Rise In Customized Food Preferences to Drive Catering Market over Forecast Period: Ken Research

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Catering service consists of offering food service over hotels, entertainment areas, events, pubs, aircrafts, hospitals, and many others. Catering services are further operated by hired/professional cooks dedicated to prepare food or preparing food as per the menu finalized by the client and then taking a delivery to client. The catering also includes the food related services provided by vendors with right over various parties, corporate events, and any of the personal get-togethers. Based upon the client’s needs the service provider finalizes the food menu which will be served at the event. The catering services can said as key factor in deciding the success of any event. Moreover, the catering services are not just as limited to provide food service, but it also ensures that guest are being greeted and welcomed further ensuring and noting the service feedbacks.

Catering Services IndustryLargely there different types of catering activities that can be designed as per the key occasions such as wedding, corporate, concessions and any of the social events. The catering activities are customized for the personal small get together or the birthday party or the house warming and many others. In the coming years further the large scale events and activities are expected to involve the corporate and business groups are expected to support the increase in business scope of catering services industry over the upcoming years. Moreover, further rise in capability of customer spending over parties is further creating the demand and profit margin for the catering industry over the forecast period.

Some of the key players operating in the catering industry are Sodexo, Cushman & Wakefield, WSH, GateGroup, Compass Group PLC, Newrest, ABM Catering Solution, Aramark, Elior Group, DO & CO, and SV Group.

Based on type, catering is segmented as contractual catering and non-contractual and by end-user, market is segmented as industrial, healthcare, hospitality, in-flight, educational and many others. Moreover, the online catering is also emerging out to be as gaining the popularity worldwide permitting consumers for easy ordering of food items from their website. Moreover, the online platforms have further permitted the vendors in order to analyze the customer preferences by using the analytics features, offering customized products and deliveries as per the demand. The rise in the health awareness by the consumers led to rise in obesity and heart disease and concerns that have led to the preference of healthier and wholesome foods being served by the expert caterers. Many of the caterer’s service providers have further started adding the healthy food items in their menus. The other factors expected to drive catering business includes the marketing activities done by vendors, coupled with the introduction to new food menus with a significant impact related to growth of catering market over the forecast period. Based on the geography the Asia Pacific region is largest catering services market offering the large scale growth for companies. Moreover, the rise in preference for the dine in-office, coupled with hectic work from home lifestyles have also led to demand of online food service and catering considerably and it is expected to raise demand may significantly influence the catering services market globally.

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Catering Services Market

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Ken Research

Ankur Gupta, Head Marketing & Communications

Ankur@kenresearch.com

+91-9015378249

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