Global Catering Market Growth, Trends, Outlook To 2027: Ken Research

What is the Size of Global Catering Industry?

Global Catering Market is growing at a CAGR of ~% in 2017-2022 and is expected to reach USD ~ Bn by 2027.

The Global Catering Market is largely driven by urbanization and changing lifestyles.

There has been a change in the demand for catering services in recent years, supported by the quickly developing business-to-business (B2B) events sector and food and beverage services being offered at a growing number of corporate events. Furthermore, the market for catering services is growing because of factors including hectic lifestyles and difficulties associated with cooking at home.

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The growing preference among customers for fresher, healthier foods is boosting the worldwide catering services market.

The catering service operators have shifted their emphasis to providing healthier meals made in-house using fresh ingredients. The market is expanding because of the increased focus on implementing technology to enhance the customer experience and minimize time spent waiting for food.

Global Catering Market by service type

The Global Catering Market is segmented by service type into contractual and non-contractual. There is a preference towards the contractual catering service segment as contract catering has emerged as a cost-effective way of managing food services in a very less stressful manner for various events. Owing to this, contract catering is being rapidly adopted across diverse sectors, including education, corporate, healthcare, defense, sports, senior care, aerospace, etc.

Global catering Market by end user

The Global Catering Market is segmented by end-user type into healthcare, corporates, education, hospitality, industrial, in-flight and others. The event sector has the largest share as events and function happens in all the other sectors and they need catering services.

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Global catering Market by region

The Global Catering Market is segmented by region into North America, Europe, Asia-Pacific, Middle East & Africa and South America. The Asia-Pacific has the largest share in all the region owning to hectic lifestyle, urbanization, taste and preferences.

Global catering Market by basis of applications

The Global Catering Market is segmented by basis of applications type into wedding caterings, corporate caterings, social events catering and others.

Competition Scenario in global catering Market

Global Catering Market is at growing stage and has highly fragmented market. There more than 50 thousand players in market. Top players such as Compass Group Plc, Aramark Corporation and AVI Food Systems in Global Catering Market hold major market share. The market is largely driven by rising demand for healthier fresh food and international cuisine and rising culture of on-site catering.

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What is the Expected Future Outlook for the catering Market Across the globe?

The Global Catering Market was valued at USD ~billion in 2022 and is anticipated to reach USD ~billion by the end of 2027, witnessing a CAGR of ~% during the forecast period 2022-2027. The realistic growth scenario represents the most likely scenario as per current market conditions. This scenario assumes that there will be no overall impact on the market due to any potential COVID-19 waves in the future.

 The Global Catering Market is driven by customers' growing preference for fresher, healthier foods is driving growth in the global catering services market.

 Catering service providers have shifted their focus to providing healthier meals prepared in-house with fresh ingredients. The market is expanding as a result of a greater emphasis on implementing technology to improve the customer experience and reduce time spent waiting for food.

 Specialized catering services are becoming more popular as global multinational corporations rapidly expand into 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 rising health consciousness.

The growing demand for locally produced fresh farm produce, such as fruits, vegetables, and meat items, is fueling the catering services market.

In addition, hotels and restaurants are developing novel catering services, which are expected to fuel the catering service industry.

 Although factors such as the growing preference for home-cooked foods may impede market growth, the increasing popularity of online catering is clearly driving market growth. Our researchers examined the data with 2022 as the starting point, as well as the key drivers, trends, and challenges. A comprehensive analysis of drivers will assist businesses in refining their marketing strategies in order to gain a competitive advantage.

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Global Catering Market Outlook to 2027

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Global Catering and Food Service Contractor Market 2019

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France Fitness Service market is growing at a CAGR of ~% in 2017-2022 and is expected to reach USD ~ Bn by 2027F – Ken Research

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What Is The Size Of France Fitness Service Industry?

France Fitness Service market is growing at a CAGR of ~% in 2017-2022 and is expected to reach USD ~ Bn by 2027F. The France Fitness Service Market is largely driven by increasing avg age of the country, rising obesity rates, technological advancements, corporate wellness programs, changing lifestyles, and government initiatives.

France, like many other countries, has witnessed a rise in obesity rates. This has created a greater need for fitness services as individuals strive to maintain a healthy lifestyle, lose weight, and address obesity-related health concerns.

The integration of technology in the fitness industry has played a significant role in driving market growth. Fitness apps, wearable devices, and online training platforms have made it easier for people to track  their progress, access personalized workout routines, and receive virtual coaching, enhancing the overall fitness experience.

Many companies in France are implementing corporate wellness programs to promote employee health and well-being. These programs often include fitness services, such as gym memberships, on-site fitness facilities, and wellness initiatives, contributing to the growth of the fitness service market.

France is a popular destination for fitness tourism, attracting visitors who are interested in fitness activities, wellness retreats, and sports events. The availability of diverse fitness services, such as yoga retreats, outdoor activities, and specialized fitness centers, drives the growth of the fitness service market in the country.

France Fitness Service Market By Market Structure

The France Fitness Service market is segmented by market structure into organized and unorganized market structure.

Organized fitness service providers such as gyms, fitness centers, and boutique studios have been on the rise, driven by increasing health consciousness and the demand for professional fitness services. These organized establishments offer a structured and well-equipped environment, diverse fitness programs that attracts more customers.

The France Fitness Service market is segmented by market structure into organized and unorganized market structure. Organized fitness service providers such as gyms, fitness centers, and boutique studios have been on the rise, driven by increasing health consciousness and the demand for professional fitness services. These organized establishments offer a structured and well-equipped environment, diverse fitness programs that attracts more customers.

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France Fitness Service Market By Gender

The France Fitness Service market is segmented by gender into male and female. The industry has experienced an increasing interest in fitness among individuals of all genders, reflecting a balanced participation and demand. The market caters to the needs and preferences of both males and females, offering a wide range of fitness services and facilities to accommodate diverse goals and interests but in 2022 male still dominates the market.

