Global Catering Market which reached a value of over $150 Bn in the year 2022. The food service industry is further expected to grow at a robust CAGR by 2027, says a report by Ken Research
1. Contract Catering is the main revenue generating segment in Global Catering Market.
In the following two years, the global market for contract careering is predicted to expand at a 4.02% CAGR. To provide culinary services for staff, employees, guests, and customers, large-scale organizations such as educational institutions, corporations and industries, hospitals, and event planners utilize contract caterers. Contract catering services include the benefits of increased accountability from the caterer, consumer convenience, and legal compliance with food safety and hygiene regulations. Thus, one of the most widely used categories of catering services is contract catering. According to a survey, more than 50% of respondents stated they would buy things that were made specifically for them.
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2. COVID-19 is one of the most significant threats that the catering industry has ever faced.
The catering industry has been fundamentally threatened by the pandemic caused by COVID-19. The catering companies that survive are the ones that understand how the world will return and plan accordingly. These catering companies started adapting accordingly so they can overcome this challenge, some of these techniques are
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3. The market is expanding as a result of consumers’ rising demand for fresher, healthier foods.
Customers’ growing preference for fresher, healthier foods is boosting the global catering services market. Catering service providers have shifted their focus to providing healthier meals made in-house with fresh ingredients. Specialized catering services are becoming more popular as global multinational corporations rapidly expand in emerging markets. Catering businesses now offer healthy dining options such as organic meals, a balanced vegan diet, and healthy snacks as a result of the worldwide trend of increasing health consciousness.
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