Catering and Food Service Contractor Market Overview, Industry Forecast due to COVID-19 Impact

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Catering and Food Service Contractor Market

Catering and food service contractors are service providers known to supply refreshments and food as a part of service to various workplaces like medical institutions, industrial events, educational institutions, and other such commercial organizations. The offer services to some special events such as anniversaries, parties, weddings, and receptions. The market of catering and food service contractors is growing significantly owing to the comfort and ease of services offered to the customers.

Market scope and structure analysis

                Report Metric                                                  Details
  Market size available for years   2020–2027
  Base year considered   2019
  Forecast period   2021–2027
  Forecast units   Value ($US)
  Segments covered   Ownership, Application, and Region
  Regions covered North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Malaysia, Thailand, Indonesia, and Rest of Asia-Pacific), LAMEA (Middle East, Brazil, and Rest of LAMEA)
  Companies covered Compass Group Plc., Dine Contract Catering,  Sodexo, Elior Group, Delaware North, Aramark Corporation, Westbury Street Holdings, Thompson Hospitality, Olive Catering Services, Ovations Food Services

 

COVID-19 Scenario Analysis: 

  • The stringent rules and regulations imposed worldwide due to COVID-19 led to the decline in the catering and food service contractor as gathering of people in masses is being restricted across most of the countries.
  • However, the market related to catering and food service contractor is expected to experience growth after worldwide release of the lockdown situation due to COVID-19 as people prefer having food contractor based services in parties and gatherings.

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Top Impacting Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis

Rapid growth in the tourism sector around the globe is actually driving the growth of the catering and food service contractor market.

In addition, change in consumer preference and inclination toward mini buffet systems is another prominent reason that fuels the growth of the market. As mini meals are easy to carry and store as well as can be packed in the disposable trays and boxes, these kind of meals are getting popular for small functions or get-togethers.

Furthermore, surge in industrialization and establishment of medical and educational institutes are also expected to boost the growth of the global market of catering and food service contractor.
However, rise in popularity of online food delivery services owing to easy and convenient ordering process is a major constraint expected to hamper the growth of the catering and food service contractor market.

The global catering and food service contractor market trends are as follows:

Healthy initiatives

Several key players are coming with several initiatives to strengthen the market growth. One of the significant strategies opted by the catering and food service contractors is healthy menu. For example, grain is a catering service provider which offers healthy buffet option in its menu.

Potential Market

Europe is expected to show substantial growth in terms of revenue in the coming period owing to increase number of acquisitions and mergers among the operators in the target market.
Asia-Pacific is also expected to grow owing to the stringent governmental guidelines regarding safety of food as well as due to the preference regarding promotion of healthy eating styles across the countries within the region.

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Key Segments Covered:

             Segments                                   Sub-segments
  Ownership
  • Standalone
  • Chained
  • Others
  Application
  • Corporate
  • Educational Institutions
  • Healthcare
  • Industrial
  • Hospitality Services
  • Sports & Leisure
  • Others (Defence, Airports, Offshore, and Remote)

 

Key Benefits of the Report:

  • This study presents the analytical depiction of the global catering and food service contractor industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global catering and food service contractor market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the global catering and food service contractor market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed global catering and food service contractor market analysis based on competitive intensity and how the competition will take shape in the coming years.

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