said: “If you don’t drive business, you’ll be driven out of business.” In foodservice, growth is arguably more important than in most other sectors. At a time of high infl ation, and a serious shortage of staff , expanding – whether through new stores, product diversifi cation or delivery – is the key to survival.
As the global foodservice market continues to emerge from the pandemic that caused so much damage and closed thousands of restaurants, there are plenty of green shoots to focus on and genuine hope for a return to growth and buoyancy. Without doubt there is cause for
optimism. Looking at the big picture across the market, this is a sector primed to grow given the right conditions. Some indicators of growth: The foodservice industry workforce in the US – where the restaurant industry is worth an estimated $800bn – is projected to grow by 400,000 jobs to total industry employment of 14.9 million by the end of the year, according to the State of the Nation report, published by the National Restaurant Association. In the UK, meanwhile, the foodservice
industry is projected to generate sales of more than £95bn in 2022, representing a 27% increase on the year before, but not quite enough to send it back to pre- pandemic levels. The fi gures, detailed in The Next Era for Foodservice, 2022 to 2025 report from FutureFoodservice, indicate that a bounce back is happening. Simon Stenning, the founder of
FutureFoodservice, pointed to a number 56
of trends driving this growth – and they are diff erent from just 10 years ago. They include the emergence of dark kitchens, virtual brands, make-aways (better known as meal kits) as well as new CPUs, food preparation systems and delivery solutions. “While the past two years have been incredibly challenging for all in the industry, the future, from this year onwards, sees exciting new concepts growing, an increase in experiential dining providing consumers with persuasive reasons for eating and drinking out of home, and new technology enabling more effi cient experiences,” he said. “Value-driven, convenient, fast- food solutions will also become more important, meeting new consumer demands, especially from those who are cash-poor and time-poor, but also as the way we live changes, and we try to fi t more in.” Evidence, if any were needed, that foodservice is an everchanging, shapeshifting sector where innovation keeps everyone on their toes. For consultants, assessing growth in the sector is a diff erent challenge today, according to Laura Lentz FCSI, design principal of Culinary Advisors in Maryland in the US. “A lot of the data that we have all used to assess growth in the past is now skewed or obsolete from the pandemic. I think that we need to be considering a roadmap of the past (perhaps declines or growth) in order to map out the future,” she says. “For example, if a particular client saw great decline and is only at half population right now then that changes the parameters going forward.”
JOBS IN US FOODSERVICE SECTOR BY THE END OF 2022
EXPEC 14.9 M
TIMATED WORTH OF THE RESTAURANT INDUSTRY IN THE US
ES$800 BN
TED NUMBER OF
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