France Fitness Service Market By Revenue Stream

The France Fitness Service market is segmented by revenue stream into membership, personal training and supplementary services.

On the basis of revenue model, the membership segment exhibited the highest growth in France fitness market. Memberships generally form the core revenue stream for fitness service providers, offering recurring income and long-term commitment from customers. While personal training and supplementary services contribute less to revenue, the membership segment often represents a larger customer base and consistent source of income also.

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Key Target Audience:

• Fitness Equipment Manufacturers
• Fitness Equipment Distributors
• Fitness Centres
• Government Organizations

Time Period Captured in the Report:

• Historical Period:FY’17- FY’22P
• Base Year: FY’22P
• Forecast Period: FY’23-FY’27F

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Digital Fitness Market in France

Germany Fitness Services Market Growth, Revenue, Outlook to 2027F: Ken Research

WHAT IS THE SIZE OF GERMANY FITNESS SERVICE INDUSTRY ?

Germany Fitness Service market is growing at a CAGR of ~% in 2017-2022 and is expected to reach USD ~ Bn by 2027F.

The Germany Fitness Service Market is largely driven by increasing avg age of the country, rising obesity rates, technological advancements, corporate wellness programs, changing lifestyles, and government initiatives.

There has been a notable shift in consumer behavior towards prioritizing health and wellness. More people in Germany are becoming conscious of the importance of maintaining an active lifestyle and taking care of their physical and mental well-being. This increased health consciousness has led to a growing demand for fitness services across the country.

Boutique fitness studios offering specialized workout experiences have gained popularity in Germany. These studios typically focus on specific exercise formats like yoga, Pilates, HIIT, cycling, and CrossFit, attracting fitness enthusiasts who seek a more intimate and tailored fitness experience.

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The integration of technology into fitness services has played a significant role in the market's growth. Fitness tracking devices, smartphone apps, and wearable fitness tech have become increasingly popular among German consumers.

The German government has taken steps to promote physical activity and healthy lifestyles. Public health campaigns, subsidies for sports clubs and fitness facilities, and initiatives to integrate physical education into schools have all contributed to the growth of the market.

GERMANY FITNESS SERVICE MARKET BY MARKET STRUCTURE

Germany Fitness Service market is growing at a CAGR of ~% in 2017-2022 and is expected to reach USD ~ Bn by 2027F.

The Germany Fitness Service Market is largely driven by increasing avg age of the country, rising obesity rates, technological advancements, corporate wellness programs, changing lifestyles, and government initiatives.

There has been a notable shift in consumer behavior towards prioritizing health and wellness. More people in Germany are becoming conscious of the importance of maintaining an active lifestyle and taking care of their physical and mental well-being. This increased health consciousness has led to a growing demand for fitness services across the country.

Boutique fitness studios offering specialized workout experiences have gained popularity in Germany. These studios typically focus on specific exercise formats like yoga, Pilates, HIIT, cycling, and CrossFit, attracting fitness enthusiasts who seek a more intimate and tailored fitness experience.

The integration of technology into fitness services has played a significant role in the market's growth. Fitness tracking devices, smartphone apps, and wearable fitness tech have become increasingly popular among German consumers.

The German government has taken steps to promote physical activity and healthy lifestyles. Public health campaigns, subsidies for sports clubs and fitness facilities, and initiatives to integrate physical education into schools have all contributed to the growth of the market.

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GERMANY FITNESS SERVICE MARKET BY MARKET STRUCTURE

The Germany Fitness Service market is segmented by market structure into organized and unorganized market structure.

Organized fitness service providers such as gyms, fitness centers, and boutique studios have been on the rise, driven by increasing health consciousness and the demand for professional fitness services. These organized establishments offer a structured and well-equipped environment, diverse fitness programs that attracts more customers

 

GERMANY FITNESS SERVICE MARKET BY GENDER

The Germany Fitness Service market is segmented by gender into male and female.

The industry has experienced an increasing interest in fitness among individuals of all genders, reflecting a balanced participation and demand

The market caters to the needs and preferences of both males and females, offering a wide range of fitness services and facilities to accommodate diverse goals and interests but in 2022 male still dominates the market

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GERMANY FITNESS SERVICE MARKET BY REVENUE STREAM

The Germany Fitness Service market is segmented by revenue stream into membership, personal training and supplementary services.

On the basis of revenue model, the membership segment exhibited the highest growth in Germany fitness market. Memberships generally form the core revenue stream for fitness service providers, offering recurring income and long-term commitment from customers. While personal training and supplementary services contribute less to revenue, the membership segment often represents a larger customer base and consistent source of income also.

GERMANY FITNESS SERVICE MARKET BY SUBSRICTION

The Germany Fitness Service market is segmented by subscription into 1 month, 3 months, 6 months, 1 year.

3 months subscription plan has the highest share as it budgets friendly for new joiners

GERMANY FITNESS SERVICE MARKET BY SESSION TYPE

The Germany Fitness Service market is segmented by session type into group and solo.

In 2022, group sessions gained popularity in the Germany fitness service market due to their ability to foster a sense of community, motivation, and social interaction among participants. Not only are group sessions cost-effective, but they also provide the opportunity to accommodate a larger number of individuals, making them attractive to a broader audience.

COMPETITION SCENARIO IN GERMANY FITNESS SERVICE MARKET

The fitness service market in Germany exhibits intense competition, characterized by varied offerings catering to different consumer preferences. Despite the challenges posed by recent health crises, the industry sees a paradigm shift towards digital and home-based fitness solutions, with traditional gyms reinventing their strategies. Increasing awareness about physical health and wellness keeps consumer demand high. However, the market faces headwinds due to rising competition from budget-friendly, online fitness platforms.

