Global Contract Catering Market worth $264 billion by 2023

ReportsnReports.com adds "Contract Catering Market - Global Outlook and Forecast 2018-2023" report to its research store. Key major players are Compass Group, Sodexo, Elior Group, Aramark Services and WSH

The report considers the present scenario of the global contract catering market and its market dynamics for the period 2018-2023. It covers a detailed overview of various market growth enablers, restraints, and trends. The study covers both the demand and supply sides of the market. It also profiles and analyzes the leading companies and several other prominent companies operating in the market.

The top vendors are offering flexibility through new service models that leverage an on-demand online system and ad-hoc workplace food offer minus the requirement for on-site facilities and services to gain a larger market share. The caterers are implementing predictive analytics to improve the operational efficiency of catering services, reduce wastage, and speed up the procurement cycle in the market. The global contract catering market is driven by introducing the signature brand, limited time menu offerings, and promotional items.

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The leading vendors are offering value additions such as employee support, training, and guaranteed service-level agreements to gain a larger market share. The market research report provides in-depth market analysis and segmental analysis of the global contract catering market by industry, contract type, and geography.

The major vendors in the global contract catering market are:
• Compass Group
• Sodexo
• Elior Group
• Aramark Services
• WSH

The increasing focus on wellbeing and health by several businesses, hospitals, educational institutions, and aged care centers is driving the growth of the global catering market. The growing awareness of better health and wellbeing is encouraging employers and institutions to change their eating habits for the better behavioral cues, educating about nutrient quality, and building healthier choices. The growing popularity of home meal replacements and fresh food subscription services is encouraging companies to launch new healthy meal plans and products in the global market.

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Fixed priced contracts occupied the largest market share in 2017, growing at a CAGR of approximately 5% during the forecast period. The others contract type includes nil subsidy contracts where the caterer recovers its overhead costs and earnings from the gross profit that it earns from sales, at no risk or cost to the client. The increasing trend of implementing lesser risk-free contracts is propelling the growth of this segment in the global market.

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Key market insights include:

1. The analysis of global contract catering market provides market size and growth rate for the forecast period 2018-2023.

2. It offers comprehensive insights into current industry trends, trend forecast, and growth drivers about the global contract catering market.

3. The report provides the latest analysis of market share, growth drivers, challenges, and investment opportunities.

4. It offers a complete overview of market segments and the regional outlook of the global contract catering market.

5. The report offers a detailed overview of the vendor landscape, competitive analysis, and key market strategies to gain competitive advantage.

Related Report:

Global Contract Catering Market: Size, Trends & Forecasts (2018-2022): The global contract catering market is supported by various growth drivers such as growing middle class population, rising focus on patients in hospitals, emergence of multi-service contracts, adoption of digital enriched services etc. Yet the market faces some challenges which are obstructing the growth of the market. Some of the major challenges faced by the industry are: increasing food safety issues, meeting client expectations and stringent government regulations.

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Release ID: 476023