Catering and food service contract is a very critical part of the business, especially for network carriers serving long distances. Meal design and meal planning are important processes of catering services. According to International Air Transport Association (IATA), catering planning and catering operations are important areas of activities of catering services.
Improvement in living standard of people, catering and food and service contract market has grown at a significant rate. Young generations are more willing to pay for the high quality and experiences. Moreover, after COVID-19 pandemic, catering and food service contract market continued to develop the possibility of increasing the efficiency of the market participants, as per macroeconomic indicators showing economic growth, unemployment, and the demographic situation. A major element that shows the increased in catering and food service contract market is the systematically growth in revenue. The revenue of catering and food and service establishments is generated mainly by own food production, followed by alcohol and tobacco sales.
Moreover, with increase in use of contract catering and food services among the working-class people, technological advancement in delivering contract catering services and fulfilling the expectations of the clients by providing customized and nutritious food boosts the growth of the market. According to European Commission JRC (Joint Research Center) Technical report, Europe is expected to hold significant share in the global catering and food service contractor market during the forecast period.
Market growth in the region is attributed to the increase in number of merger and acquisition activities in the region. For instance, in 2017, CH&Co Group and Harbour & Jones merged, which brought a turnover of US$ 299.46 million. The merger of both companies was aimed to offer catering services across the UK and Ireland. Prior to this, Harbour & Jones acquired PCC Ltd along with its two brands namely Fare of London and Principals Catering. The deal made a turnover of over US$ 55.48 million. Therefore, increasing M&A activities in Europe is expected to boost market growth in terms of revenue.
Catering is the business of providing food service at various locations. The growth in business is influenced by several factors, such as a change in the lifestyle of city dwellers. Moreover, corporate culture that holds several meetings, conferences, business lunch and dinner parties are dependent upon the catering and food service contract industry services. The trend might not be that new for the developed countries, but the countries that have recently discovered the corporate culture help the industry to attain popularity.
Furthermore, catering and food services contract businesses add more services such as birthday parties, wedding receptions and others. Companies with greater reliance on the service part of their business focus on a better return on sales that can improve their value. Based on high-quality products, companies invest more in service differentiation to achieve competitive advantages. Moreover, the increase in popularity of online contract catering and food service is one of the major factors driving the growth of the contract catering and food service market.
The catering and food service contract market is segmented into ownership, application, and region. On the basis of ownership, the market is divided into standalone and chain. On the basis of application, it is classified into a corporate, educational institution, healthcare, industrial, hospitality services, sports and leisure, and others. On the basis of region, it is studied across North America, Europe, Asia-Pacific, and LAMEA.
The players in the catering and food service contract market have adopted acquisition and product launch as their key development strategies to increase profitability and improve their position in the market. The key players profiled in the catering and food service contract market include The RK Group, Gulf Catering Company, Delaware North Companies, Inc., Comprehensive Support Services PTE., Ltd., Australian Camp Services, Of Food Catering, Conntrak Catering Service., National Catering Services & Foodstuff, NCC Group, Compass Group PLC., Sodexo, Elior Group, Aramark, ISS A/S, Thompson Hospitality Corporation, NTUC Foodfare Co-operative Limited, SATS Ltd., Catering Solutions Pte. Ltd., Neo Group Limited, Algosaibi Services Company, Ltd., Cater Care Holdings Pty., Ltd., Catering HQ, Gnocci Holdings Pty. Ltd., WSH Investments Limited., Fusion Foods & Catering Pvt. Ltd.
Improvement in living standard of people, catering and food and service contract market has grown at a significant rate. Young generations are more willing to pay for the high quality and experiences. Moreover, after COVID-19 pandemic, catering and food service contract market continued to develop the possibility of increasing the efficiency of the market participants, as per macroeconomic indicators showing economic growth, unemployment, and the demographic situation. A major element that shows the increased in catering and food service contract market is the systematically growth in revenue. The revenue of catering and food and service establishments is generated mainly by own food production, followed by alcohol and tobacco sales.
Moreover, with increase in use of contract catering and food services among the working-class people, technological advancement in delivering contract catering services and fulfilling the expectations of the clients by providing customized and nutritious food boosts the growth of the market. According to European Commission JRC (Joint Research Center) Technical report, Europe is expected to hold significant share in the global catering and food service contractor market during the forecast period.
