LONDON–(BUSINESS WIRE)–Technavio has been monitoring the catering services market and it is poised to grow by USD 187.56 billion during 2020-2024, progressing at a CAGR of about 6% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Frequently Asked Questions-
- Based on segmentation by service, which is the leading segment in the market?
- The contract catering services are expected to be the leading segment based on service in the global market during the forecast period.
- What are the major trends in the market?
- Rising demand for healthy foods in menus is one of the major trends in the market.
- At what rate is the market projected to grow?
- Growing at a CAGR of about 6%, the incremental growth of the market is anticipated to be USD 187.56 billion.
- Who are the top players in the market?
- Aramark, bartlett mitchel Ltd., Compass Group Plc, Delware North Companies Inc., Deutsche Lufthansa AG, DO & CO Group, Elior Group, Emirates Flight Catering Co., gategroup, and Newrest Group Services SAS. are some of the major market participants.
- What are the key market drivers and challenges?
- Increasing popularity of online catering is one of the major factors driving the market. However, the fluctuations in food commodity prices restraints the market growth.
- How big is the APAC market?
- The APAC region will contribute 38% of market growth.
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Aramark, bartlett mitchel Ltd., Compass Group Plc, Delware North Companies Inc., Deutsche Lufthansa AG, DO & CO Group, Elior Group, Emirates Flight Catering Co., gategroup, and Newrest Group Services SAS are some of the major market participants. The increasing popularity of online catering will offer immense growth opportunities. To make most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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Catering Services Market 2020-2024: Segmentation
Catering Services Market is segmented as below:
- Contract Catering Services
- Concession Catering Services
- North America
- South America
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Catering Services Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The catering services market report covers the following areas:
- Catering Services Market Size
- Catering Services Market Trends
- Catering Services Market Analysis
This study identifies rising demand for healthy foods in menus as one of the prime reasons driving the catering services market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Catering Services Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist catering services market growth during the next five years
- Estimation of the catering services market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the catering services market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of catering services market vendors
Table of Contents:
- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 – 2024
Five Forces Analysis
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Service
- Market segments
- Comparison by Service placement
- Contract catering services – Market size and forecast 2019-2024
- Concession catering services – Market size and forecast 2019-2024
- Market opportunity by Service
- Geographic segmentation
- Geographic comparison
- APAC – Market size and forecast 2019-2024
- North America – Market size and forecast 2019-2024
- Europe – Market size and forecast 2019-2024
- MEA – Market size and forecast 2019-2024
- South America – Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
Drivers, Challenges, and Trends
- Market drivers
- Volume driver – Demand led growth
- Volume driver – Supply led growth
- Volume driver – External factors
- Volume driver – Demand shift in adjacent markets
- Price driver – Inflation
- Price driver – Shift from lower to higher-priced units
- Market challenges
- Market trends
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- bartlett mitchel Ltd.
- Compass Group Plc
- Delware North Companies Inc.
- Deutsche Lufthansa AG
- DO & CO Group
- Elior Group
- Emirates Flight Catering Co.
- Newrest Group Services SAS
- Scope of the report
- Currency conversion rates for US$
- Research methodology
List of abbreviations
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