The global Catering Services market reached a value of about USD 540.06 billion in 2021. The industry is projected to grow at a CAGR of around 4.5% in the forecast period of 2022-2027 to reach a value of about USD 703.29 billion by 2027.
The global Catering Services industry report gives a comprehensive analysis of the industry, including key segments, trends, drivers, restraints, the competitive landscape, and other essential market aspects. The market is being propelled by the FDA's strict guidelines and regulations to monitor and manage the quality and standards of the food being served, paired with the rising popularity of online catering. The key demand indicator is the highest category spender in the industry report by region—Europe and North America.
Catering is the business of serving meals for large-scale events such as meetings, conferences, parties, and other get-togethers at a remote location or a location such as a hotel, hospital, bar, aeroplane, cruise ship, park, filmmaking location or studio, entertainment location, or event venue. They either have their in-house culinary team or have hired a third party to supply the cuisine. The Catering Services industry report comprises segments by application (Primary Cooking, Refrigeration & Ice Machines, Storage & Handling, Serving Equipment, Food Preparation, Warewashing & Sanitation) and region (North America, Europe, Asia Pacific, the Middle East, and Africa, and South America).
The North American and European regions account for the largest share in the industry due to the presence of major key players.
The market is being propelled by the growing health and safety-related concerns regarding food. The FDA has tightened its guidelines and regulations for managing the quality and standards of food served due to recent food safety furthering the market growth. Foodservice operators have been focusing on offering healthier meals prepared from fresh ingredients in the location's kitchen and decreasing their reliance on frozen, pre-prepared foods in response to a growing demand for new and healthy food among corporate buyers, boosting the sector's sales. Significant corporate expenditure is the primary driver of order in the foodservice business. Major customers want to go beyond merely providing catering services to their employees and create a dining experience that boosts employee satisfaction and morale by implementing innovative menu and dining alternatives from specialist caterers.
However, the high expense of ensuring uniformity and sanitation of food products by employing a considerable labour force is hampering the industry's expansion.
The global Catering Services industry report by Procurement Resource gives an in-depth analysis of the best buying practices followed by major global Catering Services regions, such as engagement models, contract terms, and buyer and supplier negotiation levers.
A catering business may employ its cooks or purchase food from a contractor or third party and deliver it to the client. Waiters, waitresses, and busboys are frequently dispatched to prepare tables and serve meals during sit-down dining occasions. The caterer may send personnel to put up chafing dishes, bowls, and platters full of food, replace them, and serve food to guests during buffets and casual parties. A manager will often direct the wait staff and supporting personnel at banquet hall events and wedding receptions, such as coat check people. A salesperson assists the customer in selecting food, location, and decorations that are within his budget and setting up the billing mechanism before the event.
The fast expansion of global multinational corporations in emerging markets has increased the demand for specialised catering services. Suppliers are enhancing their supply capabilities while implementing performance-based criteria for assessment and performance monitoring, boosting industry growth. Suppliers are also strengthening their supply capabilities and evaluating and monitoring their performance using performance-based standards. Implementing technology is becoming increasingly important to improve the customer experience and minimise time spent waiting for food. Online catering allows customers to choose meal items from a menu on a website and then make an order. Customers may also create personal profiles on these internet channels, saving their preferences and making buying easier. This assists merchants in marketing new items to generate recurring sales.
The regional markets for the industry can be divided into Europe, North America, the Asia Pacific, South America, and the Middle East and Africa.
As more organisations target specialised consumer groups, the global catering services industry becomes increasingly competitive. Through mergers and acquisitions and collaborations with local vendors, international suppliers actively expand their footprint in these regions. Businesses in the Catering Services industry are becoming increasingly engaged with beginning tactics such as targeted marketing, CSR initiatives, and increasing their global significance. A striking tendency that can be seen across the board is that these businesses are now aiming to handle a specific business-related activity in a nation with favourable legislation. As a result, many organisations can save expenses while still employing industry experts at every critical juncture of their operations. Authorities in developing nations such as India, China, Taiwan, and Indonesia, among others, are pursuing policies to entice foreign investors into their manufacturing sectors by cutting trade taxes and levies to create more employment.