Market growth in the region is attributed to the increase in number of merger and acquisition activities in the region. For instance, in 2017, CH&Co Group and Harbour & Jones merged, which brought a turnover of US$ 299.46 million. The merger of both companies was aimed to offer catering services across the UK and Ireland. Prior to this, Harbour & Jones acquired PCC Ltd along with its two brands namely Fare of London and Principals Catering. The deal made a turnover of over US$ 55.48 million. Therefore, increasing M&A activities in Europe is expected to boost market growth in terms of revenue.
Catering is the business of providing food service at various locations. The growth in business is influenced by several factors, such as a change in the lifestyle of city dwellers. Moreover, corporate culture that holds several meetings, conferences, business lunch and dinner parties are dependent upon the catering and food service contract industry services. The trend might not be that new for the developed countries, but the countries that have recently discovered the corporate culture help the industry to attain popularity.
Furthermore, catering and food services contract businesses add more services such as birthday parties, wedding receptions and others. Companies with greater reliance on the service part of their business focus on a better return on sales that can improve their value. Based on high-quality products, companies invest more in service differentiation to achieve competitive advantages. Moreover, the increase in popularity of online contract catering and food service is one of the major factors driving the growth of the contract catering and food service market.
The catering and food service contract market is segmented into ownership, application, and region. On the basis of ownership, the market is divided into standalone and chain. On the basis of application, it is classified into a corporate, educational institution, healthcare, industrial, hospitality services, sports and leisure, and others. On the basis of region, it is studied across North America, Europe, Asia-Pacific, and LAMEA.
The players in the catering and food service contract market have adopted acquisition and product launch as their key development strategies to increase profitability and improve their position in the market. The key players profiled in the catering and food service contract market include The RK Group, Gulf Catering Company, Delaware North Companies, Inc., Comprehensive Support Services PTE., Ltd., Australian Camp Services, Of Food Catering, Conntrak Catering Service., National Catering Services & Foodstuff, NCC Group, Compass Group PLC., Sodexo, Elior Group, Aramark, ISS A/S, Thompson Hospitality Corporation, NTUC Foodfare Co-operative Limited, SATS Ltd., Catering Solutions Pte. Ltd., Neo Group Limited, Algosaibi Services Company, Ltd., Cater Care Holdings Pty., Ltd., Catering HQ, Gnocci Holdings Pty. Ltd., WSH Investments Limited., Fusion Foods & Catering Pvt. Ltd.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the catering and food service contract market analysis from 2022 to 2032 to identify the prevailing catering and food service contract market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the catering and food service contract market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global catering and food service contract market trends, key players, market segments, application areas, and market growth strategies.
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Key Market Segments
By Ownership
- Standalone
- Chain
By Application
- Healthcare
- Corporate
- Educational Institutions
- Industrial
- Hospitality Services
- Sports and Leisure
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- Italy
- Spain
- UK
- Russia
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Thailand
- Malaysia
- Indonesia
- Singapore
- Vietnam
- Mayanmar
- Rest of Asia-Pacific
- LAMEA
- Brazil
- South Africa
- UAE
- Saudi Arabia
- Argentina
- Rest of LAMEA
- Comprehensive Support Services PTE., Ltd.
- Conntrak Catering Services.
- Fusion Foods & Catering Pvt. Ltd.
- ISS A/S
- SATS Ltd.
- National Catering Services & Foodstuff
- Sodexo
- Gulf Catering Company
- Neo Group Limited
- Cater Care Holdings Pty., Ltd.
- Australian Camp Services
- Elior Group SA
- Catering HQ Pty Ltd.
- Catering Solutions Pte. Ltd.
- Algosaibi Services Company, Ltd.
- Thompson Hospitality Corporation
- WSH Investments Limited.
- Compass Group PLC
- Delaware North Companies, Inc.
- NTUC Foodfare Co-operative Limited
- Aramark
- Gnocci Holdings Pty. Ltd.
- Of Food Catering
- The RK Group
- National Catering Company Limited WLL
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: CATERING AND FOOD SERVICE CONTRACT MARKET, BY OWNERSHIP
CHAPTER 5: CATERING AND FOOD SERVICE CONTRACT MARKET, BY APPLICATION
CHAPTER 6: CATERING AND FOOD SERVICE CONTRACT MARKET, BY REGION
CHAPTER 7: COMPETITIVE LANDSCAPE
CHAPTER 8: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to this report, titled, 'Catering And Food Service Contract Market,' The catering and food service contract market was valued at $251.1 billion in 2021, and is estimated to reach $477.3 billion by 2031, growing at a CAGR of 5.7% from 2022 to 2031.The catering and food service contract market refers to the food services provided by a catering company for an event, organization, corporate, educational institution, healthcare, industrial, hospitality services, sports and leisure, and others on a contractual basis. Catering and food service contract is the business of providing food service at various locations. The global catering services market is driven by the recent food safety-related incidents, due to which the FDA has come up with strict and tighter norms and regulations for monitoring the quality and standards of food being served. Thus, along with the global concern for food safety, it also drives the demand for outsourcing catering services, further enhancing the global catering services market.
