The U.S. foodservice equipment industry was valued at $35.97 billion in 2023 and is projected to grow at a compound annual rate of 7.1 percent through 2030, according to projections from Grand View Research. But decreasing customer traffic and softer sales this year have made restaurant operators wary. Monthly surveys from the National Restaurant Association have shown that operators are generally pessimistic about the market in 2024, with many planning to hold off on equipment purchases, remodels and facility expansions until economic conditions improve. That gap between sales projections and customer outlooks makes it a critical time to review the industry’s progress in recent years and where it is headed.
This year, the FEDA Annual Executive Leadership Conference will open with two presentations by industry leaders who are navigating the ever more complex industry landscape: Eric Boelter, president of The Boelter Companies, and Lucy McQuillan, president of Alto-Shaam. Boelter and McQuillan will share their thoughts on the state of the foodservice equipment industry by providing a dealer and a manufacturer perspective on various economic pressures, supply chain disruptions, mergers and acquisitions, and other events that are reconstructing the industry and altering how companies operate.
Many of those topics point to barriers the foodservice equipment and supplies industry has encountered in recent years, but for every obstacle, there are also new opportunities arising. Boelter’s presentation will address several issues important to dealers, including where there is potential for growth and what might propel the next wave of change. Among other topics, McQuillan will cover how changing operator expectations are influencing equipment design and what other trends are driving equipment demand.
The State of the Industry Reports will set the stage for the general session presentations to follow, which Boelter and McQuillan will also emcee. Those sessions will focus more closely on the supply chain, the regulatory environment for businesses and the upcoming U.S. elections. Similarly, the conference’s Tech Talks and Industry Roundtable discussions will tap into Boelter and McQuillan’s insights as a foundation for those discussions.