Global Contract Catering Market to Record Revenues of $264 Billion During 2018-2023 - Market Research by Arizton

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Feb 07, 2019, 09:00 ET

CHICAGO, Feb. 7, 2019 /PRNewswire/ -- According to Arizton's recent research report, the global contract catering market is projected to reach revenues of around $264 billion by 2023, growing at a CAGR of approximately 5% during 2017–2023.

Key Highlights Offered in the Report:

The emergence of the new service model, which offers an on-demand online system for ordering food with enhanced flexibility and customized meals.
Leading service providers are introducing first-class table services, exotic ingredients, flexing of offerings, and inventive ways to attract consumers.
The B&I industry covered more than 30% of the total market share in 2018.
Fixed price contracts are designed to meet the customer's satisfaction and quality standards. The segment is expected to grow at a CAGR of around 5% by 2023.
APAC dominated the market in 2018 due to the growing awareness on clean eating and increasing adoption of healthy habits.
Sodexo employed the Van Westernport pricing studies for its Sodexo signature brand limited time menu offerings and promotional items.

Key Offerings:

Market Size & Forecast by Revenue | 2017–2023
Market Growth Enablers – List of drivers, trends, restraints, and investment opportunities
Market Segmentation - Complete analysis of industry type, contract type, and geography in 11 leading countries.
Competitive Landscape - Profile of 5 key vendors and 20 other prominent players.
Overview of the facility management industry
Foodservice Industry Outlook - Catering service types and strategies for staying competitive

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Contract Catering Market- Dynamics

The exponential proliferation of 4G, RFID, mobile apps, and smartphones is changing the way food is delivered at the customer's table in the market. Several catering companies are using smart technology to provide the customer with advanced information, customized orders, and shorter waiting times.

The key drivers and trends fueling the growth of the global market are:

Increasing Popularity of the FoodXWellbeing Movement
Growth of Integrated Facilities Management Services
Rise of Fresh Food Subscriptions

Contract Catering Market– Segmentation

This market research report includes a detailed segmentation of the market by industry, contract type, and geography.

The healthcare industry is the fastest growing end-user segment, growing at a CAGR of more than 5% by 2023
The cost-plus model has a great earning potential and was the second largest segment in the global market in 2017

- Market Segmentation by Industry

B&I
Education
Healthcare
Senior Care
Others

- Market Segmentation by Contract Type

Fixed Price
Cost-Plus
Other

Contract Catering Market- Geography

The global contract catering market by geography is divided into North America, Europe, APAC, and ROW. Personalization of food items, fast services, and convenience are some of the main factors attributing to the growth of the market in North America.

Market Size & Forecast | 2017–2023

Revenues
Leading Countries

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- Market Segmentation by Geography

APAC
North America
Europe
ROW

- Key Countries Profiled in the report:

US
Canada
France
UK
Italy
Turkey
Japan
China
India
Brazil
Mexico

Major Vendors in the Global Market are:

Aramark Services
Compass Group
Elior Group
Sodexo
WSH

Other prominent vendors include ABM Catering Solutions, Amadeus Food, Atalian Servest, Barlett Mitchell, Blue Apple Catering, Camst, Caterleisure Group, CH & CO Catering, CIR Food, Connect, Dine Contract Catering, Fazer Food Services, The Genuine Dining Co., Interserve Catering, ISS World Services, Mitie Catering Services, OCS Group, Olive Catering Services, SV Group, and Vacherin.

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About Arizton:

Arizton – Advisory and Intelligence is a premium and innovation-driven firm, which offers cutting-edge research solutions to clients worldwide. We excel in providing comprehensive market intelligence reports and advisory and consulting services.

We offer comprehensive market research reports on industries such as consumer goods & retail technology, automotive and mobility, smart tech, healthcare, and life sciences, industrial machinery, chemicals and materials, IT and media, logistics and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.

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SOURCE Arizton Advisory & Intelligence