The industry also grapples with the volatility due to ongoing pandemic-related restrictions, yet remains resilient, with a positive long-term growth trajectory forecasted, driven by technology and innovative business models.

WHAT IS THE EXPECTED FUTURE OUTLOOK FOR THE OVERALL GERMANY FITNESS SERVICE MARKET ACROSS THE GLOBE?

The Germany Fitness Service market was valued at USD ~billion in 2022 and is anticipated to reach USD ~billion by the end of 2027F, witnessing a CAGR of ~% during the forecast period 2022-2027F. The realistic growth scenario represents the most likely scenario as per current market conditions. This scenario assumes that there will be no overall impact on the market due to any potential COVID-19 waves in the future.

The Germany Fitness Service market is driven by increasing avg age of the country, rising obesity rates, technological advancements, corporate wellness programs, changing lifestyles, and government initiatives.  However, the market is also constantly being influenced by rapid development in technology, product innovation, and diversification in some countries.

Germany has one of the oldest populations in the world, with approximately 22% aged 65 or over in 2023. The elderly demographic's focus on fitness for healthy aging is driving the growth of fitness services designed for their needs.

The German government promotes physical fitness and health awareness, such as the "IN FORM" initiative, which aims to improve national health in the long term

Germany has one of the highest GDP per capita in Europe, approximately $42,000 in 2023, allowing more individuals to afford fitness services and memberships. High disposable incomes facilitate larger expenditures on health and fitness services, which will be a major growth driver for the market.

As of 2023, nearly 53% of the German population is overweight or obese, encouraging a surge in fitness consciousness and increasing the demand for fitness services.

In 2023, urban population makes up around 76% of the total population in Germany. Urban dwellers tend to have higher fitness center memberships, thus driving the market growth.

With an internet penetration rate of over 89% in 2023, Germany offers considerable scope for online fitness platforms, live-streamed workouts, and fitness apps.

Approximately 42% of corporations in Germany offered fitness-related wellness programs for their employees in 2023, supporting the growth of the fitness service market.

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Germany Fitness Services Market Outlook to 2027F

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Mexico Car Finance Trends, Market, Revenue, Outlook 2027F: Ken Research

What is the Size of Mexico Car Finance INDUSTRY?

Mexico Car Finance Market is growing at a CAGR of ~% in 2017-2022 and is expected to reach ~USD Bn by 2027F.

The Car Finance Market is largely driven by growing middle-class population, rising vehicle sales, urbanization, accessible financing options, and partnerships with automakers.

The growing demand for auto financing in Mexico can be observed through increased vehicle sales. For example, according to the Mexican Automotive Industry Association (AMIA), new vehicle sales in Mexico surged by 22.2% in the first half of 2021 compared to the same period in the previous year.

Auto finance companies in Mexico offer diverse financing options to cater to different customer needs.

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instance, they provide traditional car loans with varying interest rates and terms, as well as leasing options that allow customers to use a vehicle for a specific period without full ownership.

The expanding middle-class population in Mexico is driving the demand for car financing. As more individuals enter the middle-income bracket, their purchasing power and desire for vehicle ownership rise.

The adoption of digital platforms and technological advancements have transformed the car finance industry. Online loan applications, digital documentation, and automated processes have improved the efficiency and convenience of obtaining car financing which has fueled the growth in the market.

MEXICO CAR FINANCE MARKET BY TYPE:

The Mexico Car Finance market is segmented By Type into New Car and Used Car.

Used car segments dominates the car finance market in Mexico in 2022.

Due to the country's economic conditions, affordability considerations, and the availability of a diverse range of used vehicles in the market. The used car segment often attracts a larger customer base due to lower purchase prices and potentially more flexible financing options, making it a popular choice among consumers looking for cost-effective transportation solutions.

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MEXICO CAR FINANCE MARKET BY TYPE OF CAR

The Mexico Car Finance Market is segmented By Type of Car Hatchback, Sedan, SUV, Multipurpose and others.

Sedan cars dominates the market in 2022, followed by SUVs.

Sedans have traditionally been popular in the Mexican market due to their versatility, affordability, and fuel efficiency. Sedans cater to a wide range of customers, including individuals, families, and professionals, making them a versatile choice for various purposes. Additionally, sedans often offer competitive pricing compared to SUVs and multipurpose vehicles, making them more accessible for customers seeking auto financing.

MEXICO CAR FINANCE MARKET BY TYPE OF INSTITUION

The Mexico Car Finance market is segmented by type of institution into Bank, NBFC and Captives.

Banks Dominates the Mexico car finance market in 2022.

Banks have a strong presence in the financial sector and often have well-established lending capabilities and extensive customer bases. They are typically associated with offering a wide range of financial services, including auto financing, and have the resources to provide competitive interest rates and flexible loan terms. Banks brand reputation, trustworthiness, and extensive branch networks position them as preferred choices for many customers seeking auto financing.

MEXICO CAR FINANCE MARKET BY TENURE

The Mexico Car Finance market is segmented by Tenure into 3-4 years & 4-5 years.

3-4 years loan tenure is more preferred by the customers in Mexico in 2022.

3–4-year tenure is commonly preferred by customers due to several reasons. Firstly, it aligns with typical ownership periods for many individuals who prefer to upgrade their vehicles within a few years. Secondly, a shorter tenure generally results in lower interest costs and faster loan repayment. This appeals to customers seeking to minimize overall interest expenses and have the flexibility to change vehicles more frequently.

MEXICO CAR FINANCE MARKET BY PRICE

The Mexico Car Finance market is segmented by Price into High (500,000+), Medium (200k-500k) and Low (below 200K).

Medium (200k-500k) is the dominant segment in the market in 2022.

Firstly, it covers a wide range of vehicles that cater to various customer preferences and needs. Secondly, the medium price segment represents a balance between affordability and features, making it appealing to a significant portion of the market. Lastly, financing options are typically more accessible for medium-priced vehicles, attracting a larger customer base.

