Report Description

The global catering services market is expected to grow during the forecast period owing to urbanization and changing lifestyles. There has been a change in the demand for catering services in recent years, supported by the quickly developing business-to-business (B2B) events sector and food and beverage services being offered at a growing number of corporate events. Furthermore, the market for catering services is growing because of factors including hectic lifestyles and difficulties associated with cooking at home. Also, hotels and restaurants are coming up with innovative catering services, which is expected to fuel the catering service industry.

 

The business of catering services involves supplying food services at distant locations or events like weddings, corporate meetings, parties, and conferences, among others. These services are also well-adopted across colleges, schools, and corporate offices through their in-house cooking staff or a third-party source. Contractual catering services have a significant market share for revenue generation in the catering services market.

According to research and database, there are 39,365 caterers currently employed in the United States, among which 57% are women and 43% are men. The average age of the employees is 36 years which will grow in the forecast period and boost the demand for catering services.

 

Increase in Demand for Healthier Fresh Food Among Consumers is Fueling the Market Growth

The growing preference among customers for fresher, healthier foods is boosting the worldwide catering services market. The catering service operators have shifted their emphasis to providing healthier meals made in-house using fresh ingredients. The market is expanding because of the increased focus on implementing technology to enhance the customer experience and minimize time spent waiting for food. Specialized catering services are  increasing in demand as global multinational corporations quickly expand in emerging regions. Due to the worldwide trend of rising health consciousness, catering businesses now provide healthy dining options such as organic meals, a balanced vegan diet, and healthy snacks. The market for catering services is further fueled by the increasing demand for locally produced fresh farm produce, including fruits, vegetables, and meat items.

Demand for International Cuisine Among Urban Population Drives the Market Growth

. Because of their exposure to many cultures and lifestyles, consumers worldwide are experimenting with new cuisines, creating a growth opportunity for the global  catering industry. Due to the growing popularity of on-the-go foods among their working populations, many industrialized and developing nations are observing an increase in the popularity of mobile food service providers. Moreover, the global catering services industry is being supported by evolving nutritional preferences, changing lifestyles, increased urbanization, and an increase in nuclear families.

 

Rising Culture of On-Site Catering Driving the Market growth

On-site catering benefits all big construction companies, corporate offices, hospitals, educational sector, etc. As more sectors utilize catering to attract the employers, the market for catering services is growing. To recruit and keep talent, many companies are promoting their dining services as a benefit by offering something more than just a meal. Companies are increasingly providing customized menus and dining experiences to the staff at discounted rates to raise employee happiness and morale. Such a comprehensive dining experience promotes social eating among staff members and helps them feel a part of the business. This, as a result, is giving rise to many catering companies and boosting the global catering services market.