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Catering Services And Food Contractors Global Market Report 2023

Catering Services And Food Contractors Global Market Report 2023
  • Publish Date:April 2023

  • Number of Pages:300

  • Report ID:6193679

  • Format:PDF

  • Publisher:The Business Research Company

$ 4000

Summary

Major companies in the catering services and food contractors market include 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.

The global catering services and food contractors market grew from $269.19 billion in 2022 to $281.49 billion in 2023 at a compound annual growth rate (CAGR) of 4.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The catering services and food contractors market is expected to grow to $330.98 billion in 2027 at a CAGR of 4.1%.

The catering services and food contractors market includes revenues earned by entities by providing single event-based food services or food services at an institutional, governmental, commercial, or industrial location of others based on contractual arrangements with these types of organizations for a specified period of time.The market value includes the value of related goods sold by the service provider or included within the service offering.

Only goods and services traded between entities or sold to end consumers are included.

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.

Western Europe was the largest region in the catering services and food contractors market in 2022.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 and Africa.

The main types of catering services and food contractors are food service contractors and catering services.Catering services is the business of providing food service at a remote location or at a specific location, such as a hotel, hospital, pub, airline, cruise ship, park, filming location or studio, entertainment location, or event venue.

The services are owned by chained and standalone entities and provided for applications such as tourist accommodation, and official business.

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 historical period, are further expected to aid the market’s 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 developed markets in the forecast period.

For instance, according to the 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 the forecast period.

The outbreak of COVID-19 disease (COVID-19) has acted as a massive restraint on the catering services and food contractors’ market in 2020 as governments globally imposed restrictions on domestic and international travel, limiting the need for services offered by these establishments.COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing.

The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China and has spread globally, including Western Europe, North America, and Asia. Steps by national governments to contain the transmission have resulted in a decline in economic activity with countries entering a state of "lock down." The outbreak has had a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the catering services and food contractors’ market will recover from the shock over the forecast period as it is a "black swan" event and not related to ongoing or fundamental weaknesses in the market or the global economy.

Food catering companies are forming alliances to serve food to schools, colleges, and universities.They are also involved in the development of mobile apps that provide tailored food options to meet the needs of each individual.

For instance, in March 2021, Sodexo, the foodservice and facilities management company, announced a partnership with HelloFresh, the meal kit leader, to deliver HelloFresh and EveryPlate meal kits to students at more than 300 colleges and universities in the United States.Students can pre-select, order, and schedule meal kits for delivery using Sodexo’s BiteU app.

Whether students are vegetarian, on a low-calorie diet, or looking for something quick and easy, HelloFresh allows them to choose from a varied and changing weekly menu. EveryPlate is a rotating menu of simple and affordable chef-curated recipes, including vegetarian and gourmet options.

The countries covered in the catering services and food contractors market report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The catering services and food contractors market research report is one of a series of new reports that provides catering services and food contractors market statistics, including catering services and food contractors industry global market size, regional shares, competitors with a catering services and food contractors market share, detailed catering services and food contractors market segments, market trends and opportunities, and any further data you may need to thrive in the catering services and food contractors industry. This catering services and food contractors market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Table of contents

1. Executive Summary

2. Report Structure

3. Catering Services And Food Contractors Market Characteristics
3.1. Market Definition
3.2. Key Segmentations

4. Catering Services And Food Contractors Market Product Analysis
4.1....

Methodology

Our market research methodology is designed to provide the clients with comprehensive and accurate information on various industries and markets. It includes data collection, primary interviews, macro-economic factor analysis, country-level data analysis etc.