Technomic, a leading market analytical company has updated forecasts for the food service sector in 2020 and 2021.  Their "middle case" projection indicates that the food service industry will grow by 21 percent in 2021 following the COVID-related contraction in 2020.  Despite the recovery, sales will be 11 percent lower in 2021 compared to 2019 before the advent of COVID. 

Joe Pawlak, Managing Principal at Technomic stated, "few industries have felt the repercussions of the COVID-19 pandemic quite like food service".  He added, "restrictions are wreaking havoc especially on the segments that depend on in-store dining".  He predicted that a complete recovery will take a number of years and his company will continually update trends and forecasts. 

Technomic expects food service to collectively loose between $250 billion and $300 billion in sales in 2020 compared to the previous year.  As with all industries and sectors of the economy, complete recovery will only follow effective control of COVID-19.  This will depend on universal adoption of protective measures (masking, social distancing, hygiene) coupled with a high level of administration of an effective and safe vaccine.

 Subscribers are referred to recent postings on the financial performance of Sysco, Aramark, US Foods and other companies that are reporting a 30-50 percent decline in sales with significant losses.  The more progressive companies within the sector that have been forced to adapt to the realities of COVID following closure of universities, schools, full-service dining and cooperate catering.