Foodservice

State of the Foodservice Industry

The foodservice industry in the United States is in the midst of its rebound at the end of Q1 2023. As it works through a vastly different landscape than prior the pandemic, the unusual economic conditions are making consumers more apprehensive to spend and operators more pessimistic about their future.

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To provide industry support and information for issues we all deeply care about.

Consumer response
to high menu prices:

53% cook at home more often
41% visit restaurant less frequently
38% seek more deals
32% trade down to less expensive restaurant

Bar chart showing % or consumers averaging at least one foodservice order per week.

5 Factors Facing Foodservice

Unusual Economy

Job growth & labor participation grew
Inflation is slowing
Consumer spending continues

Recovery Mode

Indexing higher than 2019 sales
Same stores sales normalizing

Weary Operators

Concerns about food costs, disposables & labor
Wages increasing at a slower pace

Menu Pricing

Average check at limited service passed $10
Restaurant prices rising faster than groceries at home

Trends to Watch

Convenience in getting food
Climate friendly food
Breakfast as dinner
Dashboard dining

Full report only available to IFPA members.

Questions?

We are here to help provide context for you business decisions.

Gina Jones

Gina Jones

VP
Global Insights

+1 (302) 607-2180 Email Gina Jones

Rachel Blake

Manager
Global Insights

+1 (302) 607-2175 Email Rachel Blake

Maddie Rennardson

Global Insights Coordinator

+1 (302) 607-2125 Email Maddie Rennardson

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