Catering And Food Service Contract Market
Catering And Food Service Contract Market
Lifestyle and demographic trends indicate an optimistic outlook for the catering and food service contract industry.
PORTLAND, OR, US, January 16, 2024 /EINPresswire.com/ -- The global catering and food service contract market generated $251.1 billion in 2021, and is estimated to reach $477.3 billion by 2031, witnessing a CAGR of 5.7% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscape, and competitive scenario. The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market.
𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.alliedmarketresearch.com/request-sample/6974
The increase in demand for hygienic and nutritional food across educational institutions and geriatric care centers also drives the growth of the market. Several contract catering and food service companies are leveraging technology for offering pre-booking options, online menus, customized orders, and shorter waiting durations due to rapid digitalization and increase in penetration of smart devices. In recent times, rise in globalization levels, surge in number of tourism activities, and exposure to various inter-cultural cuisines have brought change in consumer food preferences across the globe. Apart from this, the expansion of leading contract catering companies along with their integrated services are attracting a large consumer base globally.
Key Players
The players included in the Catering And Food Service Contract Market Analysis 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.
𝐌𝐚𝐤𝐞 𝐚 𝐃𝐢𝐫𝐞𝐜𝐭 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞: https://www.alliedmarketresearch.com/checkout-final/0bf744a361414c5d3b7285db0e5d81c1
The increase in use of contract catering services among the working class reflects a significant shift in the way people approach their daily meals and culinary preferences which brings Catering And Food Service Contract Market Opportunities. Gradually, the demands of modern life, coupled with the desire for convenience, drives this trend. Many working individuals now choose for contract catering services as a solution to their busy lifestyle, as it offers them a hassle-free, time-saving alternative to cooking at home or going out to eat.
The report offers a detailed segmentation of the global catering and food service contract market based on application, ownership, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.
Based on distribution channel, the retail pharmacies segment was the largest in 2021, grabbing more than two-fifths of the global catering and food service contract market share, and would maintain its dominance through 2031. The hospital pharmacies segment, on the other hand, is estimated to witness the fastest CAGR of 11.1% during the forecast period. The report also mentions the online pharmacies segment.
𝐆𝐞𝐭 𝐘𝐨𝐮𝐫 𝐑𝐞𝐩𝐨𝐫𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝: https://www.alliedmarketresearch.com/request-for-customization/6974
Based on region, the market in Europe was the largest in 2021, accounting for more than one-third of the global catering and food service contract market share and is likely to maintain its leadership status during the forecast period. However, the market in Asia-Pacific is expected to manifest the highest CAGR of 6.6% from 2022 to 2031. The other regions analyzed in the study include North America and LAMEA.
Moreover, the emergence of advanced business models for offering ad-hoc workplace food services are expected to further boost the growth of the contract catering market in the coming years. However, changes in food habits and busy lifestyle of consumers have led to increase in demand for ready-to-eat meals. Also, rapid changes in the supporting factors such as disposable income, consumer preferences, increase in working women population, and digitization have resulted into rise in number of quick-service, pop & shop, and other including full-service restaurants, pubs & bars, and quick service restaurants has dramatically hampered the sale of catering and food service contract market.
Key Market Findings
Based on ownership, the catering and food service contract market for standalone segment held the major Catering And Food Service Contract Market Share in the market in 2022. Standalone catering and food and service contractor effectively utilize social media to engage with customers and enhance their brand image are more likely to thrive over the Catering And Food Service Contract Market Forecast period.
Based on application, the catering and food service contract market for corporate dominated the global market in the year 2022. For reducing inconveniences and save time, the caterer uses food trucks to bring the food close to the company without entering the premises, the employees can pick up their order and have it within proximity.
Based on region, the Europe catering and food service contract market dominated the global market in the year 2022. The sustained high rate of GDP growth in Europe over a long period of time has resulted in growth in the per capita income.
𝐓𝐚𝐥𝐤 𝐭𝐨 𝐨𝐮𝐫 𝐀𝐧𝐚𝐥𝐲𝐬𝐭: https://www.alliedmarketresearch.com/connect-to-analyst/6974
The report analyzes these key players of the global catering and food service contract market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.
𝐂𝐡𝐞𝐜𝐤 𝐨𝐮𝐭 𝐦𝐨𝐫𝐞 𝐫𝐞𝐥𝐚𝐭𝐞𝐝 𝐬𝐭𝐮𝐝𝐢𝐞𝐬 𝐩𝐮𝐛𝐥𝐢𝐬𝐡𝐞𝐝 𝐛𝐲 𝐀𝐌𝐑 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:
Food away from home Market - https://www.prnewswire.com/news-releases/food-away-from-home-market-to-reach-5-9-trillion-by-2031--allied-market-research-301769942.html
Food Safety Testing Market - https://www.prnewswire.com/news-releases/food-safety-testing-market-size-to-garner-37-5-billion-by-2031--allied-market-research-301789506.html
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