The Catering industry comprises of businesses such as food, beverages and other services availed by large population, often for their special events. The catering industry ranges from small private events to large events involving the provision of food & drink, tableware, bed linen, service, waiters & staff, and other aspects of the event. Catering is mainly categorized into on-premises catering and off-premises catering. On-premise catering refers to food prepared & served in one place for a group of people. Additionally, the off-premise catering serves food at distant location away from the supplier's food production facility.
Catering service generally provide food for large scale meetings, conferences, parties, and other events. These services can also be extended to the provision of meals for institutions such as schools, universities and corporate offices. They have their own kitchen staff in-house or have hired an outside source to procure the food.
Catering services market is majorly
driven by the FDA's strict rules and regulations to monitor or control the
quality and standards of the food served, increasing the global food safety and
demand for outsourcing catering services to a trusted source. Additionally,
rise in demand for ready-to-eat outdoor food & accessibility across the
globe is another major driven factor for this market. Apart from this, high
cost of maintaining consistency may impact the market. Moreover, rise in demand
from schools, offices, cafeterias, colleges, restaurants and increase in number
of fast food companies, who are accepting catering & food service in order
to enhance their presence are leading opportunities for market. Furthermore,
growth in popularity of healthy & hygienic food for the consumers and high
adoption owing to better packaging, catering and food service are key trends
for global catering
market. In addition, hygiene of food items by using a large labor force
is a major challenge for the market.
The Catering market is evolving as some corporate offices use catering
as a tool to attract and retain talent. Various companies are showcasing their
dining services as an attraction by offering an additional employee benefit,
rather than just a meal to attract & retain the talent. Companies are also
providing customized menus & dining experiences to the employees at a
subsidized rate, which is becoming the norm for attracting & retaining top
talent through increased satisfaction and sophistication. This holistic dining
experience also encourages employees to dine together and develop a sense of
belonging to the company. As a result, many themed restaurants and excellent
restaurants have emerged on campus.
Due to growing health awareness
around the world, Catering services include healthy eating options such as
organic food, a balanced vegan diet and healthy snacks. Fresh local produce is
in high demand for vegetables, fruits and meat products, which further enhances
the Catering
market. Processed and frozen foods are avoided due to growing quality
and safety concerns. The increasing penetration of mobile-based payment
solutions offers customers the convenience of making payments via online
wallets without having to carry cash with them, while reducing the time taken
for payments at the counter, which further strengthens the growth of the market
for catering services.
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Catering
Market Research Report
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Ken Research
Ankur Gupta, Head Marketing &
Communications
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