LONDON, Dec. 4, 2017 /PRNewswire/ --
The report titled "Qatar Catering Services Market Outlook to 2021 - Infrastructure Development and World Cup 2022 to Foster Future Growth" provides a comprehensive analysis of in-flight, industrial, school, hotel, healthcare and corporate catering services market in Qatar. The report covers aspects such as the market size of the Qatar Catering Services, market segmentation on the basis of type of contract, length of contract and major end users of Qatar Catering Services Market.
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The report also covers the competitive landscape, government regulations, customer preferences, and value chain analysis. In addition to this, the report also covers company profiles and product portfolio of major players. This report will help industry consultants, catering service providers, retail chains, potential entrants and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
Qatar Catering Services Market
The Qatar catering services has grown from USD ~ million in 2011 to USD ~ million in 2016 at a CAGR of ~%. This growth was majorly driven by the industrial and hospitality sector which are the largest end users of catering services contributing ~% and ~% respectively in the revenue share in 2016. The government of Qatar has initiated major infrastructure reforms under Qatar National Vision 2030 in various sectors of the economy such as transport network, education, healthcare, hotels and others which further created opportunities for catering services market as the number of labor camps increased.
The education and healthcare sector together contributed ~% in the revenue share of catering services market in 2016
Qatar Catering Services Market Segmentation
By Type: The contract catering market have accounted for ~% of the total Qatar catering services market while non contractual catering have acquired ~% of the market in 2016. Only marriages in personal spaces are non contractual whereas all other end users hire catering services on contractual basis which include airline, schools, corporate offices, hotels, hospitals, industrial and labor camps.
Therefore, the share of contract catering services is higher. Within contract catering services, 0-1 year contracts are the most popular and accounted for ~% of the total contracts. 0-1 year long contracts are more prevalent as the customers which include schools, offices and hospitals initially look for good quality catering service. Once satisfied with the services, they tend to renew the contracts after 1 year.
By End User: The industrial sector has accounted for the major revenue share of ~% in Qatar Catering services market 2016. Construction activities have majorly been driven with the implementation of government programs such as National Vision (QNV) 2030 and Qatar Rail Development Program (QRDP).
The hospitality sector has accounted for the second largest share of ~% in revenue share in Qatar Catering Services in 2016. The hospitality sector has seen infrastructure development as Qatar prepares to host World Cup 2022 which has augmented the market for catering services.
The catering services market in Qatar has been driven by infrastructure development which has led to increase in construction activities which in turn require catering services for labor camps. The government has allotted USD ~ billion for infrastructure, transport, hotels and stadia as it prepares to host the 2022 FIFA World Cup.
Qatar saw more than ~ million visitors in 2016 majorly during Eid celebration events and the Qatar Summer Festival. QTA's collaboration with the Ministry of Interior and Qatar Airways has further facilitated visitors' entry to Qatar. With development of the Qatar hospitality sector, catering services requirement increased in hotels.
Qatar has seen rising number of health conscious people looking for light and nutritious food. Due to the changing preferences, many catering services have restructured their production process. The catering services sector has seen growing demand from high income consumers who prefer more expensive premium products. This has made the catering companies to revise their menus to include more variety food items from different cuisines.
Qatar has ~ catering service providers as of 2016. The major players in the industry are Newrest Gulf Catering, Qatar Aircraft Catering Company and IFS Qatar.
This market has seen a rise in competition which is being driven by growing demand and increasing use of technology and innovation. Since major clients hire on contractual basis, these players compete to achieve contracts for longer duration to ensure regular orders and increase profits.
They offer different menus and customization services tailored for different end users.
Furthermore, they indulge in various marketing activities to build their brand equity and reliability. Some of the activities include email marketing personalized for specific customers, brochures, pamphlets and fliers distributed at corporate offices, schools and hospitals and organizing tastings and open houses
Qatar catering services market is expected to reach USD ~ million in 2021 as compared to USD ~ million in 2016 at a CAGR of ~%. This will be majorly driven by the rise in construction activities as major infrastructure projects get implemented under the Qatar Vision 2030.
The tourism sector is expected to reach USD ~ billion by 2025 with a target to receiving ~ million visitors by 2020. This will be supported by USD ~ billion investment under National Tourism Sector Strategy 2030. This will further create opportunities for catering services in hotels and hospitality sector.
In the short run, the Qatar catering services market will increase from USD ~ million to USD ~ million in 2018 at a CAGR of ~%. In the long term, the catering services market will grow at a slightly higher rate. It is expected to increase from USD ~ million to USD ~ million in 2021 at a CAGR of ~%.
Key Topics Covered in the Report:
• Qatar Catering Services Market Overview
• Value Chain
• Qatar Catering Services Market Size by Value, 2011-2016
• Qatar Catering Services Market Segmentation on the basis of Type of contracts, Length of Contracts and Major End Users
• SWOT Analysis for Qatar Catering Services Market
• Trends, Developments, Growth Drivers, Restraints and Government Regulation in Qatar Catering Services
• Decision Making Parameters for Vendor Selection in Qatar Catering Services Market
• List of Players with Overview in Qatar Catering Services Market
• Company Profile of Major Players in Qatar Catering Services Market
• Trends, Developments, Growth Drivers, Restraints and Government Regulation in Qatar Catering Services Market.
• Qatar Catering Services Market Future outlook and Projections
• Analyst Recommendation
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