The Latest News

FE&S delivers relevant news of the day to the foodservice equipment and supplies marketplace.

Advertisement

Foodservice Equipment and Supplies Sales Growth Continues to Moderate, per MAFSI

Although still growing, sales of foodservice equipment and supplies continue to moderate reflecting a somewhat less volatile marketplace.

For example, sales of foodservice equipment and supplies increased 8.7% during the fourth quarter of 2022, compared to the previous quarter, which saw 9% sales increase. This data comes from the latest Business Barometer published by the Manufacturers’ Agents Association for the Foodservice Industry. Looking ahead, reps forecast a 7% sales increase for the first quarter of 2023 compared to the same period in 2022.

Coming out of the pandemic pent-up operator and consumer demand led to steep increases in foodservice equipment and supplies sales, peaking with a 20.7% growth rate in the second quarter of 2021. Since then, sales growth has remained high but it has gradually ticked down, with quarterly growth rates of 17.9%, 16.8%, 13.2% and 11.5%. Still, quarterly growth rates of 8% and the projected 7% remain noteworthy even as sales of foodservice equipment and supplies start to stabilize.

In addition, other MAFSI metrics point to a still strong business climate. For example, 30% of reps report increased consultant activity during the fourth quarter of 2022, up 5% from the third quarter of 2022. And 43% of reps reported increased quoting activity for the fourth quarter of 2022, this is 14% better than the previous quarter.

Fourth quarter sales growth varied by region as well as product type. On a regional basis, the South led the way with 11.4% growth followed by 9.9% in the West, 8.9% in the Midwest and 6.2% in the Northeast. Canada reported a 6.4% sales increase.

Looking at sales by product type, primary cooking equipment led the way with a 10.5% increase and was followed closely by serving and holding equipment, which saw sales increase by 10.2%. The growth rate for other product categories includes storage and handling equipment at 9.5%, refrigeration and ice machines at 8%, food preparation equipment at 6.9% and warewashing/waste handling equipment at 3.5%. Ventilation sales decreased by 2% per the MAFSI data.