Global catering
services market stood at $ 130 billion in 2018 and is projected to grow at a
CAGR of more than 6% during the forecast period to cross $ 205 billion by 2024,
on account of increasing emphasis on the adoption of technology to improve
customer experience and reduction in the time spent waiting for food. Catering
is the business of providing food service at a remote site or a site such as a
hotel, hospital, pub, aircraft, cruise ship, park, filming site or studio,
entertainment site, or event venue. Rising demand from high-income households
and businesses would aid global catering services market, with consumers
spending more money on parties and other catered functions along with loosening
corporate budgets in line with stronger corporate profit.
In terms
of type, global catering services market has been categorized into contractual catering services and non-contractual
catering services. Of these two categories, contractual catering services
segment accounted for the largest market share in 2018 and is expected to
continue its market dominance during forecast period. Constantly changing
dynamics of the modern workforce and insatiable appetite for different types of
cuisines are some of the major factors anticipated to aid the leading position
of contractual catering services segment. Moreover, contractual catering services
segment is likely to be driven by the introduction of various offers such as
limited time menu offerings and promotional offers.
Asia-Pacific
dominated global catering services market in 2018, followed by North America
and Europe. The Asia-Pacific region is expected to maintain its dominating
position in the global catering services market during the forecast period. China,
India, Japan, Mexico, Australia and Canada are likely to emerge as the
potential growth market for catering in coming years.
Global catering
services market is consolidated with five major players accounting for the majority
share. The leading vendors are investing in the expansion of their
international presence and creating strong brand images for their services. Increasing
number of mergers and acquisitions is one of the major trends being witnessed
in global catering services market. Market players are engaging in merger and acquisition
activities to diversify their service portfolio, penetrate new markets,
increase their market share, reduce financial costs, and achieve economies of
scale.
Years considered for this report:
Historical
Years: 2014-2017
Base Year: 2018
Estimated Year:
2019
Forecast Period:
2020–2024
Objective of the Study:
- To analyze
and forecast global catering services market size.
- To
classify and forecast global catering services market based on type, end user and regional distribution.
- To
identify drivers and challenges for global catering services market.
- To
examine competitive developments such as expansions, new product launches,
mergers & acquisitions, etc., In global catering services market.
- To
conduct the pricing analysis for global catering services market.
- To
identify and analyze the profile of leading players operating in global
catering services market.
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Some of
the major players in global catering services market are Aramark, Compass Group
PLC, DO & CO, Elior Group, Cushman & Wakefield, GateGroup, Newrest,
Sodexo, WSH, ABM Catering Solution, SV Group, etc.
TechSci Research
performed both primary as well as exhaustive secondary research for this study.
Initially, TechSci Research sourced a list of service & solution providers
across the globe. Subsequently, TechSci Research conducted primary research
surveys with the identified companies. While interviewing, the respondents were
also enquired about their competitors. Through this technique, TechSci Research
could include the service & solution providers which could not be
identified due to the limitations of secondary research. TechSci Research
analyzed the service offerings, distribution channels and presence of all major
service & solution providers across the globe.
TechSci Research calculated global catering services market size
using a top down approach, where
data for various application across various end-user segments was recorded and
forecast for
the future years was made. TechSci Research sourced these values from the
industry experts and company representatives and externally validated through
analyzing historical data of these product types and applications for getting
an appropriate, overall market size. Various secondary sources such as company
websites, news articles, press releases, company annual reports, investor
presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
- Catering service & solution providers
- Catering service vendors
- Organizations, forums and alliances related to catering services
maket
- Government bodies such as regulating
authorities and policy makers
- Market research and
consulting firms
The study is useful in
providing answers to several critical questions that are important for the
industry stakeholders such as service & solution providers and partners,
end users, etc., besides allowing them in strategizing investments and
capitalizing on market opportunities.
Report Scope:
In this report, global catering
services market has been segmented into following categories, in addition to
the industry trends which have also been detailed below:
- Market, by Type
- Contractual
- Non-Contractual
- Market, by End
User
- Industrial
- Hospitality
- Educational
- Healthcare
- In-Flight
- Others
- Market, by Region
- Asia-Pacific
- China
- India
- Japan
- Australia
- South Korea
- Thailand
- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- United Kingdom
- Russia
- France
- Italy
- Spain
- Middle East & Africa
- UAE
- Saudi Arabia
- Iran
- South Africa
- South America
- Brazil
- Argentina
- Colombia
Competitive Landscape
Company
Profiles: Detailed analysis of the major companies present in global catering
services market.
Available
Customizations:
With the given market data, TechSci
Research offers customizations according to a company’s specific needs. The
following customization options are available for the report:
Company
Information
- Detailed analysis and profiling of
additional market players (up to five).
Profit Margin Analysis
- Profit margin analysis in case of direct
and indirect sales channel.
In case you don’t find what
you are looking for, please get in touch with our custom research team at sales@techsciresearch.com