The International Foodservice Manufacturers Association (IFMA) released its 2023 Foodservice Industry and Segment Projections today at its annual Marketing & Sales Conference. The forecast, which is hosted on the IFMA Scope platform, projects that operator spend in the foodservice industry will decline by 0.1 percent, considered flat on a real basis in 2023, compared to 2022. The forecast models were created in conjunction with Datassential, a foodservice research firm, and validated by operators from the Foodservice Leadership Councils, who act as advisors to IFMA and its Board of Directors.
While the projection is for flat growth in 2023 in real terms, IFMA projects that the industry will see inflation of 7.7 percent. This means most foodservice segments will spend more in 2023 than they did in 2022 as a result of higher cost of goods rather than increased consumer demand. These projections are based upon several key assumptions, including an economic recession in 2022, supply chain constraints, labor shortages, and many white-collar employees continuing to work remotely rather than in the office.