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MEXICO CAR FINANCE MARKET BY MODE OF BOOKING

The Mexico Car Finance market is segmented by Mode of Booking into Online and Offline.

Online segment dominates the Mexico car finance market in 2022.

The growth of e-commerce and digital platforms has significantly influenced consumer behavior, including the way they research and purchase vehicles. Online booking offers convenience, accessibility, and the ability to compare financing options and terms from various providers. Additionally, the COVID-19 pandemic has accelerated the adoption of online channels for car finance transactions

COMPETITION SCENARIO IN MEXICO CAR FINANCE MARKET

The Mexico auto finance market is highly competitive, with several players vying for market share. These companies offer a range of financing options to cater to different customer segments. The market is characterized by competitive interest rates, flexible loan terms, and diverse promotional campaigns.

Digitalization has become increasingly important, with many finance companies offering online platforms and mobile applications for convenient loan applications and account management. Transparency and customer service have become focal points, with companies striving to provide clear fee structures and efficient support. Overall, the current market scenario reflects a competitive landscape where finance companies continuously innovate to attract and retain customers

WHAT IS THE EXPECTED FUTURE OUTLOOK FOR THE OVERALL MEXICO CAR FINANCE MARKET?

The Mexico Car Finance market was valued at USD ~billion in 2022 and is anticipated to reach USD ~billion by the end of 2027F, witnessing a CAGR of ~% during the forecast period 2022-2027F. The realistic growth scenario represents the most likely scenario as per current market conditions. This scenario assumes that there will be no overall impact on the market due to any potential COVID-19 waves in the future.

The Mexico Car Finance market is driven by growing middle-class population, rising vehicle sales, urbanization, accessible financing options, and partnerships with automakers. However, the market is also constantly being influenced by rapid development in technology, product innovation, and diversification in some countries.

For instance, in February 2023 BYD, the world’s leading manufacturer of new energy vehicles, recently formed a strategic partnership with Santander Bank (Santander) in Mexico, a multinational banking group for Auto financial solutions in Mexico. This partnership seeks to facilitate access to all new energy BYD vehicles to customers and non-customers of the Bank with an offer of a 10% down payment and financing of up to 72 months, in addition to plans with 0% commission for opening.

Mexico's projected economic growth and rising middle-class population indicate a positive outlook for the car finance market. As the economy strengthens, more individuals are likely to enter the middle-income bracket, leading to increased purchasing power and a higher demand for auto financing. For example, according to the International Monetary Fund (IMF), Mexico's GDP is forecasted to grow by 4.3% in 2023.

Advancement in Technology like providing personalized and convenient customer experiences. This includes offering customized financing solutions, faster loan approvals, and superior after-sales services. For instance, Banco Santander México has implemented digital tools and simplified processes to enhance the customer experience and reduce loan approval times which will further fuel the market growth.

As the global automotive industry transitions towards electric mobility, Mexico is expected to follow suit. The government's commitment to sustainable transportation and the growing availability of EV models in the market will drive the demand for EVs. This, in turn, will present opportunities for innovative financing options specific to EVs, such as subsidized interest rates or extended repayment periods.

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Mexico Car Finance Market Outlook 2027F

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Unmasking the Pain Points: Brazil's Quick Commerce Market Faces High Costs and Low Margins - Can it thrive against the Odds? : Ken Research

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Propelled by the surge in digital adoption and internet penetration during the global COVID-19 pandemic, Brazil's quick commerce market has witnessed a phenomenal rise. However, like any success story, it faces its fair share of challenges. The market is grappling with soaring operational costs, demanding technological advancements, and slim profit margins, all casting a shadow of uncertainty over its future trajectory. Will this growth narrative persevere amidst these obstacles? Let’s find out together.

1. The number of internet users increase from 150 Mn to 160 Mn in 2021; ~14% of Brazil’s Digital Market is used in online food delivery

About 81% of the population is consuming internet in 2021, compared to only 67.0% in 2018, reflecting a growth rate of 20.9% between the years.

Brazil had about 160 million Internet users in 2022, or 74.0% of the population aged ten or older.

The Brazil Digital Market is distributed between various sectors with Online Food Delivery comprising of 14.2% of total usage and 11.2% is used for Food & Personal Care means.

2. This was due to the imposition of lockdown by governing authorities that caused customers to adapt to online shopping which boosted Brazil’s Quick Commerce Market

2.1 Moreover, Contrary to traditional shopping, Q-commerce services are available 24 hours a day, and higher availability of products

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3. The increasing usage of the Internet & latest technology in services among others have been driving the growth of the Quick Commerce market in Brazil

4. However, some major challenges like high Operating Costs coupled with the latest technology requirements and low margins are faced by players operating in the market

5. But still, with changes in consumer patterns and awareness of e-commerce services post covid 19 pandemic, the growth trend of the Brazil Quick Commerce market is only expected to rise in the future

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Brazil Quick Commerce Market

Total Warehousing Space in 2027 is expected to be 60 Mn sqm (including Captives) in KSA. Will KSA Warehousing market stand on this projected figure? : Ken Research

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1.High demand of Technology warehouses with Automation especially by E-commerce companies

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Investment in technology: Adopting new technologies, such as IoT sensors and real-time monitoring systems, can help improve the efficiency and accuracy of the warehouse operations.

Collaboration with suppliers: Collaborating with suppliers to establish a well-coordinated warehousing ecosystem can help ensure the quality of temperature-sensitive products.

 2.Saudi Vision 2030

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The expansion of the logistics industry has been emphasized in Saudi Arabia's Vision 2030, a comprehensive strategy for economic diversification. The government wants to make the nation a hub for global logistics by luring foreign capital and creating a welcoming environment for storage and logistics businesses.

50% non-oil exports as percentage of GDP by 2030, up from 16% in 2016 has boosted need for warehouses in KSA.

