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.
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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.