Global Catering Services And Food Contractors Market Size 2024, Forecast To 2033
11 Mar, 2024
The catering services and food contractors market size has exhibited robust growth, escalating from $286.33 billion in 2023 to $303.16 billion in 2024, representing a compound annual growth rate (CAGR) of 5.9%. The growth observed in the historic period can be attributed to strong economic growth in emerging markets, an increased preference for healthy food in the workplace, and a rise in the tourism industry. Looking forward to 2028, the market is poised for strong growth, reaching $388.29 billion with a CAGR of 6.4%. The anticipated growth in the forecast period is associated with rising populations and increased urbanization. Key trends in this period involve the adoption of intelligent methods such as artificial intelligence, the consideration of offering food products made from natural ingredients free of GMOs and artificial flavors or colors, geographical expansion, and new service launches aimed at improving product portfolios and revenues.
Global Catering Services And Food Contractors Market Key Driver
The catering services and food contractors market's growth is bolstered by stable economic growth forecasts in many developed and developing countries. Following a significant decline in commodity prices in the historical period, the market is expected to benefit from recovering prices. Stable economic growth is projected in developed economies, with emerging markets anticipated to grow slightly faster than their developed counterparts. For example, India's GDP is forecasted to grow at 9.5% in 2022, according to the Reserve Bank of India, while China is expected to register a GDP growth of 5.5%. This stable economic outlook is set to increase the demand for services within the catering industry, driving market growth during the forecast period.
Get A Free Sample Of The Global Catering Services And Food Contractors Market ReportGlobal Catering Services And Food Contractors Market Segments
The catering services and food contractors market covered in this report is segmented –
1) By Type: Food Service Contractors, Catering Services
2) By Ownership: Chained, Standalone
3) By Application: Corporate, Educational Institutions, Healthcare, Industrial, Hospitality Services, Sports And Leisure and Other Applications
By Geography:The regions covered in the catering services and food contractors market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa
Western Europe was the largest region in the catering services and food contractors market in 2023. North America was the second largest region in the catering services and food contractors market. The regions covered in the catering services and food contractors market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Catering Services And Food Contractors Industry Players
Compass Group PLC, Sodexo, Inc, Aramark Corporation, Elior Group S.A, Autogrill S.p.A, Samsung C&T Corporation, Deutsche Lufthansa AG, Subway, SSP Group plc, DO & CO Aktiengesellschaft, Shanghai Wagas Catering Co., Ltd, Yum China Holdings Inc, Chefs Culinar Nord GmbH & Co KG, BaxterStorey, Kofler & Kompanie GmbH, Searcys, Bun Apetit Catering, Gaspar's, Kyiv Catering, Premier Catering, Resto-Rators, jezeršek catering, Wolfgang Puck Catering, CulinArt Group, Oliver & Bonacini Events and Catering, Encore Catering, Presidential Gourmet, Sapore, Nutriplus Alimentação, Banquetería Santa Brasa, Middle East, Emirates Flight Catering, Royal Catering, Qatar Aircraft Catering Company, Sawhney Foodstuff Tr.Co.LLC., Saudi Airlines Catering, Gulf Catering Company, Tsebo Solutions Group, Feedem Group, Food Concepts PLC, Meikles Limited, Ghada Nawara, Servest Catering
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Catering Services And Food Contractors Market Overview
Catering refers to a service that provides meal delivery to a client's location and may also prepare and serve the food there. Food contractor refers to any individual who, in accordance with a food service contract, engages or maintains staff to offer on-site food services at a company location.
Catering Services And Food Contractors Global Market Report 2023 provides data on the global catering services and food contractors market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The catering services and food contractors market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.