Overall sales in the foodservice equipment and supplies industry rose 15.4 percent in Q3 2021 but fell short of forecasts, according to the latest Manufacturers’ Agents Association for the Foodservice Industry (MAFSI) Business Barometer.
MAFSI had anticipated a 20.7 percent growth for the quarter, but noted that supply and demand in the industry is still out of balance as waves of COVID-19 variants continue to impact pricing and availability. “This imbalance is exacerbated by advance ordering in an attempt to beat price increases and doubling up of stock order to lock in delivery positions effected by long lead times,” MAFSI said.
The tabletop segment led Q3 with 19.4 percent growth, followed by equipment (15.7 percent) supplies (13.2 percent) and furniture (8 percent). By region, the Midwest saw the largest growth (17.5 percent) followed by the West and Northeast (15.9 percent each), the South (14.9 percent) and Canada (10.6 percent).
Going forward, MAFSI anticipates that the industry will return to historic growth rates of 2 to 5 percent once manufacturing capabilities expand and backlogs decrease. For 2022, the association is forecasting 11.3 percent growth.
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