Catering Services Market size to increase by USD 104.92 Bn| Research Insights highlight Increasing Popularity of Online Catering as Key Driver | Technavio

NEW YORK, Nov. 15, 2021 /PRNewswire/ — According to the research report «Catering Services Market – Forecast and Analysis Report…

NEW YORK, Nov. 15, 2021 /PRNewswire/ — According to the research report «Catering Services Market – Forecast and Analysis Report 2021-2025«, the market is expected to have a YOY growth rate of 2.12% in 2021 and is expected to grow at a CAGR of 4.45% between 2020 and 2025. The report segments the market by service (contract catering services and concession catering services) and geography (APAC, North America, Europe, MEA, and South America).

APAC is the largest market for catering services. Offices, businesses, and corporations generally contract catering services to provide food, and growing preference to dine in the office is expected to increase contract catering services revenues in the region. In addition, hectic lifestyles have further created opportunities for on-the-go foods in the region, in turn, creating significant growth opportunities for catering service providers in APAC.

View Sample: to know additional highlights and key points on various market segments and how they will impact in coming years.

Vendor Insights

The global catering services market is fragmented in nature due to the presence of several global and regional players.

The market players are deploying growth strategies such as focusing on innovations and customization in food menus to compete in the market. Some vendors are also adopting inorganic growth strategies such as M&As to remain competitive in the market. 

CH and Co Catering Group Ltd.– In September 2020, the CH and Co Catering Group Ltd. announced the partnership with Gather and Gather as the latest franchisee at Oxford Brookes University.

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

  • Aramark Corp.
  • bartlett mitchell Ltd.
  • CH and Co Catering Group Ltd.
  • Delaware North Companies Inc.
  • Deutsche Lufthansa AG
  • Dine Contract Catering Ltd.
  • DO & CO Aktiengesellschaft
  • DoorDash Inc.
  • Elior Group SA
  • The Emirates Group

Find additional highlights on the growth strategies adopted by vendors and their product offerings. Read Sample Market Research Report.

Geographical Market Analysis

APAC will provide maximum growth opportunities in the catering services market during the forecast period. According to our research report, the region currently holds 45% of the global market growth share and is expected to dominate the market through 2025.

In addition, countries such as the US, China, Japan, France, and Germany are expected to emerge as prominent markets for catering services during the forecast period.

Key Segment Analysis

The contract catering services led the market in 2020 and will continue to dominate the market growth during the forecast period. The advantage of contract catering services is increased accountability from the caterer, convenience for customers, and regulatory compliance with food hygiene and safety requirements. Hence, contract catering services have become one of the most popular types of catering services.

Know more about this market’s geographical distribution along with the detailed analysis of the top regions. https://www.technavio.com/report/catering-services-market-industry-analysis

Key Market Drivers, Trends & Challenges:

The increasing popularity of online catering is one of the major factors driving the growth of the catering services market size. Online catering enables consumers to select food items from the prescribed menu on the website and subsequently place an order. Also, these online channels allow customers to create personal accounts to make future ordering convenient as these accounts record customers’ preferences. This helps vendors to market new products for generating repeated sales. As a result, online ordering platforms are used as an effective marketing tool to promote products and drive sales by enabling customers to place orders quickly and easily.

The report identifies the marketing initiatives supporting the catering services market share growth as one of the key trends. Vendors operating in the global catering services market are focusing on using integrated marketing communication and other advertisement channels including newspapers, magazines, and social media platforms, such as YouTube and Facebook, to promote their services. These innovating and advanced communication channels are helping the vendors in upscaling the marketing strategy of catering services and their outlets.

The fluctuation in food commodity prices will emerge as a major challenge for the catering services market growth. As the global catering services market is driven by price competition and product differentiation, maintaining a balance between food prices and quality is very important for catering companies. In a highly competitive market, caterers must maintain low prices irrespective of production costs to attract and retain consumers.

View free sample for highlights on market Drivers, Trends & Challenges affecting the catering services market.

Catering Services Market Value Chain Analysis

The value chain of catering services includes the following core components:

  • Inputs
  • Inbound logistics
  • Operations
  • Outbound logistics
  • Marketing and sales
  • Service
  • Support activities
  • Innovation

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Catering Services Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 4.45%

Market growth 2021-2025

USD 104.92 billion

Market structure

Fragmented

YoY growth (%)

2.12

Regional analysis

APAC, North America, Europe, MEA, and South America

Performing market contribution

APAC at 45%

Key consumer countries

US, China, Japan, France, and Germany

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Aramark Corp., bartlett mitchell Ltd., CH and Co Catering Group Ltd., Delaware North Companies Inc., Deutsche Lufthansa AG, Dine Contract Catering Ltd., DO & CO Aktiengesellschaft, DoorDash Inc., Elior Group SA, and The Emirates Group

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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