How Global Catering Services And Food Contractors Market Players Should Strategize For 2022-2031

4 Jan, 2022

The global catering services and food contractors market is expected to grow from $187.64 billion in 2021 to $275.90 billion in 2022 at a compound annual growth rate (CAGR) of 47%. The growth in the catering services and food contractors market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The catering services and food contractors market is expected to reach $378.39 billion in 2026 at a CAGR of 8.2%.

What is the Global Catering Services And Food Contractors Market?

The catering services and food contractors market consists of sales of single event-based food services or food services at institutional, governmental, commercial, or industrial locations of others based on contractual arrangements with these types of organizations for a specified period of time by entities (organizations, sole traders and partnerships) that provide single event-based food services or food services at institutional, governmental, commercial, or industrial locations of others based on contractual arrangements with these types of organizations for a specified period of time.

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What drives the Global Catering Services And Food Contractors Market?

The catering services and food contractors market growth is aided by stable economic growth forecasted in many developed and developing countries. Recovering commodity prices, after a significant decline in the historic period is further expected to aid the market growth. Developed economies are also expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than the developed markets in the forecast period. For instance, according to Reserve Bank of India, India's GDP is expected to grow at 9.5% during the year 2022, whereas China is forecasted to register GDP growth of 5.5% in 2022. Stable economic growth is expected to increase the demand for services offered by this industry, thereby driving the market during forecast period.

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Global Catering Services And Food Contractors Market Segments
The global catering services and food contractors market is segmented:
By Type: Food Service Contractors, Catering Services
By Ownership: Chained, Standalone
By Geography: 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, and Africa. Among these regions, Western Europe accounts for the largest share in the global catering services and food contractors market.

Catering Services And Food Contractors Global Market Report 2022provides market size and growth forecasts for the global catering services and food contractors market, global catering services and food contractors market share, catering services and food contractors market segments and geographies, catering services and food contractors market competitive landscape including leading competitors’ revenues, profiles and market shares. The catering services and food contractors market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

Global Catering Services And Food Contractors Industry Playersinclude Compass group plc, Sodexo, Aramark corporation, Elior Group, Autogrill SpA, SSP Group plc, Lufthansa Group, DO & CO AG, Samsung C&T Corporation and Thompson Hospitality. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.