Planet Retail Report Highlights Strong Growth in Global Foodservice

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Planet Retail Report Highlights Strong Growth in Global Foodservice

NEW YORK -- Between 2005 and 2010, Planet Retail estimates that global foodservice sales will increase, on average, by 6 percent annually to $2,474 billion in 2010.

"This growth will be driven by increased outsourcing, more mobile lifestyles, economic recovery and more, albeit smaller, households underpinning an increase in restaurant visits," said Christiane Weinberger, Planet Retail Foodservice Analyst.

Three regions are principally behind the growth, namely North Ame rica, Europe and Asia Pacific, the report stated. Established markets in these regions will continue to show healthy growth rates, although the highest rates will be generated by new and emerging markets including the BRIC countries (Brazil, Russia, India and China).

Restaurants and fast food chains continue to launch healthier and more varied menus in response to more sophisticated consumer tastes. This has led to increased channel blurring. In addition, other trends include:

-- Channel diversification (foodservice operators seeking new channels to sell products)
-- Greater visibility of manufacturers' brands in foodservice offerings
-- Format innovations/refurbishments (often with a view to creating more variety)
-- Multi-branding (two or more restaurant concepts in a single location)
-- Satellite locations, with a streamlined menu
-- Fast casual dining (high quality, affordable food)

A copy of this report, Foodservice Trends Worldwide, 2006, is available from