1. Executive Summary
2. Global Catering Services Market Snapshot
2.1. Catering Services Market Outlook
2.2. Catering Services Industry Analysis by Application
2.2.1. Primary Cooking
2.2.2. Refrigeration & Ice Machines
2.2.3. Storage & Handling
2.2.4. Serving Equipment
2.2.5. Food Preparation
2.2.6. Warewashing & Sanitation
2.3. Regional Overview
2.3.1. North America
2.3.3. Middle East and Africa
2.3.4. Asia Pacific
3. Impact of Recent Events
4. Catering Services Value Chain Analysis
5. Trade Analysis
6. Major Risk Factors in Sourcing
7. Catering Services Cost Structure
8. Key Demand Indicator Analysis
9. Key Price Indicator Analysis
10. Catering Services Market Dynamics
10.1. Drivers & Constraints
10.2. Industry Events
10.3. Innovations & Trends
10.4. SWOT Analysis
10.5. Porter’s Five Forces
10.5.1. Buyer Power
10.5.2. Supplier Power
10.5.3. Threat of New entrants
10.5.4. Threat of Substitutes
10.5.5. Industry Rivalry
11. Industry Best Practices
11.1. Sourcing Strategy
11.2. Procurement Model
11.3. Contract Structure
11.4. Negotiation Levers
11.5. Pricing Model
11.6. Key Factors Influencing the Quotation
12. Key Supplier Analysis
12.1. Compass Group plc
12.3. ISS A/S
12.4. Aramark Corporation
The global Catering Services market size was valued at USD 540.06 billion in 2021.
As per the end-use provided, the BFSI, Oil and Gas segment is anticipated to lead the market between the period 2022 – 2027.
The significant demand for catering services in the corporate sector is one of the essential drivers of the Catering Services market growth.
Compass Group plc, Sodexo S.A, Aramark Corporation (NYSE: ARMK), AVI Foodsystems, Inc, ISS Facility Services Inc., and Mitie Group plc are some of the leading players in the market.
The Europe and North America region of the Catering Services industry holds a significant share in the market.
The global Catering Services market reached USD 540.06 billion in 2021, driven by the rising demand for catering services in corporate settings. Furthermore, the stringent food safety guidelines by the FDA are furthering the need for fresh and healthy food services. In addition, the fast expansion of global multinational corporations in emerging markets has increased the demand for specialised catering services. Market trends such as performance monitoring, online catering, etc., are likely to provide new growth opportunities. The market is expected to witness further growth in the forecast period of 2022-2027, growing at a CAGR of 4.5%. The market is projected to reach USD 703.29 billion by 2027.
Procurement Resources' detailed research approach explores deep into the industry, encompassing the macro and micro aspects of the industry. Its team of experts uses cutting-edge analytical tools and their expertise, thus, delivering its customers with market insights that are accurate actionable and help them remain ahead of their competition. Some of the leading players in the industry are Compass Group plc, Sodexo S.A, Aramark Corporation (NYSE: ARMK), AVI Foodsystems, Inc, ISS Facility Services Inc., Mitie Group plc.
At Procurement Resource our analysts are selected after they are assessed thoroughly on having required qualities so that they can work effectively and productively and are able to execute projects based on the expectations shared by our clients. Our team is hence, technically exceptional, strategic, pragmatic, well experienced and competent.
We understand the cruciality of high-quality assessments that are important for our clients to take timely decisions and plan strategically. We have been continuously upgrading our tools and resources over the past years to become useful partners for our clientele. Our research methods are supported by most recent technology, our trusted and verified databases that are modified as per the needs help us serve our clients effectively every time and puts them ahead of their competitors.
Our team provides a detailed, high quality and deeply researched evaluations in competitive prices, that are unmatchable, and demonstrates our understanding of our client’s resource composition. These reports support our clientele make important procurement and supply chains choices that further helps them to place themselves ahead of their counterparts. We also offer attractive discounts or rebates on our forth coming reports.
Our vision is to enable our clients with superior quality market assessment and actionable evaluations to assist them with taking timely and right decisions. We are always ready to deliver our clients with maximum results by delivering them with customised suggestions to meet their exact needs within the specified timeline and help them understand the market dynamics in a better way.
Email Delivery Price: $ 999.00
The global Artificial Intelligence market reached a value of about USD 192 Billion in 2021. The industry is projected to grow at a CAGR of around 23% in the forecast period of 2022-2027 to reach a value of about USD 664.86 Billion by 2027.Read More
Email Delivery Price: $ 999.00
The global nutmeg market reached a value of about 130 thousand tonnes in 2021. The industry is further expected to grow at a CAGR of about 6% in the forecast period of 2022-2027 to reach a value of around 180 thousand tonnes by 2027.Read More
Email Delivery Price: $ 999.00
The global HEOR market reached a value of about USD 1364.3 million in 2021. The industry is further expected to grow at a CAGR of about 12.81% in the forecast period of 2022-2027 to reach a value of around USD 2779.2 million by 2027.Read More