CHICAGO, Aug. 16, 2016 /PRNewswire/ -- 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.
Press Inquiries and Analysis Details: Bob Goldin, (312) 506-3936, or [email protected]
Only Technomic, a Winsight company, delivers a 360-degree view of the food industry. We impact growth and profitability for our clients by providing consumer-grounded vision and channel-relevant strategic insights. Our services range from major research studies and management consulting solutions to online databases and simple fact-finding assignments. Our clients include food manufacturers and distributors, restaurants and retailers, other foodservice organizations, and various institutions aligned with the food industry. Visit us at technomic.com.
About Winsight, LLC
Winsight, LLC is a business-to-business media and information services company specializing in the convenience-retailing, restaurant and noncommercial foodservice industries. Winsight has an extensive media portfolio including four publications, CSP, Restaurant Business, FoodService Director and Convenience Store Products, a suite of digital products including websites, e-newsletters (Restaurant Business Daily and CSP Daily News) and webinars, plus video products, mobile and tablet apps, custom marketing solutions and the convenience-retailer intelligence tool, CSPedia. The Winsight Events group produces six exclusive, large-scale executive-level conferences—Restaurant Leadership Conference, FARE Conference, Outlook Leadership, Convenience Retailing University, FSTEC and MenuDirections—in addition to more than 12 major EduNetworking conferences and advisory meetings. Winsight recently acquired Technomic, Inc., a food industry provider of primary and secondary market information and advisory services. Winsight is a recognized leader in the markets it serves.
For more information on Winsight and its brands, go to WinsightMedia.com.