3.Favorable Location

Major cities such as Riyadh, Jeddah, Dammam and Mecca are the most populous cities in the country and are emerging as a hot bed for warehousing since most of the industrial regions are also located nearby.

• Fastest Growing Port: King Abdullah Port (KAEC) with 4 Mn TEU Annual Capacity
• Annual Port Capacity: Saudi Arabia handles more than 8 Mn TEU Annual Capacity
• Red Sea Trade: Saudi Arabia’s ports handle more than 90% of Red Sea Trade transits and ~ 30% of the East African Trade Transits

KSA's strategic location as a gateway between Europe, Asia, and Africa makes it an attractive hub for trade. The country has been actively promoting foreign trade and industrialization, attracting international companies to set up manufacturing facilities and distribution centers. This leads to an increased demand for warehousing services to support import, export, and local supply chains.

Mexico Lubricant Market Trends, Revenue, Forecast to 2027: Ken Research

 What Is The Size Of Mexico Lubricant Industry?

Mexico Lubricant Market is growing at a CAGR of ~% in 2017-2022 and is expected to reach USD ~ Bn by 2027F.

The Mexico Lubricant Market is largely driven by country's growing industrialization, expanding automotive sector, and increasing demand for high-quality lubricants.

The increasing awareness of environmental sustainability and regulatory requirements are also driving the demand for environmentally friendly lubricants in Mexico. There is a growing preference for lubricants that have lower emissions, reduced toxicity, and improved biodegradability. Lubricant manufacturers are investing in research and development to offer eco-friendly products that meet these requirements, which further drives market growth.

 

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Mexico's strategic location and trade agreements, such as the United States-Mexico-Canada Agreement (USMCA), make it an attractive destination for international lubricant manufacturers. The country's proximity to major markets and its favorable business environment contribute to increased foreign investments and market competition, leading to growth in the lubricant sector.

Additionally, the automotive sector is another significant growth driver for the lubricant market in Mexico. Mexico has a robust automotive industry, with numerous manufacturing plants and a growing domestic market for vehicles.

Mexico Lubricant Market By Type

The Mexico Lubricant market is segmented by Type into Industrial Lubricant and Automotive Lubricant.

Mexico Lubricant Market By Origin Of Lubricant

The Mexico Lubricant market is segmented by Grade of Lubricant into Mineral, Semi-Syntenic and Synthetic.

Mexico Lubricant Market By Type Of Industrial Lubricant

The Mexico Lubricant market is segmented by type of industrial lubricant into Hydraulic Fluid, Grease, Gear Oil, Metalworking Fluid and Others (Turbine Oil, Compressor Oil, etc.)

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Mexico Lubricant Market By End Use Of Industrial Lubricant

The Mexico Lubricant market is segmented by End Use of Industrial Lubricant into Construction and Mining, General Manufacturing, Metal Production, Power Generation, Food Processing and Others (Agriculture, Medical, etc.)

Mexico Lubricant Market By Industrial Distributional Channel

The Mexico Lubricant market is segmented by Industrial Distributional Channel into Dealer Network and Direct Sales.

Mexico Lubricant Market By Type Of Automotive Lubricants

The Mexico Lubricant market is segmented by type of Automotive Lubricants into Heavy-Duty Diesel Engine Oil, Passenger Vehicle Motor Oil, Transmission Fluids, Hydraulic Oil, Greases and Gear Oils.

Mexico Lubricant Market By End Use Automotive Lubricant

The Mexico Lubricant market is segmented by End Use of Automotive Lubricant into Commercial Vehicles, Passenger Cars, Motor Cycles, Marine and Others (Aviation, Railways, etc.)

Mexico Lubricant Market By Distribution Channel

The Mexico Lubricant market is segmented by Distribution Channel into Dealer Network, OEM Workshops/Service stations/Local Workshops, Supermarkets/ Hypermarkets and Online etc.

Competition Scenario In Mexico Lubricant Market

Mexico Lubricant Market is in the growing stage. The Mexico Lubricants Market is moderately consolidated, with the top five companies occupying more than half of the market share. The major players in this market are Bardahl, BP Plc (Castrol), ExxonMobil Corporation, Roshfrans and Royal Dutch Shell Plc.

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What Is The Expected Future Outlook For The Overall Mexico Lubricant Market?

The Mexico Lubricant Service market was valued at USD ~billion in 2022 and is anticipated to reach USD ~billion by the end of 2027F, witnessing a CAGR of ~% during the forecast period 2022-2027F. The realistic growth scenario represents the most likely scenario as per current market conditions. This scenario assumes that there will be no overall impact on the market due to any potential COVID-19 waves in the future.

The Mexico Lubricant Service market is driven by country's growing industrialization, expanding automotive sector, and increasing demand for high-quality lubricants. However, the market is also constantly being influenced by rapid development in technology, product innovation, and diversification in some countries.

With the new investments and the adoption of new technologies, the lubricant market has seen a remarkable growth. For instance, In May 2022, Total Energies and NEXUS Automotive announced the extension of their strategic partnership for a duration of five years. Within this collaboration, Total Energies Lubricants plans to enhance its involvement in the thriving lubricant community. The community has experienced remarkable reaching approximately EUR ~7.0 billion in 2015 and soaring to nearly EUR 35 billion by the end of 2021.

Technological advancements and innovations in the automotive industry, such as the rise of electric vehicles (EVs) and hybrid vehicles, will influence the lubricant market in Mexico. EVs, for example, have different lubrication requirements compared to traditional internal combustion engine vehicles. Lubricant manufacturers will need to develop specialized lubricants that cater to the unique needs of these new vehicle technologies.

The future growth of the lubricant market in Mexico will be driven by increasing focus on sustainability, environmental regulations, ongoing infrastructure projects, technological advancements in the automotive industry, and the expansion of the industrial sector. These factors will contribute to the demand for eco-friendly lubricants, lubricants for construction and energy sectors, specialized lubricants for new vehicle technologies, and maintenance of machinery and equipment.

