December 02, 2019
According to the research report titled ‘Global Contract Catering Market: 2018 World Market Review and Forecast to 2022 - Analysis By Segments (Business & Industry, Education, Hospitals, Senior Care Homes, Defense & Offshore, Sports & Leisure), By Region, By Country’ available at MarketStudyReport.com, the global contract catering market is estimated to grow with a CAGR of 3.88% during the period of 2017-2022.
Growing corporate and industry sector, rising average spending power of consumers, and increasing awareness towards consuming healthy food are major factors driving the growth of contract catering market for the forecast period. Moreover, shifting preference for take away orders and rising number of home cares for seniors are aiding the market growth.
Moreover, booming emergence of developing nations, coupled with fluctuating VAT rates across various countries are also augmenting the demand for contract catering services across the globe. Growing inclination towards personalized food, in tandem with rising number of businesses providing healthy food to its staff are amplifying the marker outlook. However, the growth of the global contract catering market could be hindered due to strict policies, political instability, and lack of skilled staff in catering services.
As per segment, contract catering market is classified into education, business & industry, senior care, hospital, sports & leisure, and defense & offshore sectors. While considering the geographical landscape, the global contract catering market is divided into regions namely, Europe, North America, Latin America, Asia-Pacific, and rest of the world, with primary focus on countries such as Canada, US, UK, Germany, Spain, France, India, China, Japan, Brazil, and Australia.
The report cites that although North America contract catering market holds the largest share presently, APAC market is expected to witness substantial growth over the forecast timeframe, especially in countries like Japan and India.
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The key players in the global contract catering market are Aramark, Sodexo, BaxterStorey, Ch&Co Catering, Elior Group, Compass Group, and MITIE Catering Services.
Notably, the research report discusses and examines the potential growth opportunities in contract catering market. It further aims to deliver top-notch business information and help investors to evaluate their investments thoroughly.
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