NEW
YORK, June 17, 2024 /PRNewswire/ -- The global
catering services market size is estimated to grow by USD 68.9 billion from 2024-2028, according to
Technavio. The market is estimated to grow at a CAGR of 3.65%
during the forecast period. Increasing popularity of online
catering is driving market growth, with a trend towards marketing
initiatives. However, fluctuations in food commodity prices poses a
challenge. Key market players include Aramark, bartlett
mitchell Ltd., Caterlink Ltd., CH and Co Catering Group Ltd,
Delaware North Companies Inc., Deutsche Lufthansa AG, Dine Contract
Catering Ltd., DO and CO Aktiengesellschaft, DoorDash Inc., Elior
Group SA, Entier Ltd., Fairfax Meadow Europe Ltd., Fooditude Ltd.,
gategroup, ISS AS, Newrest Group International SAS, Pret A Manger,
rhubarb Food Design Ltd., SAVORY Inc, and The Emirates Group.
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segments, customer landscape, and companies - View the
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Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
Service (Contract
catering services and Concession catering services), Application
(Corporate catering, Wedding catering, Social event catering, and
Others), and Geography (APAC, North America, Europe, Middle East
and Africa, and South America)
|
Region
Covered
|
APAC, North America,
Europe, Middle East and Africa, and South America
|
Key companies
profiled
|
Aramark, bartlett
mitchell Ltd., Caterlink Ltd., CH and Co Catering Group Ltd,
Delaware North Companies Inc., Deutsche Lufthansa AG, Dine Contract
Catering Ltd., DO and CO Aktiengesellschaft, DoorDash Inc., Elior
Group SA, Entier Ltd., Fairfax Meadow Europe Ltd., Fooditude Ltd.,
gategroup, ISS AS, Newrest Group International SAS, Pret A Manger,
rhubarb Food Design Ltd., SAVORY Inc, and The Emirates
Group
|
Key Market Trends Fueling Growth
In the global catering services market, vendors employ
integrated marketing communication strategies. They utilize
channels like newspapers, magazines, and social media platforms,
including Twitter, Facebook/Instagram, Foursquare, and YouTube, to
showcase their offerings. Twitter offers real-time customer
engagement, while Facebook/Instagram reaches a diverse audience
through hashtags. Foursquare benefits food truck owners, and
YouTube provides a platform for informative and entertaining
videos. LinkedIn facilitates business-to-business conversations and
partnerships. These strategies contribute to the anticipated growth
of the catering services market.
The catering services market is experiencing significant growth,
with a focus on customizable menus and sustainable food options.
Food delivery services have become increasingly popular, especially
during the pandemic. Packages and contracts for corporate catering
are common, with companies seeking convenient and cost-effective
solutions.
The use of technology, such as mobile apps and online ordering
systems, is trending to streamline the ordering process.
Additionally, dietary restrictions and preferences are being
catered to, with vegan, gluten-free, and other specialized menus
becoming more common. Overall, the catering industry is adapting to
meet the changing needs of consumers and businesses.
Research report provides comprehensive data on
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Market Challenges
- The catering services market is significantly influenced by the
prices and availability of food commodities like sugar, grains,
meat, salt, vegetables, and dairy products. Adverse weather
conditions and natural calamities, such as droughts and floods, can
lead to shortages in raw materials, impacting market growth.
- Climate disparities and natural disasters can reduce crop
yields, leading to price fluctuations and increased production
costs for caterers. In a competitive market, caterers must maintain
low prices, making it essential to balance food prices and quality.
The unpredictability of food commodity prices poses a significant
challenge for foodservice operators.
- The catering services market faces several challenges in the
food industry. One major challenge is ensuring the quality and
consistency of food preparation and delivery. Another challenge is
meeting dietary restrictions and preferences of diverse
clientele.
- Additionally, competition from various food establishments and
the need to offer competitive pricing can be hurdles. Furthermore,
logistical issues such as transportation and storage of perishable
items can pose significant challenges. Lastly, adhering to food
safety regulations and maintaining a clean and hygienic environment
are essential for maintaining customer trust and satisfaction.
For more insights on driver and
challenges - Download a Sample Report
Segment Overview
- Service
- 1.1 Contract catering services
- 1.2 Concession catering services
- Application
- 2.1 Corporate catering
- 2.2 Wedding catering
- 2.3 Social event catering
- 2.4 Others
- Geography
- 3.1 APAC
- 3.2 North America
- 3.3 Europe
- 3.4 Middle East and
Africa
- 3.5 South America
1.1 Contract catering services- The Catering
Services Market experiences consistent growth due to the increasing
demand for convenient and high-quality food solutions. Businesses
and individuals frequently opt for catering services for various
events and meetings. This market is driven by factors such as time
savings, diverse menu offerings, and the ability to accommodate
large groups.
Companies prioritize catering services to enhance productivity
and focus on their core business activities. The market's growth is
also fueled by advancements in technology, which enable efficient
order processing and delivery. Overall, the Catering Services
Market is a thriving industry that caters to the diverse needs of
businesses and individuals.
For more information on market segmentation with
geographical analysis including forecast (2024-2028) and historic
data (2018 - 2022) - Download a Sample Report
Research Analysis
In the dynamic business landscape, catering services have
emerged as a vital component for various establishments and
institutions, including universities and commercial entities. These
services play a pivotal role in meetings, conventions,
celebrations, and events, providing hot food catering and
specialized catering packages. In-house chefs and third-party
businesses offer diverse cuisine options, ensuring a memorable
dining experience for corporate gatherings.
Food safety is a top priority, with establishments adhering to
stringent regulations to maintain the highest standards.
Outsourcing catering services offers convenience and flexibility,
catering to changing lifestyles and team-building activities.
Cooking, presentation, and serving are essential aspects of
catering, with businesses continually innovating to meet the
evolving needs of their clients.
Market Research Overview
The Catering Services Market encompasses a significant segment
of the Food and Beverage industry. This market caters to various
events and occasions, providing prepared and served food and
beverages. The market offers a wide range of services, including
corporate catering, social catering, and educational catering. The
use of technology in catering services has been on the rise, with
the implementation of mobile apps, online ordering systems, and
contactless delivery services.
Sustainability is a key trend in the catering services market,
with an increasing focus on using organic and locally sourced
ingredients. The market is expected to grow steadily due to the
increasing number of events and the rising demand for convenient
and high-quality food options. The market also faces challenges
such as increasing competition and the need to maintain food safety
and quality.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Service
-
- Contract Catering Services
- Concession Catering Services
- Application
-
- Corporate Catering
- Wedding Catering
- Social Event Catering
- Others
- Geography
-
- APAC
- North America
- Europe
- Middle East And Africa
- South America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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