The rise in business-related travel and an increase in the number of food joints such as hotels & restaurants fuel the growth of the catering and food service contract market. According to the Restaurant Performance Index of the National Restaurant Association, the U.S. restaurant industry is expected to reach $863 billion in 2019 with over 1 million restaurants operating in the U.S. cross-border investments, experiments & innovations in varieties of cuisines, and growth in travel & tourism industry is anticipated to provide lucrative opportunities for the market expansion. However, the COVID-19 outbreak has led to the closure of a significant proportion of the food service industry, including hotels & restaurants, pubs & bars. This, in turn, has hampered the growth of the catering and food service contract market during the pandemic.
The changing in the socio-economic scenario coupled with rising consumer living standards, particularly across the developing regions is further driving the market. Moreover, contract catering services also gain popularity in the healthcare sector due to the growth in the need for wellness and a balanced diet. Apart from this, the increase in demand for hygienic and nutritional food across educational institutions and geriatric care centers also catalyzes the market for contract catering. Moreover, various caterers are focused on providing premium table services, exotic ingredients, live food counters, and aesthetic delicacies in a profound manner, thereby transforming the global catering and food service contract market.
After the relaxation in COVID-19 rules, there is an increase in the number of social gathering events which will boost the market growth of the catering food and services contract market. An increase in destination weddings is becoming very trendy and popular among millennials and every 1 out of 4 couples opt for a destination wedding in the American region. In addition, weddings in New York City are the most luxurious destination weddings by far. Moreover, the advantage of contract catering services is increased accountability from the caterer, convenience for customers, and regulatory compliance with food hygiene and safety requirements. Hence, contract catering services have become one of the most popular types of catering services.
The catering and food service contract market is segmented into ownership, application, and region. On the basis of ownership, the market is divided into standalone and chain. On the basis of application, it is classified into a corporate, educational institution, healthcare, industrial, hospitality services, sports and leisure, and others. On the basis of region, it is studied across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in the catering and food service contract market include The RK Group, Gulf Catering Company, Delaware North Companies, Inc., Comprehensive Support Services PTE., Ltd., Australian Camp Services, Of Food Catering, Conntrak Catering Service., National Catering Services & Foodstuff, NCC Group, Compass Group PLC., Sodexo, Elior Group, Aramark, ISS A/S, Thompson Hospitality Corporation, NTUC Foodfare Co-operative Limited, SATS Ltd., Catering Solutions Pte. Ltd., Neo Group Limited, Algosaibi Services Company, Ltd., Cater Care Holdings Pty., Ltd., Catering HQ, Gnocci Holdings Pty. Ltd., WSH Investments Limited., Fusion Foods & Catering Pvt. Ltd.
Key findings of the study
By ownership, the chain segment is estimated to witness the fastest growth, registering a CAGR of 6.1% during the forecast period.By application, the corporate segment was dominating in 2021, accounting for 22.3% of the catering and food service contract market share.
By region, Europe was the most prominent market in 2021, and is expected to grow at a significant CAGR 5.4% throughout the forecast period.
Companies Mentioned
- Comprehensive Support Services PTE., Ltd.
- Conntrak Catering Services.
- Fusion Foods & Catering Pvt. Ltd.
- ISS A/S
- SATS Ltd.
- National Catering Services & Foodstuff
- Sodexo
- Gulf Catering Company
- Neo Group Limited
- Cater Care Holdings Pty., Ltd.
- Australian Camp Services
- Elior Group SA
- Catering HQ Pty Ltd.
- Catering Solutions Pte. Ltd.
- Algosaibi Services Company, Ltd.
- Thompson Hospitality Corporation
- WSH Investments Limited.
- Compass Group PLC
- Delaware North Companies, Inc.
- NTUC Foodfare Co-operative Limited
- Aramark
- Gnocci Holdings Pty. Ltd.
- Of Food Catering
- The RK Group
- National Catering Company Limited WLL
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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