Inflation is threatening to stall the ongoing recovery of the US foodservice sector, and that could have significant implications for seafood suppliers.
Americans spend in excess of $100 billion (€99 billion) annually on seafood at foodservice and retail establishments. Measured by dollar sales, two-thirds of that spending occurs in restaurants and other away-from-home outlets.
The critical importance of the foodservice sector was made clear in 2020 during the height of the global COVID pandemic when the restaurant sector was effectively shut down, leading to the closure of between 70,000 - 100,000 restaurants, depending on whose estimates you use.
