Catering is the
business that offers food service at numerous locations such as hotel, park,
entertainment site, event venue, pub, aircraft, hospital, cruise ship, and
filming site. Catering services largely operated by their own
cooks preparing food, or by getting food prepared by outsourced by third party
delivery to the client. The catering also refers to services providing the
quality food services over various parties, corporate events, and the personal
get-togethers. Based on the requirement client’s designs and finalizes upon
need of the event, menu to be served during the event. Catering services act as backbone to all events. The catering
services are not limited to providing food, ensuring guest welcome, and also
ensure guests are catered well and registering their feedbacks.
Majorly there are four types of catering services designed as per key
occasions such as wedding catering, corporate catering, concession catering and
social event catering. The catering
services are also customized for personal catering as well which includes
birthday party arrangements, catering for some small yet significant events
like house warming and so on. The large scale demand for activities involved in
businesses and high-income groups is expected to support and enlarging scope of
the catering services industry over upcoming years. Moreover, rise in customer
spending in parties and altered operations will further generate profit margin
in the forecast period.
Some of the key players operating
in the catering services market are Sodexo, Cushman & Wakefield, WSH, Gate Group,
Compass Group PLC, Newrest, ABM Catering Solution, Aramark, Elior Group, DO
& CO, and SV Group.
Based on type, catering market can
be segmented as contractual catering and non-contractual and based on end-user,
market can be segmented into industrial, healthcare, hospitality, in-flight,
educational and many others. The online catering is also gaining huge
popularity across the globe allowing the consumers to order food from the
website. The online platforms have allowed vendors for analyzing customer
preferences by using analytics, offering products as per the customer demands.
The catering vendors are also partnering with logistics companies to achieve
timely delivery of the selected food item, this have led to increase in their operational
efficiency.
Increase in health awareness among
consumers amid to rise in obesity rise in heart concerns have led to preference
for the healthier and wholesome foods served by expert caterers. The poke bowls
and superfood are further expected to witness substantial demand for both
corporate and celebratory events. Many caterers have started bringing together
healthy food items in their menus,
Some of the other key factors
driving factors such as innovative marketing activities by vendors, coupled
with introduction of new food menus expected to have a significant impact on
growth of the catering services
market over the forecast period. The Asia Pacific region is the largest
catering services market share offering large scale several growth opportunities
to all catering services companies
over the forecast period. The rise in preference for dining in-office, and
followed by hectic lifestyles have led to decline in time spent on cooking is
further expected to raise demand may significantly influence the catering
services market globally.
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