Catering and food service contractors are the service providers who provide supply of food on a contractual basis to the institutions like educational, medical, commercial, sports and others. The market value of the catering and foodservice market was US$XX.XX billion in 2018. The catering and food service contractor market is expected to reach US$XX.XX billion in 2024 with CAGR of XX.XX%.
Rapid industrialization, the rise in disposable income, government initiatives, the rise in the air travel industry, and rising concern for employee retention are driving demand for catering and food service contractor market. Moreover, higher demand in the event organization industry for weddings, birthday, anniversaries, receptions and other parties are fueling demand for this market. The higher demand for the better workplace is propelling demand for catering and foodservice market on contractual basis in a commercial organization, educational organization and medical organization. The market is expected to face high competition due to the presence of numerous small vendors, restaurants, regional players and online & offline food delivery services. However, the growth of the online food service industry is hindering the growth for the catering and food service contractor market.
Catering and food service contractor market has been segmented into type (caterer, food service contractor) and end-user (private, commercial, government). Foodservice contractor market is expected to see a noticeable growth during the forecast period, owing to higher on-site food service demand in businesses, hospitals, entertainment venues and schools. The home-based food service is growing more popular in this market.
On the basis of geographical region, catering and food service contractor market is divided into North America, South America, Middle East and Africa, Europe and Asia-Pacific. Asia-Pacific region holds a substantial market share in the food service and contractor market. According to IATA, top 5 fastest growing air passenger countries are China, the US, India, Indonesia and Vietnam, resulting in higher demand for food services in the air travel industry, specifically in Asia-Pacific region. The US is expected to see significant growth in the food and catering service contractor market during the forecast period owing to higher demand for mini food buffet.
Finally, this section narrates major players in the catering and food contractor service market and their products and services, financials, recent developments and strategy to increase business. Key players operating in Catering and Food Service Contractor market are Compass Group PLC, Elior Group S.A., Sodexo, Aramark Corporation, Delaware North Companies Inc, Thompson Hospitality Corporation, Gategroup Holding AG, and Westbury Street Holdings, among others.
The Catering and Food Service Contractor Market have been analyzed through the following segments:
Food service contractor
By End User
United States of America
Middle East and Africa
United Arab Emirates
Key insights offered
What will be the Catering and Food Service Contractor market size from 2019 to 2024?
How are the major drivers and restraints affecting the Catering and Food Service Contractor market?
Catering and Food Service Contractor market growth and the opportunities which exist for key vendors?
Which segment and region will lead the Catering and Food Service Contractor market growth and why?
A comprehensive analysis of the competitive landscape and key market participants’ behaviour in the Catering and Food Service Contractor.
Key strategies being adopted by vendors, with in-depth analysis along with their impact on competition and market growth for the Catering and Food Service Contractor.