Industrial Category to Dominate Global Catering Services Market through 2024
Growing hospitality sector and increasing commercialization
to drive global catering services market through 2024
According to TechSci Research
report, “Global Catering Services Market
By Type,
By End User, By Region, Competition, Forecast & Opportunities, 2024”,
global catering services market is projected to grow at a CAGR of over 5% during
2019-2024, on the back of increasing focus on wellbeing and health by several
hospitals, businesses, elderly care centers and educational institutions. Growing
popularity of home meal replacements and fresh food subscription services is expected
to drive global catering services market during forecast period.
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By end user, the market
has been categorized into industrial, hospitality, educational, healthcare,
in-flight and others. Among the end users, industrial category accounted for
majority of the global catering services market share in 2018. The industrial
category is further segmented into manufacturing, oil & gas, utilities and
mining. The oil & gas segment is the largest segment in global catering
services market. Expats working at construction and oil & gas sites are the
major revenue generators for catering companies in the Middle Eastern region.
Moreover, healthcare category is expected to witness healthy growth during the
forecast period, on account of increasing demand for meals that are categorized
into high calories, low fat/low sugar, or meals with certain excluded
ingredients, easily digestible, and chewable properties. Furthermore, in-flight
catering category is anticipated to register healthy growth, owing to increasing
number of airline passengers and growing expectations of passengers
irrespective of class of seating towards healthy nutritious food.
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“Constantly changing dynamics of the modern workforce
and insatiable appetite for different types of cuisines are some of the major
factors expected to aid global catering services market. The growing need for
hospitality and fine dining as a way of building relationships with clients and
a tool to develop business for entertaining guests is anticipated to result in growth
opportunities for players operating in global catering services over the course
of next five years.” said, Mr. Karan Chechi, Research Director with TechSci
Research, a research based global management consulting firm.
“Global Catering
Services Market By Type, By End User, By Region, Competition, Forecast
& Opportunities, 2024”
has evaluated the future growth potential of global catering services market and
provides statistics and information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities in global catering services market.
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