Technomic Inc. unveils the first analysis of its kind – the 2016/17 U.S. Food Industry Universe Forecast
CHICAGO, Aug. 16, 2016—Technomic’s new 2016/17 U.S. Food Industry Universe analysis provides coverage of all channels of the $1.74 trillion U.S. food industry, including retail grocery and foodservice. Leveraging proprietary research paired with years of in-house expertise, this unique deliverable found on https://www.technomic.com/ details the entire food industry landscape to identify growth channels and to understand where opportunities exist.
“We are delighted to be able to provide industry participants with comprehensive statistics and projections on the total food industry,” says Bob Goldin, Vice Chairman of Technomic. “Our forecast provides meaningful insights into industry dynamics and growth opportunities and shows that industry growth drivers are evolving”
Key takeaways and opportunities from this Technomic analysis include:
- At 4.8% growth in 2017, Foodservice will outpace Retail, which is projected to grow at 3.0%. Foodservice will account for 60% of industry growth.
- Within Retail, Supermarkets and Supercenters will continue to lose share to “nontraditional” channels.
- The five fastest-growing food industry channels are online (+19.8% in 2017), fresh format (+9.1%), supermarket fresh prepared foods (+8.9%), limited assortment stores (+6.0%) and independent restaurants/small chains (+5.6%). They will contribute 43% of the industry growth.
Technomic updates its forecasts on a regular basis. In addition, it publishes several other annual and long-term forecasts for the food and beverage industry. To learn more, or to receive a copy of this analysis, please visit Technomic.com or contact the individual listed below. For Technomic updates, please follow us on Twitter, LinkedIn or our blog.
Contact:
Press Inquiries and Analysis Details: Bob Goldin, (312) 506-3936, or bgoldin@technomic.com