Catering Services Market to be Dominated by Contractual Catering During the Forecast Period
Increasing consumer choices for
customized meals based on preferences, growing importance of corporate
cultures, social lifestyles, social events, and celebrations are expected to
drive the growth of the global catering services market.
According to TechSci Research
report, “Catering Services Market–Global Industry Size, Share,
Trends, Competition, Opportunity, and Forecast, 2018-2028F,” the global
catering services market is being driven by companies offering customized menus
and dining experiences due to increasing concern for food safety among
corporate buyers and the demand for outsourcing catering services to a trusted
source. Moreover, increasing need for
industry players in the organized sector are the factors that are boosting the
demand of catering services across the globe during the forecast years.
Furthermore, the market for catering services is growing because of factors
including hectic lifestyles and difficulties associated with cooking at home.
Catering services describe a service
that delivers meals to a client's location and may also include preparing and
serving the food onsite. There are several options, from industrial or mobile
caterers to full-service caterers that prepare food, bring it, set it up, and
serve it at an event. Catering Services generally help two categories of
customers, business-to-business catering and consumers catering, in
business-to-business catering: this type of catering caters to clients who are
in the business, such as corporates, airlines, event planners, etc. Customers
of this category frequently place orders for daily catering and recurring
occasions like seminars, conferences, business gatherings, staff meetings,
presentations, company events, etc., and consumer catering includes catering
services offered to customers for special occasions, including weddings,
funerals, parties, and birthday celebrations, etc.
Catering services provide food to staff,
employees, guests, and customers. Educational institutions, businesses,
industries, hospitals, and event planners for large-scale gatherings, including
weddings, dinners, and parties, recruit contract caterers. Moreover, contractual
catering services benefit from enhanced client convenience, regulatory
requirements with food safety and hygiene standards, and increased caterer
liability. Hence, contract catering services have become one of the most
popular types of catering services.
Moreover, the adoption of catering
services is expanding. By offering more than just lunch to employees, many
companies use their dining services as an attraction.
To enhance employee happiness and
morale, businesses are offering discounted customized menus and dining
experiences to recruits driving up the market for catering services throughout
the globe. The growing emphasis on utilizing
technology to enhance customer experience and shorten wait times for food
reflects well the future trends for the catering services market. The new trend
in the global catering services industry is the drop-off service, which means
effortless, secure, touchless delivery. Companies work to choose the right menu
based on visitors' preferences before going over the procedures and tools
required to ensure that the order is delivered to the customer promptly,
freshly made, and of the highest quality.
Browse over XX market
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The global catering
services market is segmented based on services type, enduser, regional
distribution and competitive landscape.
Based on service type,
the market is divided into contractual catering and non-contractual catering, in
which contractual catering is dominating as it offers customized menu offerings
and promotional offers.
The market analysis also
studies the enduser segmentation divided among healthcare, hospitality,
corporates, education, in-flight, and others (holy sites, events, railways,
defense, etc.).
Key market players in the global
catering services market include:
- Compass Group plc
- Sodexo S.A.
- Aramark Corporation
- ISS Facility Services Inc.
- AVI Foodsystems, Inc
- Jones Lang LaSalle IP, Inc.
- Mitie Group plc
- Cushman & Wakefield plc
- DO & CO Aktiengesellschaft
- Elior Group S.A.
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“The market for
catering services is growing due to rising demand from high-income households
and businesses, consumers spending more money on parties and other catered
events, and businesses relaxing budgets in line with higher corporate profits.
Additionally, the development of technology to enhance customer experience and
shorten the time spent waiting for food is boosting the global demand for
catering services.” said Mr. Karan Chechi, Research Director with TechSci
Research, a research-based global management consulting firm.
“Catering Services Market –
Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F, Segmented
By Services Type (Contractual, Non-Contractual), By End User (Healthcare,
Hospitality, Industries, Corporates, Education, In-Flight and Others (Holy
Sites, Events, Railways, Defense, etc.), By Region,” has evaluated the future growth
potential of catering services in the global market and provides statistics and
information on market structure, size, share, and future growth. The report is
intended 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 present in the global catering services market.
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