Global Catering and Food Service Contractor Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
“Global Catering and Food Service Contractor Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global catering and food service contractor market report has been segmented on the basis of product type, end user, and region.
Global Catering and Food Service Contractor Market: Overview
Catering and food service contractors are service providers, supply food and refreshments as a service at the workplace such as various industrial events, medical institutions, educational institutions, and commercial organizations, or special event such as parties, weddings, anniversaries, receptions, etc.
Global Catering and Food Service Contractor Market: Dynamics
Rapidly growing tourism industry across the globe is a key factor expected to drive growth of the global market over the forecast period.
In addition, increasing consumer preference towards mini buffets is another factor expected to further fuel growth of the target market over the forecast period. As mini meals are convenient and are packed in disposable trays such kind of meals are preferred for small get-togethers or functions where there are space constraints.
Furthermore, growing industrialization across various industries is another factor expected to boost growth of the target market over the forecast period.
Moreover, establishment of various educational and medical institutes is also expected to supports growth of the global market.
However, increasing consumer preference towards online food delivery services is a major factor expected to restrain growth of the global market over the forecast period. Online food service offers easy and convenient ordering process through mobile application.
Ongoing trend observed in the market is growing air travel across the globe is expected to support growth of the target market over the forecast period.
Technological advancements and innovative product launches are major factors expected to create potential revenue opportunities for players operating in the target market over the forecast period. In addition, increasing collaboration, merger, and acquisition activities by manufacturers operating in the target market in order to improve company’s product portfolio and sales is expected to support growth of the global market over the forecast period.
Global Catering and Food Service Contractor Market: Segment Analysis
Among application, corporate segment followed by industrial segment is expected to register significant growth in terms of revenue over the forecast period, owing to growing industrial development across the globe.
Global Catering and Food Service Contractor Market: Regional Analysis
The market in Europe is expected to register significant growth in terms of revenue over the forecast period, owing to increasing number of merger and acquisition activities among manufacturers operating in the target market in the region.
The market in Asia Pacific is expected to witness fastest growth rate over the forecast period, owing to stringent government regulations regarding food safety and rising preference towards promoting healthy eating’s across various countries in this region. For instance, in April 2017, Government of Singapore introduced Whole-of-Government (WOG) –Healthier Catering Policy to encourage healthier eating at homes, workplaces, and communities in Singapore. As per this policy, government entities in Singapore provided healthy food and drinks at the government organized functions, trainings, meetings and conferences.
Global Catering and Food Service Contractor Market Segmentation:
Segmentation by application:
- Hospitality Services
- Educational Institutions
- Sports & Leisure
- Others (Defense, Airports, Offshore, Remote, etc.)
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- Compass Group PLC
- Sodexo, Inc.
- Elior Group S.A.
- Delaware North Companies, Inc.
- Westbury Street Holdings Limited
- Ovations Food Services, L.P.
- Thompson Hospitality Corporation
- Dine Contract Catering Limited
- Olive Catering Services Ltd.
- Aramark Corporation
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