In recent years there have been a shift in demand for catering and food services market due to changing lifestyle and urbanization across the globe. Catering and food service industry offers services on contractual basis or single event basis. Catering and food service includes catering services for banquet halls, airline services, canteen catering, etc. Catering and food service does not include services such as mobile food service i.e. food trucks and food vending machine. In addition, factors such as hectic lifestyle and challenges related to cooking at home are driving the growth for catering and food service market. Furthermore, restaurants and hotels are coming up with innovative food service catering which are expected to drive the catering and food service market. Catering and Food Service Market is also driven as individuals between 18 and 35 age group are preferring outside food due to their hectic lifestyle. Due to bulk transportation of food items the cost per person also decreases which is also a driving factor for catering and food service at events. Catering and food service also helps in providing hygienic and healthy food to several institutes such as offices, schools, colleges, airplane, etc. All this factors helps in the growth of catering and food service market during the forecast period 2018 – 2028.
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Catering and food service market is expected to grow substantially on the backdrop of increasing demand for ready to eat outdoor food and accessibility across the globe. Due to better packaging, catering and food service also provides healthy and hygienic food for the consumers. In addition, due to convenience from catering and food service it is widely being used in schools, colleges, restaurants, offices, cafeterias, etc. Furthermore, several fast food companies are accepting catering and food service in order to increase their presence. Moreover, the high cost of maintaining consistency and hygiene of food items by using a large labor force is one of the challenging factor for catering and food service market.
Global Catering and Food Service Market – Regional Overview:
The North American market is anticipated to witness the highest market share for the global catering and food service market during the forecast period 2018 - 2028. Followed by Europe which is estimated to witness above average growth for catering and food service market during the forecast period.
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The Asia Pacific catering and food service market is expected to witness the significant growth due to extensive demand for catering and food service in airports and commercial organizations in this region. The catering and food service market in the Latin America and Middle East & Africa region is anticipated to witness sluggish growth during the forecast period.
Global Catering and Food Service Market – Key Players:
A few of the key players in the catering and food service market are Compass Group PLC, Aramark Corporation, Sodexo, Inc. Thompson Hospitality Services LLC, Elior Group S.A., Delaware North Companies, Inc., DO & CO Aktiengesellschaft, dnata Ltd., Goddard Catering Group Ltd., Newrest Group International S.A.S, TajSATS Air Catering Limited, Ocean Catering Company, Cosmopolitan Catering, Performance Food Group Company, etc.
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