A growth spurt for catering
Foodservice catering is gathering strength and rebounding, and the forecast looks bright through 2012. Signs of recovery began in 2010, due to aggressive expansion into the catering space by limited-service establishments, the return of business event-driven spending and a healthier consumer outlook.
- Catering revenue exceeded $14 billion in 2010 for an increase of 9% after a choppy 2009.
- Sales are expected to increase 9.1% in 2011 and 6.5% in 2012.
- Catering at foodservice and drinking establishments generated 75% of the catering market size, or $11 billion, in 2010, up 8%.
- Limited-service restaurants are expected to lead catering sales growth through 2012 due to the segment’s ability to leverage moderate menu pricing structures, provide portable fare and offer in-house operations capabilities.
Source: Packaged Facts, Catering Trends in U.S. Foodservice; February, 2011