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Mexico Lubricants Market Outlook to 2027F

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KUWAIT FITNESS SERVICE INDUSTRY OUTLOOK, REVENUE, GROWTH: KEN RESEARCH

WHAT IS THE SIZE OF KUWAIT FITNESS SERVICE INDUSTRY?

Kuwait Fitness Service market is growing at a CAGR of ~% in 2017-2022 and is expected to reach USD ~ Bn by 2027F.

The Kuwait Fitness Service Market is largely driven by changing lifestyle, urbanization and rising digitization.

Also, catalyzed by the pandemic, awareness of exercise has increased rapidly with consumers shifting towards virtual classes such as using pre-recorded video and livestream classes to carry out their exercises.

Leading tech-giants are collaborating with market leaders in the fitness industry to foray into the market as consumers are inclined toward digital fitness subscriptions than traditional gym memberships.

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Furthermore, as the country's obesity rate rises, adult health consciousness rises, women's demand for fitness services rises, and there are more foreign fitness brands operating in Kuwait, the market for fitness services has expanded.

The market is now growing and has a strong chance of expanding quickly in the future. Additionally, Kuwait is seeing an increase in tech-enabled high-end fitness solutions, which are frequently supported by cult followings and solid social media profiles.

KUWAIT FITNESS SERVICE MARKET BY MARKET STRUCTURE

The Kuwait Fitness Service market is segmented by market structure into organized and unorganized market structure.

The unorganized sector has supplied the vast majority of the revenue generated by fitness services. The organized sector, which comprises institutions such as men's gyms, women's gyms, mixed gyms, and cross fit, provided the remaining market share.

 KUWAIT FITNESS SERVICE MARKET BY GENDER

The Kuwait Fitness Service market is segmented by gender into male and female.

Due to traditional restrictions connected with women in Kuwait, the market for fitness services has been primarily driven by the country's male population. Women have become more conscientious, and there has been an increase in the number of female members at various fitness service facilities across the country. Female-specific services and fitness centers are already in high demand, and this trend is expected to grow.

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KUWAIT FITNESS SERVICE MARKET BY REVENUE STREAM

The Kuwait Fitness Service market is segmented by revenue stream into membership, personal training and supplementary services.

On the basis of revenue model, the subscriptions segment exhibited the highest growth in Kuwait fitness market. It is expected to maintain its dominance in the upcoming years owing to the growing adoption of subscription-based fitness training sessions by customers due to its cost effectiveness as compared to signing up with a coach in-person.

KUWAIT FITNESS SERVICE MARKET BY SUBSRICTION

The Kuwait Fitness Service market is segmented by subscription into 3 months, 6 months, 1 year and others.

3 months subscription plan has the highest share as it budgets friendly for new joiners.

KUWAIT FITNESS SERVICE MARKET BY INCOME GROUP

The Kuwait Fitness Service market is segmented by income group into Below KWD 38,000, KWD 38,000 to KWD 94,000, KWD 94,000 to SAR 150,000 and Above KWD 150,000.

38,000 to KWD 94,000, KWD segment dominates the market as this segment represents a middle-income group that has relatively higher disposable income to spend on fitness services and wellness activities. Individuals within this income bracket are likely to prioritize their health and fitness, seeking access to quality fitness facilities, personalized training programs, and a variety of fitness classes.

KUWAIT FITNESS SERVICE MARKET BY REGION

The Kuwait Fitness Service market is segmented by Region into Northern Region, Southern Region, Western Region, Eastern Region and Central Region.

The central region dominates the market in 2022. The Central Region, which includes the capital city of Kuwait City, is typically the most populated and densely populated area of the country. It is home to a significant portion of the population, including both residents and expatriates. The Central Region has a wider range of fitness centers, gyms, and wellness facilities, catering to the higher demand from a larger population base.

COMPETITION SCENARIO IN KUWAIT FITNESS SERVICE MARKET

Kuwait Fitness Service Market is at growing stage and has fragmented market with many organized and unorganized players in market. Players are competing against each other on the basis of packages, number and type of equipment, service portfolio, fee’s structure. Al Corniche, Fitness First, Flex fitness, Circuit Plus, Palms Beach Club are few leading organized players.

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WHAT IS THE EXPECTED FUTURE OUTLOOK FOR THE OVERALL KUWAIT FITNESS SERVICE MARKET ACROSS THE GLOBE?

The Kuwait Fitness Service market was valued at USD ~billion in 2022 and is anticipated to reach USD ~billion by the end of 2027F, witnessing a CAGR of ~% during the forecast period 2022-2027F. The realistic growth scenario represents the most likely scenario as per current market conditions. This scenario assumes that there will be no overall impact on the market due to any potential COVID-19 waves in the future.

The Kuwait Fitness Service market is driven by rising obese population, demand for PT and technological development.

However, the market is also constantly being influenced by rapid development in technology, product innovation, and diversification in some countries.

Also, profitability associated with fitness services in Kuwait is highly correlated with multiple factors such as improving the effectiveness of fitness services provided, cost reduction related to equipment procurement, customer retention, and using the most up-to-date gym equipment, among others. Furthermore, the advent of integrated exercise services such as Yoga, Pilates, and Swimming will play a significant role in the income increase of the fitness industry in Kuwait.

Furthermore, despite being confined to their homes, exercise aficionados did not let their ambitions for improving their health go. Many people are inspired to create a home exercise regimen that can go beyond requirements for social distance. Specialized gyms and fitness studios start to become more and more well-liked as hectic lifestyles reduced the amount of time available for workouts.

Additionally, opening up of ladies dedicated gyms with female professional trainers to guide woman's pursuing exercises has created new segment and increased the female memberships in the country. The market growth would be facilitated by the increase in number of value-added services like Pilates, Zumba, Martial Arts, Spa, Jacuzzi, salon, aqua aerobics, yoga & others.

