Global Catering Services And Food Contractors Market Forecast 2023-2032: Estimated Market Size And Growth Rate
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
As per The Business Research Company’s Global Market Report 2023, the worldwide catering services and food contractors market is set to increase from $269.19 billion in 2022 to $281.49 billion in 2023, reflecting a 4.6% CAGR. By 2027, it is anticipated to reach $330.98 billion, maintaining a 4.1% CAGR.
Western Europe held the largest catering services and food contractors market share.
Catering Services And Food Contractors Market Driver
The catering services and food contractors market is poised for growth due to stable economic conditions in developed and developing countries. Rising commodity prices, after a previous decline, will further support market expansion. Developed economies will experience consistent growth, and emerging markets are expected to outpace developed ones. For example, India’s GDP is projected to grow at 9.5% in 2022, while China anticipates a 5.5% GDP increase in the same year. These stable economic conditions will boost demand for industry services, driving market growth in the forecast period.
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Key Catering Services And Food Contractors Market Segments
The global catering services and food contractors market is segmented –
1) By Type: Food Service Contractors, Catering Services
2) By Ownership: Chained, Standalone
3) By Application: Tourist Accommodation, Official Business
Catering Services And Food Contractors Market Prominent Players
Major companies in the catering services and food contractors market include Compass group plc, Sodexo, Aramark corporation, Elior Group, Autogrill SpA, SSP Group plc, Lufthansa Group, DO & CO AG, Samsung C&T Corporation and Thompson Hospitality.
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Prominent Catering Services And Food Contractors Market Trend
Food catering firms collaborate to serve educational institutions and develop custom food apps. In March 2021, Sodexo partnered with HelloFresh to offer meal kits at 300+ U.S. colleges through the BiteU app. Students choose from HelloFresh’s diverse menu, catering to different dietary preferences and preferences, including vegetarian and gourmet options, all available for pre-selection, ordering, and scheduling.
The Catering Services And Food Contractors Global Market Report 2023 provides comprehensive insights on the catering services and food contractors market size, trends and drivers, opportunities, strategies, and competitor analysis. The countries covered in the catering services and food contractors market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
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