The demand from the public sector in the country and increasing demand for locally produced fresh farm produce, including fruits, vegetables, and meat items, are some of the major factors that are contributing to the increase in the share of the Catering Services Market in India.
Consumer preference for fresher and healthier food: Between 2017 and 2022, the catering market in India grew dramatically owing to the rising consumer preference for fresher and healthier. Hotels, event management organizations, and private people are the main end customers of catering services in India. The market also provides possibilities for food catering such as mobile catering, airline catering, and show catering. Furthermore, through their in-house kitchen staff or a third-party provider, universities, institutions, and corporate offices also readily accept these services.
Alliances to Expand Operations: Food catering companies are forming alliances to serve food to schools, colleges, and universities. They are also involved in the development of mobile apps that provide tailored food options to meet the needs of each individual. For instance, in March 2021, Sodexo, the foodservice and facilities management company, announced a partnership with HelloFresh, the meal kit leader, to deliver HelloFresh and EveryPlate meal kits to students at more than 300 colleges and universities in the United States. Students can pre-select, order, and schedule meal kits for delivery using Sodexo's BiteU app. Whether students are vegetarian, on a low-calorie diet, or looking for something quick and easy, HelloFresh allows them to choose from a varied and changing weekly menu. EveryPlate is a rotating menu of simple and affordable chef-curated recipes, including vegetarian and gourmet options.
License for catering business: In order to continue with operations linked to any stage of manufacture, storage, packing, processing, catering services, import, including catering services, food services, sale of food, as well as the sale of food ingredients, one must get the FSSAI license. Additionally, a health trade license was created in order to give the public's health the utmost priority. The State Municipal Corporation or the State Health Department is the local civil body that provides this license. Moreover, all types of catering companies must have a Food Establishment License, which they may only receive after passing the inspection procedure required by state compliance.
Sharp decline during the pandemic: During the COVID-19 pandemic, India's Catering Service market saw a sharp decline in revenues. The major reason for the decline was the strict lockdowns enforced by the government to restrict consumers to their households. According to the National Restaurant Association of India (NRAI), 25% of catering businesses closed shop completely in FY21, resulting in over 2.3 million jobs lost. Although normalcy has kicked in amid the steady vaccination campaign, it may take time for the catering industry to recover fully.
Analysts at Ken Research in their latest publication “India Catering Services Market Outlook To 2027F - By Event Catering, Industrial, Education, Flight, Healthcare, Corporate, and Other Catering” observed the potential of the Catering Services Market in India. The rising population, increasing need for industry players in the organized sector, increasing number of companies, growing emphasis on the adoption of technology to improve the customer experience, growing health consciousness, and increase in the growing penetration of mobile-based payment solutions is expected to contribute to the market growth over the forecast period. India’s Catering Services Market is expected to grow at ~% CAGR over the forecasted period 2022-2027F.
Key Segments Covered in the report:-
India Catering Service Market
By Type
Contract catering
Non-Contract catering
By Length of Contract
Short-Term
1 year
More than 1 year
Request For Sample Report @ https://www.kenresearch.com/sample-report.php?Frmdetails=NTk2Mjk1
By End Users
Industrial
Government
In-Flight
Corporate
Education
Event
Healthcare
Others
Key Target Audience
Airline Catering Companies
Fine Dining Caterers
School Caterers
Hotels
Industrial Caterers
Government Bodies
Facility Management Companies
Industries
Schools
Hospitals
Time Period Captured in the Report:-
Historical Year: 2017-2022
Base Year: 2022
Forecast Period: 2022– 2027F
Request For Customization @ https://www.kenresearch.com/ask-customization.php?Frmdetails=NTk2Mjk1
Companies Covered:-
Sodexo
Compass India
Box8
Levy
HungerBox
LSG Sky Chefs
ABC Corp
Morrison Healthcare
Elior Group
Gate Gourmet
Chartwells Higher Education Dining Services
Canteen
Restaurant Associates
Cavier
Hot Dog on a Stick
Gulf Catering Co.
Key Topics Covered in the Report
Executive Summary of the Indian Catering Service Market
Indian Catering Service Market Introduction and Value Chain Analysis
Indian Catering Service Market Size, 2017-2022
Indian Catering Service Market Segmentation, 2022
Snapshot on Food & Beverage Industry
Best Selling MENUSs – End user segment-wise
Trends and Developments in Indian Catering Service Market
Issues and Challenges in Indian Catering Service Market
Porter's Five Forces Analysis for Indian Catering Service Market
Regulatory Framework in Indian Catering Service Market
Comparative Landscape in the Indian Catering Service Market
Indian Catering Service Market Future Outlook and Projections, 2022-2027F
Analyst Recommendations
For more insights on the market intelligence, refer to below link:-
India Catering Services Market
Related Reports by Ken Research:-
No comments:
Post a Comment