Global Contract Catering Market to Record Revenues of $264 Billion During 2018-2023 - Market Research by Arizton

CHICAGO, Feb. 7, 2019 /PRNewswire/ -- According to Arizton's recent research report, the global contract catering market is projected to reach revenues of around $264 billion by 2023, growing at a CAGR of approximately 5% during 2017–2023.

Key Highlights Offered in the Report:

• The emergence of the new service model, which offers an on-demand online system for ordering food with enhanced flexibility and customized meals.
• Leading service providers are introducing first-class table services, exotic ingredients, flexing of offerings, and inventive ways to attract consumers.
• The B&I industry covered more than 30% of the total market share in 2018.
• Fixed price contracts are designed to meet the customer's satisfaction and quality standards. The segment is expected to grow at a CAGR of around 5% by 2023.
• APAC dominated the market in 2018 due to the growing awareness on clean eating and increasing adoption of healthy habits.
• Sodexo employed the Van Westernport pricing studies for its Sodexo signature brand limited time menu offerings and promotional items.

Key Offerings:

• Market Size & Forecast by Revenue | 2017–2023
• Market Growth Enablers – List of drivers, trends, restraints, and investment opportunities
• Market Segmentation - Complete analysis of industry type, contract type, and geography in 11 leading countries.
• Competitive Landscape - Profile of 5 key vendors and 20 other prominent players.
• Overview of the facility management industry
• Foodservice Industry Outlook - Catering service types and strategies for staying competitive

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Contract Catering Market- Dynamics

The exponential proliferation of 4G, RFID, mobile apps, and smartphones is changing the way food is delivered at the customer's table in the market. Several catering companies are using smart technology to provide the customer with advanced information, customized orders, and shorter waiting times.

The key drivers and trends fueling the growth of the global market are:

• Increasing Popularity of the FoodXWellbeing Movement
• Growth of Integrated Facilities Management Services
• Rise of Fresh Food Subscriptions

Contract Catering Market– Segmentation

This market research report includes a detailed segmentation of the market by industry, contract type, and geography.

• The healthcare industry is the fastest growing end-user segment, growing at a CAGR of more than 5% by 2023
• The cost-plus model has a great earning potential and was the second largest segment in the global market in 2017

- Market Segmentation by Industry

• B&I
• Education
• Healthcare
• Senior Care
• Others

-  Market Segmentation by Contract Type

• Fixed Price
• Cost-Plus
• Other

Contract Catering Market- Geography

The global contract catering market by geography is divided into North America, Europe, APAC, and ROW. Personalization of food items, fast services, and convenience are some of the main factors attributing to the growth of the market in North America.

Market Size & Forecast | 2017–2023

• Revenues
• Leading Countries

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-  Market Segmentation by Geography

• APAC
• North America
• Europe
• ROW

-  Key Countries Profiled in the report:

• US
• Canada
• France
• UK
• Italy
• Turkey
• Japan
• China
• India
• Brazil
• Mexico

Major Vendors in the Global Market are:

• Aramark Services
• Compass Group
• Elior Group
• Sodexo
• WSH

Other prominent vendors include ABM Catering Solutions, Amadeus Food, Atalian Servest, Barlett Mitchell, Blue Apple Catering, Camst, Caterleisure Group, CH & CO Catering, CIR Food, Connect, Dine Contract Catering, Fazer Food Services, The Genuine Dining Co., Interserve Catering, ISS World Services, Mitie Catering Services, OCS Group, Olive Catering Services, SV Group, and Vacherin.

Explore our Consumer Goods & Retail Technology vertical to know more about the industry.

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About Arizton:

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We offer comprehensive market research reports on industries such as consumer goods & retail technology, automotive and mobility, smart tech, healthcare, and life sciences, industrial machinery, chemicals and materials, IT and media, logistics and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.

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SOURCE Arizton Advisory & Intelligence