The size of the catering services market will increase by USD 104.92 billion | Research Results Highlight Growing Popularity of Online Catering as a Key Driver | Technavio | national news

NEW YORK, November 15, 2021 / PRNewswire / – According to the research report “Catering Services Market – Forecast and Analysis Report 2021-2025“, the market is expected to have an annual growth rate of 2.12% in 2021 and is expected to grow at a CAGR of 4.45% between 2020 and 2025. The report segments the market by service (contract catering services and catering services) concession) and geography (APAC, North America, Europe, MEA and South America).

APAC is the world’s largest foodservice market. Offices, businesses, and corporations typically contract out catering services to provide food, and the growing preference for office dining is expected to increase revenue for contract catering services in the region. In addition, the fast-paced lifestyles have created opportunities for take out food in the region, in turn creating significant growth opportunities for food service providers in APAC.

See the sample: to know additional highlights and key points on various market segments and their impact in the years to come.

Supplier Information

The global catering services market is fragmented in nature due to the presence of several global and regional players.

Market players are deploying growth strategies such as focusing on innovations and customizing food menus to be competitive in the market. Some vendors are also adopting inorganic growth strategies such as mergers and acquisitions to stay competitive in the market.

CH and Co Catering Group Ltd.– In September 2020, CH and Co Catering Group Ltd. announced the partnership with Gather and Gather as the last franchisee of Oxford Brookes University.

The report analyzes the competitive landscape of the market and offers information about several vendors of the market, including:

  • Aramark Corp.
  • bartlett mitchell Ltd.
  • CH and Co Catering Group Ltd.
  • Northern Delaware Companies Inc.
  • Deutsche Lufthansa AG
  • Dine Contract Catering Ltd.
  • DO & CO Aktiengesellschaft
  • DoorDash Inc.
  • Elior SA Group
  • The Emirates group

Learn more about the growth strategies adopted by vendors and their product offerings. Read a sample market research report.

Geographic market analysis

APAC will provide maximum growth opportunities in the catering services market during the forecast period. According to our research report, the region currently holds 45% of the growth share of the global market and is expected to dominate the market until 2025.

In addition, countries like the United States, China, Japan, France, and Germany are expected to become prominent markets for food services during the forecast period.

Analysis of key segments

Contract catering services dominated the market in 2020 and will continue to dominate the market growth during the forecast period. The benefit of catering services is increased caterer responsibility, convenience for customers, and regulatory compliance with hygiene and food safety requirements. Therefore, collective catering services have become one of the most popular types of catering services.

Learn more about the geographic spread of this market as well as the detailed analysis of major regions. https://www.technavio.com/report/catering-services-market-industry-analysis

Main market drivers, trends and challenges:

The growing popularity of online catering is a major factor in the growth in the size of the catering services market. Online catering allows consumers to select food items from the menu prescribed on the website and then place an order. In addition, these online channels allow customers to create personal accounts to facilitate future orders, as these accounts record customer preferences. This helps suppliers to market new products to generate repeat sales. As a result, online ordering platforms are used as an effective marketing tool to promote products and drive sales by allowing customers to place orders quickly and easily.

The report identifies the marketing initiatives supporting the growth of the catering services market share as one of the key trends. Vendors operating in the global catering services market are focused on using integrated marketing communications and other advertising channels, including newspapers, magazines, and social media platforms, such as YouTube and Facebook, to promote their services. These innovative and advanced communication channels help sellers to intensify the marketing strategy of restaurant services and their outlets.

Fluctuating prices of food raw materials will emerge as a major challenge for the growth of the catering services market. Since the global catering services market is governed by price competition and product differentiation, maintaining a balance between food price and quality is very important for catering businesses. In a highly competitive market, caterers must keep prices low regardless of production costs to attract and retain consumers.

See a free sample for highlights on market drivers, trends and challenges affecting the catering services market.

Foodservice Services Market Value Chain Analysis

The food service value chain includes the following key elements:

  • Contributions
  • Inbound logistics
  • Operations
  • External logistics
  • Marketing and sales
  • Service
  • Support activities
  • Innovation

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Associated reports:

Quick Service Restaurant Market by Service and Geography – Forecast and Analysis 2021-2025

United States Casual Fast Food Market by Product – Forecast and Analysis 2021-2025

Catering Market by Industry, Type and Geography – Forecast and Analysis 2021-2025

Scope of the foodservice market

Cover of the report

Details

Page number

120

Year of reference

2020

Forecast period

2021-2025

Growth dynamics and CAGR

Accelerate to a CAGR of 4.45%

Market growth 2021-2025

$ 104.92 billion

Market structure

Fragmented

Annual growth (%)

2.12

Regional analysis

APAC, North America, Europe, MEA and South America

Efficient contribution to the market

45% APAC

Main consumer countries

United States, China, Japan, France and Germany

Competitive landscape

Leading companies, competitive strategies, reach of consumer engagement

Profiled companies

Aramark Corp., bartlett mitchell Ltd., CH and Co Catering Group Ltd., Delaware North Companies Inc., Deutsche Lufthansa AG, Dine Contract Catering Ltd., DO & CO Aktiengesellschaft, DoorDash Inc., Elior Group SA and The Emirates Group

Market dynamics

Parent Market Analysis, Market Growth Drivers and Obstacles, Analysis of Fast Growing and Slow Growing Segments, Impact of COVID 19 and Future Consumer Dynamics, Analysis of Market Conditions for the Forecast Period.

Customization

If our report didn’t include the data you’re looking for, you can reach out to our analysts and customize the segments.

About Us:

Technavio is one of the world’s leading technology research and consulting companies. Their research and analysis focuses on emerging market trends and provides actionable insights to help companies identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialist analysts, Technavio’s report library includes over 17,000+ reports, spanning 800 technologies, spanning 50 countries. Their customer base consists of companies of all sizes, including more than 100 Fortune 500 companies. This growing customer base relies on Technavio’s comprehensive coverage, in-depth research and actionable market intelligence to identify opportunities in existing markets. and potentials and assess their competitive positions in changing market scenarios.

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