Global Catering Market Outlook to 2027

The report provides a comprehensive analysis of the potential of Catering Industry in World. The report covers an overview and genesis of the industry, market size in terms of revenue generated.

Its market segmentations include by service type, by end-users, by region and by basis of application; growth enablers and drivers; challenges and bottlenecks; trends driving adoption trends; regulatory framework; end-user analysis, industry analysis, competitive landscape including competition scenario and market shares of major players. The report concludes with future market projections of each market segmentation and analyst recommendations.

Market Overview:

According to publisher estimates, the Global Catering Market is aided by the overall food service industry. Also, 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 is also driving the demand for outsourcing catering services, further enhancing the global catering services market.

Catering Service companies are beginning to offer products that capitalize on this interest in vegan and vegetarian products, which in turn is set to boost the growth of the catering service market.

Growth in rapid urbanization, corporate and private events will boost the trend of food-away-from-home, thereby escalating overall market development of global catering services.

Key Trends by Market Segment:

• By Type: Contractual catering holds the largest share in catering services. Catering Market in 2022. This is due to the fact that contract-based services allow long-term cost-effective solutions to the consumers mostly the organizations such as educational institutions, oil & gas and mining sites, office buildings, hospitals, and many others
• By End-Users: The event and marriage sector has accounted for the revenue share of ~% in catering services. The establishment of a large number of malls, schools, companies, colleges, IT parks, factories, and hospitals will widen the scope of the food catering business

Competitive Landscape:

The global catering market in highly fragmented with presence of various large and small market players in the industry. Favorable move like merger and acquisition by market players along with urbanization and changing food habits will enhance their global presence and boost their foothold in market.

Future Outlook:

The Global Catering Market is projected to show a significant growth, to contribute triple digit Bn by 2027 with quickly developing business-to-business (B2B) events sector and government initiatives. The growth rate is anticipated to increase over the period with innovative catering services, hectic lifestyles and difficulties associated with cooking at home.

 

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