3,100+
Viewed by
4.6
Ratings
10+
Countries Tracked
100+
Suppliers Covered
20
Clients Served
USD 10 Mn
Savings Generated
$123.65 Bn
$218.1 Bn
$78 Bn
The global market for catering services is expected to reach $614.47 billion by 2023 while growing at a constant CAGR of 4.5 percent. High market maturity regions include Western European countries, such as the UK, France, and Italy, along with other countries such the U.S., Singapore, the UAE, and Hong Kong. The potential growth market for catering is anticipated to be in Middle Eastern regions, India, China, Canada, Japan, Mexico, and Australia by 2023. About 60-70 percent of the entire catering contracts in developed markets will be a part of IFM contracts.
The global catering industry will be driven by a growing emphasis on the adoption of technology to improve customer experience and a reduction in the time spent waiting for food. The report also provides a regional market outlook in areas such as North America, Europe, MEA, APAC, and the LATAM. It also explores the digital transformations driving change in the vending industry, followed by best practices and innovation in other catering trends. The report also provides detailed profiles of global suppliers like the Compass Group, Sodexo, Aramark, and ISS.
Beroe gathers intelligence through primary sources that include industry experts, researchers, and consultants, as well as current suppliers, producers and distributors. Secondary sources can include business journals, newsletters, magazines, market research data, company sources, and industry associations. Following data collation, analysis, and strategic review, the Final Research Report is published on Beroe LiVE.
Category Intelligence on Catering Services covers the following
The global food service industry was valued at $454.4 billion in 2016
Other than Western Europe and a few other countries, markets for catering services as a standalone specialized function remain underdeveloped
Demand in the food service industry is mostly driven by large corporate spending. Major buyers are expanding their catering service offerings to employees through increased outsourcing to specialized catering suppliers
Suppliers are also improving their supply capability while adopting performance-based metrics for evaluation and performance monitoring.
Increasing expansions of global multinationals in APAC and parts of MEA have triggered an increase in outsourcing of catering services
Since 2010, global suppliers, such as Compass Group, Sodexo, Aramark and ISS, have been aggressively trying to increase their footprints in these regions through mergers and acquisitions as well as partnerships with local vendors
Absence of major suppliers or their direct operational presence across all locations leads to subcontracting of services
Catering as a Talent Attraction and Retention Tool
Demand for Fresh and Healthy Food
Mobile Workforce
Catering Services
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