For More Insights On Market Intelligence, Refer To The Link Below: –

Kuwait Fitness Service market Outlook to 2027F

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Mexico Car Finance Trends, Market, Revenue, Outlook 2027F: Ken Research

 What is the Size of Mexico Car Finance INDUSTRY?

Mexico Car Finance Market is growing at a CAGR of ~% in 2017-2022 and is expected to reach ~USD Bn by 2027F.

The Car Finance Market is largely driven by growing middle-class population, rising vehicle sales, urbanization, accessible financing options, and partnerships with automakers.

The growing demand for auto financing in Mexico can be observed through increased vehicle sales. For example, according to the Mexican Automotive Industry Association (AMIA), new vehicle sales in Mexico surged by 22.2% in the first half of 2021 compared to the same period in the previous year.

Auto finance companies in Mexico offer diverse financing options to cater to different customer needs.

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instance, they provide traditional car loans with varying interest rates and terms, as well as leasing options that allow customers to use a vehicle for a specific period without full ownership.

The expanding middle-class population in Mexico is driving the demand for car financing. As more individuals enter the middle-income bracket, their purchasing power and desire for vehicle ownership rise.

The adoption of digital platforms and technological advancements have transformed the car finance industry. Online loan applications, digital documentation, and automated processes have improved the efficiency and convenience of obtaining car financing which has fueled the growth in the market.

MEXICO CAR FINANCE MARKET BY TYPE:

The Mexico Car Finance market is segmented By Type into New Car and Used Car.

Used car segments dominates the car finance market in Mexico in 2022.

Due to the country's economic conditions, affordability considerations, and the availability of a diverse range of used vehicles in the market. The used car segment often attracts a larger customer base due to lower purchase prices and potentially more flexible financing options, making it a popular choice among consumers looking for cost-effective transportation solutions.

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MEXICO CAR FINANCE MARKET BY TYPE OF CAR

The Mexico Car Finance Market is segmented By Type of Car Hatchback, Sedan, SUV, Multipurpose and others.

Sedan cars dominates the market in 2022, followed by SUVs.

Sedans have traditionally been popular in the Mexican market due to their versatility, affordability, and fuel efficiency. Sedans cater to a wide range of customers, including individuals, families, and professionals, making them a versatile choice for various purposes. Additionally, sedans often offer competitive pricing compared to SUVs and multipurpose vehicles, making them more accessible for customers seeking auto financing.

MEXICO CAR FINANCE MARKET BY TYPE OF INSTITUION

The Mexico Car Finance market is segmented by type of institution into Bank, NBFC and Captives.

Banks Dominates the Mexico car finance market in 2022.

Banks have a strong presence in the financial sector and often have well-established lending capabilities and extensive customer bases. They are typically associated with offering a wide range of financial services, including auto financing, and have the resources to provide competitive interest rates and flexible loan terms. Banks brand reputation, trustworthiness, and extensive branch networks position them as preferred choices for many customers seeking auto financing.

MEXICO CAR FINANCE MARKET BY TENURE

The Mexico Car Finance market is segmented by Tenure into 3-4 years & 4-5 years.

3-4 years loan tenure is more preferred by the customers in Mexico in 2022.

3–4-year tenure is commonly preferred by customers due to several reasons. Firstly, it aligns with typical ownership periods for many individuals who prefer to upgrade their vehicles within a few years. Secondly, a shorter tenure generally results in lower interest costs and faster loan repayment. This appeals to customers seeking to minimize overall interest expenses and have the flexibility to change vehicles more frequently.

MEXICO CAR FINANCE MARKET BY PRICE

The Mexico Car Finance market is segmented by Price into High (500,000+), Medium (200k-500k) and Low (below 200K).

Medium (200k-500k) is the dominant segment in the market in 2022.

Firstly, it covers a wide range of vehicles that cater to various customer preferences and needs. Secondly, the medium price segment represents a balance between affordability and features, making it appealing to a significant portion of the market. Lastly, financing options are typically more accessible for medium-priced vehicles, attracting a larger customer base.

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MEXICO CAR FINANCE MARKET BY MODE OF BOOKING

The Mexico Car Finance market is segmented by Mode of Booking into Online and Offline.

Online segment dominates the Mexico car finance market in 2022.

The growth of e-commerce and digital platforms has significantly influenced consumer behavior, including the way they research and purchase vehicles. Online booking offers convenience, accessibility, and the ability to compare financing options and terms from various providers. Additionally, the COVID-19 pandemic has accelerated the adoption of online channels for car finance transactions

COMPETITION SCENARIO IN MEXICO CAR FINANCE MARKET

The Mexico auto finance market is highly competitive, with several players vying for market share. These companies offer a range of financing options to cater to different customer segments. The market is characterized by competitive interest rates, flexible loan terms, and diverse promotional campaigns.

Digitalization has become increasingly important, with many finance companies offering online platforms and mobile applications for convenient loan applications and account management. Transparency and customer service have become focal points, with companies striving to provide clear fee structures and efficient support. Overall, the current market scenario reflects a competitive landscape where finance companies continuously innovate to attract and retain customers

WHAT IS THE EXPECTED FUTURE OUTLOOK FOR THE OVERALL MEXICO CAR FINANCE MARKET?

The Mexico Car Finance market was valued at USD ~billion in 2022 and is anticipated to reach USD ~billion by the end of 2027F, witnessing a CAGR of ~% during the forecast period 2022-2027F. The realistic growth scenario represents the most likely scenario as per current market conditions. This scenario assumes that there will be no overall impact on the market due to any potential COVID-19 waves in the future.

The Mexico Car Finance market is driven by growing middle-class population, rising vehicle sales, urbanization, accessible financing options, and partnerships with automakers. However, the market is also constantly being influenced by rapid development in technology, product innovation, and diversification in some countries.

