45% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for catering services in APAC. Market growth in APAC will be faster than the growth of the market in other regions. Factors such as growing preference to dine in the office will facilitate the catering services market growth in APAC over the forecast period.
The potential growth difference for the catering services market between 2020 and 2025 is USD 104.92 billion. To get the exact yearly growth variance and the Y-O-Y growth rate, Talk to our analyst.
Key Market Dynamics:
- Market Driver - The increasing popularity of online catering is one of the major factors driving the growth of the catering services market size. Online catering enables consumers to select food items from the prescribed menu on the website and subsequently place an order. Also, these online channels allow customers to create personal accounts to make future ordering convenient as these accounts record customers' preferences. This helps vendors to market new products for generating repeated sales. As a result, online ordering platforms are used as an effective marketing tool to promote products and drive sales by enabling customers to place orders quickly and easily. Furthermore, online catering channels are adding delivery services to bring food to consumers' doors along with catering services. Moreover, vendors are partnering with logistics companies to promote the timely delivery of a chosen food item, thereby increasing their operational efficiency.
- Market Challenges - The fluctuation in food commodity prices is a major challenge for the catering services market growth. The global catering services market is highly dependent on the prices of food commodities such as sugar, grains, meat, salt, vegetables, and dairy products. These comprise raw materials required for cooking food, and hence their existing prices are very important for the catering services market. As the global catering services market is driven by price competition and product differentiation, maintaining a balance between food prices and quality is very important for catering companies. In a highly competitive market, caterers must maintain low prices irrespective of production costs to attract and retain consumers. Thus, fluctuating food commodity prices are major challenges faced by food service operators.
To learn about additional key drivers, trends, and challenges available with Technavio. Read our FREE Sample Report right now!
The catering services market report is segmented by Service (Contract catering services and Concession catering services) and Geography (APAC, North America, Europe, MEA, and South America).
The catering services market share growth by the contract catering services segment will be significant for revenue generation. The advantage of contract catering services is increased accountability from the caterer, convenience for customers, and regulatory compliance with food hygiene and safety requirements. Hence, contract catering services have become one of the most popular types of catering services.
View our sample report for additional insights into the contribution of all the segments, and regional opportunities in the report.
Some Companies Mentioned
- Aramark Corp.
- bartlett mitchell Ltd.
- CH and Co Catering Group Ltd.
- Delaware North Companies Inc.
- Deutsche Lufthansa AG
- To gain access to more vendor profiles with their key offerings available with Technavio, Click Here
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Catering Services Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.45% |
Market growth 2021-2025 |
USD 104.92 billion |
Market structure |
Fragmented |
YoY growth (%) |
2.12 |
Regional analysis |
APAC, North America, Europe, MEA, and South America |
Performing market contribution |
APAC at 45% |
Key consumer countries |
US, China, Japan, France, and Germany |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
Aramark Corp., bartlett mitchell Ltd., CH and Co Catering Group Ltd., Delaware North Companies Inc., Deutsche Lufthansa AG, Dine Contract Catering Ltd., DO & CO Aktiengesellschaft, DoorDash Inc., Elior Group SA, and The Emirates Group |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Key Topics Covered:
- Executive Summary
- Market Landscape
- Market Sizing
- Five Forces Analysis
- Market Segmentation
- Customer landscape
- Geographic Landscape
- Vendor Landscape
- Vendor Analysis
- Appendix
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
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