The Catering Services and Food Contractors Market was calculated at USD 251.82 billion in 2021 and is foreseen to reach USD 328.11 billion by the end of the assessment period. The market is also estimated to experience reasonable growth to record a CAGR of 7.4% throughout the projection period (2021-2026).
The catering services and food contractors market consists of the provision services related to food based on unique events in institutional, government, commercial or other sites, on the basis of contractual agreements with these types of organizations for a period specified by the entities. The catering services and food contractors market is studied separately for two categories of food contractors and catering services.
The outbreak of the coronavirus disease acted as a massive strain on the market for catering services and food contractors in 2020, with governments globally imposing restrictions on domestic and international travel limiting the need for the services offered by these establishments. Measures taken by national governments to contain transmission have led to a decline in economic activity, with countries entering a state of lockdown, and the outbreak is expected to continue to negatively affect businesses through 2020 and into 2021. However, catering services and the food contractors market is expected to rebound from the shock over the projection period as this not linked to permanent or fundamental weaknesses in the global economy.
Recent Developments
Drivers and Restraints of Catering Services and Food Contractors Market:
The rapidly growing tourism industry around the world is a key factor that is expected to drive the growth of the global catering services and food contractors market during the forecast period. Additionally, growing consumer preference for mini buffets is another factor that is estimated to drive growth in the target market over the foreseen period. Since mini meals are convenient and packed in disposable trays, this type of meal is preferred for small gatherings or functions where space is limited. Also, the increasing industrialization of various industries is another factor that is predicted to drive the growth of the target market during the conjecture period. In addition, the establishment of various medical and educational institutes is also likely to support the growth of the world market.
However, the growing preference of consumers for online food delivery services is a major factor that is determined to slow the growth of the global market over the outlook period. The online foodservice offers a simple and convenient ordering process through a mobile app. The continued trend observed in the market is that air travel around the world is anticipated to support the growth of the target market in the coming years. Technological advancements and innovative product launches are the main factors that can create potential revenue opportunities for players operating in the target market during the conjecture period. In addition, intensified collaboration, merger and acquisition activities by manufacturers operating in the target market to enhance the company's product portfolio and sales are supposed to support global market growth during the envisioned period.
Catering Services and Food Contractors Market – By Type:
Mobile Food Services
Catering Services and Food Contractors Market – By Ownership:
Catering Services and Food Contractors Market – By Regions:
The European market is expected to register significant growth in terms of revenue during the forecast period, due to the increasing number of M&A activities among manufacturers operating in the region's target market. The Asia-Pacific region market is foreseen to experience the fastest growth rate during the predicted period, due to strict government food safety regulations and a growing preference for promoting healthy eating in several countries in this region. For example, in April 2017, the Singapore government introduced a Comprehensive Government Food Service Healthier Policy (WOG) to encourage healthier eating in Singapore's home, workplaces and communities. In accordance with this policy, Singaporean government entities have provided healthy food and beverages at government events, trainings, meetings and conferences.
Leading Company
Compass Group had the largest share of the Global Catering Services and Food Contractors Market in terms of sales and revenue in 2020.
Key Players
The Catering Services and Food Contractors Market is concentrated with a few well-established players. Some of those players in the market include Delaware North, Compass Group plc, Elior Group, Aramark Corporation, and Sodexo.
1. Introduction
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.1.1 Drivers
4.1.2 Restaints
4.1.3 Opportunities
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.2 Products/Service
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Catering Services and Food Contractors Market, By Type
6.1.1 Mobile Food Services
6.1.2 Buffets
6.1.3 Cafeterias
6.1.4 Limited-Service Restaurants
6.1.5 Full-Service Restaurants
6.1.6 Market Size Estimations & Forecasts (2021-2026)
6.1.7 Y-o-Y Growth Rate Analysis
6.1.8 Market Attractiveness Index
6.2 Catering Services and Food Contractors Market, By Ownership
6.2.1 Economy
6.2.2 High-End
6.2.3 Market Size Estimations & Forecasts (2021-2026)
6.2.4 Y-o-Y Growth Rate Analysis
6.2.5 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance and Administration Market, by Region
7.2 North America - Market Analysis (2018 - 2024)
7.2.1 By Country
7.2.1.1 USA
7.2.1.2 Canada
7.2.2 By Type
7.2.3 By Ownership
7.3 Europe
7.3.1 By Country
7.3.1.1 UK
7.3.1.2 France
7.3.1.3 Germany
7.3.1.4 Spain
7.3.1.5 Italy
7.3.1.6 Rest of Europe
7.3.2 By Type
7.3.3 By Ownership
7.4 Asia Pacific
7.4.1 By Country
7.4.1.1 China
7.4.1.2 India
7.4.1.3 Japan
7.4.1.4 South Korea
7.4.1.5 South East Asia
7.4.1.6 Australia & NZ
7.4.1.7 Rest of Asia-Pacific
7.4.2 By Type
7.4.3 By Ownership
7.5 Latin America
7.5.1 By Country
7.5.1.1 Brazil
7.5.1.2 Argentina
7.5.1.3 Mexico
7.5.1.4 Rest of Latin America
7.5.2 By Type
7.5.3 By Ownership
7.6 Middle East and Africa
7.6.1 By Country
7.6.1.1 Middle East
7.6.1.2 Africa
7.6.2 By Type
7.6.3 By Ownership
8. Key Player Analysis
8.1 Delaware North
8.1.1 Business Description
8.1.2 Products/Service
8.1.3 Financials
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 Compass Group plc
8.3 Elior Group
8.4 Aramark Corporation
8.5 Sodexo
9. Market Outlook & Investment Opportunities
10. Appendix
List of Tables
List of Figures