For instance, in February 2023 BYD, the world’s leading manufacturer of new energy vehicles, recently formed a strategic partnership with Santander Bank (Santander) in Mexico, a multinational banking group for Auto financial solutions in Mexico. This partnership seeks to facilitate access to all new energy BYD vehicles to customers and non-customers of the Bank with an offer of a 10% down payment and financing of up to 72 months, in addition to plans with 0% commission for opening.

Mexico's projected economic growth and rising middle-class population indicate a positive outlook for the car finance market. As the economy strengthens, more individuals are likely to enter the middle-income bracket, leading to increased purchasing power and a higher demand for auto financing. For example, according to the International Monetary Fund (IMF), Mexico's GDP is forecasted to grow by 4.3% in 2023.

Advancement in Technology like providing personalized and convenient customer experiences. This includes offering customized financing solutions, faster loan approvals, and superior after-sales services. For instance, Banco Santander México has implemented digital tools and simplified processes to enhance the customer experience and reduce loan approval times which will further fuel the market growth.

As the global automotive industry transitions towards electric mobility, Mexico is expected to follow suit. The government's commitment to sustainable transportation and the growing availability of EV models in the market will drive the demand for EVs. This, in turn, will present opportunities for innovative financing options specific to EVs, such as subsidized interest rates or extended repayment periods.

For More Insights On Market Intelligence, Refer To The Link Below: –

Mexico Car Finance Market Outlook 2027F

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Future Outlook of Kuwait Catering Service Industry: Ken Research

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What Is The Size Of Kuwait Catering Service Industry?

Kuwait Catering Service market is growing at a CAGR of ~% in 2017-2022 and is expected to reach USD ~ Bn by 2027F. The Kuwait Catering Service Market is largely driven by changing lifestyle and the increase in adoption of new Technology.

The Kuwait Catering Service Market is largely driven by adoption of new technology and changing lifestyles. There has been a change in the demand for catering services in recent years, supported by the quickly developing business-to-business (B2B) events sector and food and beverage services being offered at a growing number of corporate events. Furthermore, the market for catering services is growing because of factors including hectic lifestyles and difficulties associated with cooking.

Major operators of catering businesses are investing in mobile apps, digital kiosks, tableside ordering systems, and dedicated pick-up areas or drive-thru lanes for mobile orders.  Due to the nation's rising veganism trend, eateries in Kuwait are reorienting their menus to include healthier choices including plant-based, locally produced and fresh cuisine.

The growing preference among customers for fresher, healthier foods is boosting the Kuwait catering services market. The catering service operators have shifted their emphasis to providing healthier meals made in-house using fresh ingredients. The market is expanding because of the increased focus on implementing technology to enhance the customer experience and minimize time spent waiting for food.

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Kuwait Catering Service Market By Type

The Kuwait Catering Service market is segmented by Type into Contract catering and non-Contract catering. Contract Catering type was the most dominant type in Kuwait Catering Service market in 2022.

Kuwait Catering Service Market By Length Of Contract

The Kuwait Catering Service market is segmented by Length of Contract into Short-Term, 1 year and more than 1 year. The contract catering services in Kuwait were mainly dominated by 1 yearlong contract as they accounted for majority of the share of the catering contracts revenue in 2022 as the customers initially look for good quality catering service. Once satisfied with the services, they tend to renew the contracts after 1 year.

Kuwait Catering Service Market By End-User

The Kuwait Catering Service market is segmented by End-User into Industrial, Government, In-Flight, Corporate, Education, Event, Healthcare and Others. The event and marriage sector has accounted for the major share of revenue in catering services. The establishment of a large number of malls, schools, companies, colleges, IT parks, factories, and hospitals will widen the scope of the food catering business in Kuwait.

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Competition Scenario In Kuwait Catering Service Market

Kuwait Catering Service Market is in the growing stage, consisting of many players with just few companies acquitting the major portion of the market. Kuwait Catering Service market is fragmented with the manifestation of small, medium and large corporations. Some of the major players in the Kuwait Catering Service market are Luscious Catering, Opera Catering Co, Kuwait Hotels Company, Wow Catering Services etc.

What Is The Expected Future Outlook For The Overall Kuwait Catering Service Market?

The Kuwait Catering Service market was valued at USD ~billion in 2022 and is anticipated to reach USD ~billion by the end of 2027F, witnessing a CAGR of ~% during the forecast period 2022-2027F. The realistic growth scenario represents the most likely scenario as per current market conditions. This scenario assumes that there will be no overall impact on the market due to any potential COVID-19 waves in the future.

The Kuwait Catering Service market is driven by changing lifestyle and the increase in adoption of Technology. However, the market is also constantly being influenced by rapid development in technology, product innovation, and diversification in some countries.

The Kuwait Catering Services Market is projected to show significant growth. It is expected to be driven by the demand for healthy food and the convenience of delivering with the development of the hospitality sector. Growing health consciousness such as being vegan and eating green food is affecting an individual’s order pattern which is one of the major driving forces creating demand for catering services in the country.

Moreover, favorable government regulations are also expected to facilitate the catering business in the country. The expansion of foreign tourists in the country increases the in-flight services of the catering business which is further increasing the market. In addition, hotels and restaurants are developing novel catering services, which are expected to fuel the catering service industry.

The market for catering services is expected to grow because of factors including hectic lifestyles and difficulties associated with cooking at home. Also, hotels and restaurants are coming up with innovative catering services, which are expected to fuel the catering service industry. The market will also expand because of the increased focus on implementing technology to enhance the customer experience and minimize time spent waiting for food. Specialized catering services are increasing in demand as global multinational corporations are quickly expanding in emerging regions of Kuwait.

For More Insights On Market Intelligence, Refer To The Link Below: –

Kuwait Catering Services Market

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