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