What’s Ahead For 2022?
Here’s what Industry experts are saying……
The surge in the Omicron variant in the latter part of December 2021, and the resulting restrictions in on-premise dining, are projected to weigh down foodservice sales in the first quarter of 2022. While the Omicron variant will continue to disrupt consumer spending at restaurants in Q1 2022, the downturn is expected to be short lived. (Restaurants Canada)
The Industry’s recovery isn’t going to be a straight line moving upward on the nearly 2 years of the pandemic so far – its going to be ‘bumpy.’ That said, restaurant traffic should recover 98% of 2019 visits by the end of 2022. (The NPD Group)
In 2022, US Restaurant sales forecast are projected to reach $898 billion (National Restaurant Association). The annual projection is about 11% below pre-pandemic inflation-adjusted dollars, but trajectory improves amid more off-premises technology, staff shortages & streamlined menu’s. The global foodservice industry is projected to reach $4.1T by 2026 and grow at CAGR of 5.4% – Canada is forecast to grow at 4.3% over the analysis period. (Global Market Trajectory Report)