$ 187.56 Billion Growth in Global Catering Services Market 2020-2024 | Rising Demand for Healthy Foods in Menus to Emerge as Key Trend | Technavio
NEW YORK, March 15, 2021 /PRNewswire/ -- The global catering services market 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.
Impact of COVID-19
The COVID-19 pandemic continues to transform the growth of various industries, however, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a low impact on the catering services market.
Frequently Asked Questions:
- Based on segmentation by Service, which is the leading segment in the market?
Based on the service, the market saw maximum growth in the contract catering services segment in 2019. - What are the major trends in the market?
The rising demand for healthy foods in menus will be the major trend in the market. - At what rate is the market projected to grow?
The market is projected to grow at a CAGR of about 6% during the forecast period. - 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 the major players in the market. - What are the key market drivers and challenges?
The market is driven by the increasing popularity of online catering. However, fluctuations in food commodity prices might challenge growth. - How big is the APAC market?
APAC dominated the market with a 38% share in 2019
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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. Although the increasing popularity of online catering will offer immense growth opportunities, fluctuations in food commodity prices are likely to pose a challenge for the market vendors. In a bid to help players strengthen their market foothold, this catering services market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.
Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.
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Catering Services Market 2020-2024: Segmentation
Catering Services Market is segmented as below:
- Service
- Contract Catering Services
- Concession Catering Services
- Geographic Landscape
- APAC
- North America
- Europe
- MEA
- 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 Industry 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.
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 across APAC, Europe, MEA, North America, and South America
- 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:
Executive Summary
- Market Overview
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- 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
Customer landscape
- Overview
Geographic Landscape
- 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
Vendor Landscape
- Overview
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- Aramark
- bartlett mitchel Ltd.
- Compass Group Plc
- Delware North Companies Inc.
- Deutsche Lufthansa AG
- DO & CO Group
- Elior Group
- Emirates Flight Catering Co.
- gategroup
- Newrest Group Services SAS
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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Report Link: https://www.technavio.com/report/catering-services-market-industry-analysis
SOURCE Technavio
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