Catering Services Market size to record USD 187.56 Bn growth | Driven by increasing popularity of online catering | Technavio
NEW YORK, June 27, 2022 /PRNewswire/ -- The "Catering Services Market by Service and Geography - Forecast and Analysis 2020-2024" report by Technavio estimates the market size to increase by USD 187.59 billion between 2019 and 2024. The market observed a YOY growth of 6.03% in 2020 and the growth momentum is expected to accelerate at a CAGR of 6.1% during the forecast period. The market will witness significant growth in APAC and the region is creating significant growth opportunities for vendors operating in the market. The growing preference for dining in the office is increasing the demand for the catering services market in APAC.
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Vendor Landscape
The catering services market is fragmented, and the degree of fragmentation will accelerate during the forecast period. The market is characterized by the presence of international players and many regional players. Vendors in the market compete on factors such as pricing, multi-year contracts, and the introduction of new technologies and new equipment that aid in providing enhanced services. Technavio identifies Aramark, bartlett mitchel Ltd., Compass Group Plc, Delware North Companies Inc., Deutsche Lufthansa AG, DO & CO Group, Elior Group, Emirates Flight Catering Co., gategroup, and Newrest Group Services SAS as some of the major market participants.
Although the increasing popularity of online catering, the introduction of new food menus, and increasing promotional initiatives will offer immense growth opportunities, fluctuations in food commodity prices, growing preference for home-cooked foods, and rising risks with suppliers will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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Catering Services Market 2020-2024: Segmentation
The catering services market is segmented as below:
Service
Contract Catering Services
Concession Catering Services
The revenue generation by the contract catering services segment will be significant during the forecast period. The growth of the segment is driven by the increasing number of opportunities and catering service contracts offered by institutions.
Geography
APAC
North America
Europe
South America
About 46% of the overall market growth will generate from APAC during the forecast period. Rapid urbanization coupled with the increasing working population in emerging countries such as China and India is creating significant growth opportunities for market players. In addition, increasing income levels and the growing demand for fast food is driving the growth of the regional market.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our catering services market report covers the following areas:
We provide a detailed analysis of around 25 vendors operating in the catering services market. Backed with competitive intelligence and benchmarking, our research report on the catering services market is designed to provide entry support, customer profile, and M&As as well as go-to-market strategy support.
Leading companies, competitive strategies, consumer engagement scope
Companies profiled
Aramark, bartlett mitchel Ltd., Compass Group Plc, Delware North Companies Inc., Deutsche Lufthansa AG, DO & CO Group, Elior Group, Emirates Flight Catering Co., gategroup, and Newrest Group Services SAS
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 the 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.
Table Of Contents :
1 Executive Summary
2 Market Landscape
2.1 Market ecosystem
Exhibit 02: Market characteristics
Exhibit 03: Value Chain Analysis: Restaurant market
2.2 Value chain analysis
3 Market Sizing
3.1 Market definition
Exhibit 05: Market segments
3.2 Market segment analysis
3.3 Market size 2020
Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ billion)
3.4 Market outlook: Forecast for 2020 - 2025
Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)
Exhibit 51: CH and Co Catering Group Ltd. - Overview
Exhibit 52: CH and Co Catering Group Ltd. - Product and service
Exhibit 53: CH and Co Catering Group Ltd. ? Key news
10.5 CH and Co Catering Group Ltd.
Exhibit 54: CH and Co Catering Group Ltd. - Key offerings
Exhibit 55: Delaware North Companies Inc. - Overview
Exhibit 56: Delaware North Companies Inc. - Product and service
Exhibit 57: Delaware North Companies Inc. - Key offerings
10.6 Delaware North Companies Inc.
Exhibit 58: Deutsche Lufthansa AG - Overview
Exhibit 59: Deutsche Lufthansa AG - Business segments
10.7 Deutsche Lufthansa AG
Exhibit 60: Deutsche Lufthansa AG - Key offerings
Exhibit 61: Deutsche Lufthansa AG - Segment focus
Exhibit 62: Dine Contract Catering Ltd. - Overview
Exhibit 63: Dine Contract Catering Ltd. - Product and service
Exhibit 64: Dine Contract Catering Ltd. - Key offerings
10.8 Dine Contract Catering Ltd.
Exhibit 65: DO & CO Aktiengesellschaft - Overview
Exhibit 66: DO & CO Aktiengesellschaft - Business segments
10.9 DO & CO Aktiengesellschaft
Exhibit 67: DO & CO Aktiengesellschaft - Key offerings
Exhibit 68: DO & CO Aktiengesellschaft - Segment focus
Exhibit 69: DoorDash Inc. - Overview
Exhibit 70: DoorDash Inc. - Business segments
Exhibit 71: DoorDash Inc. - Key offerings
10.10 DoorDash Inc.
Exhibit 72: Elior Group SA - Overview
Exhibit 73: Elior Group SA - Business segments
Exhibit 74: Elior Group SA - Key offerings
10.11 Elior Group SA
Exhibit 75: Elior Group SA - Segment focus
Exhibit 76: The Emirates Group - Overview
Exhibit 77: The Emirates Group - Business segments
Exhibit 78: The Emirates Group - Key offerings
10.12 The Emirates Group
Exhibit 79: The Emirates Group - Segment focus
11 Appendix
11.1 Scope of the report
Exhibit 80: Currency conversion rates for US$
11.2 Currency conversion rates for US$
Exhibit 81: Research Methodology
11.3 Research methodology
Exhibit 82: Validation techniques employed for market sizing
Exhibit 83: Information sources
Exhibit 84: List of abbreviations
11.4 List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus 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 consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. 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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