NEW YORK, Jan. 5, 2017 /PRNewswire/ -- The term foodservice refers to the preparation and serving of food away from home and encompasses a broad assortment of service options. The foodservice industry consists of two broad categories: Self operated and Contract catering. Contract catering businesses provides institutions, schools, hospitals and other businesses with meal programs designed to meet specific needs. It mainly operates in the outsourcing structure by a firm or a collective organization of their restaurant services by a specialized company on a contractual base.
Based on amount of financial risks that contract catering company bears and potential compensation, profit or loss that it receives, the contract catering foodservice contracts usually fall in one of the three types of contracts: Fee-based/Cost Plus, Profit & Loss, and Fixed Price. The overall market is segmented into five major end markets namely; business and industry, healthcare and senior, education, sports and leisure, and defense, offshore and remote.
The global contract catering market is likely to grow significantly in the coming years driven by increasing demand for customized food, rising global middle class population and growing use of technology. However, certain factors including increasing food safety issues, stringent government standards and increased competition are likely to pose threat to growth of the respective market.
The report "Global Contract Catering Market: Industry Analysis & Outlook (2016-2020)" by Koncept Analytics provides an extensive research and detailed analysis of the present market along with future outlook. The report discusses the major growth drivers and challenges of the market, covering the North America, Europe and Asia Pacific regions along with the global market.
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