Global catering services market value is projected at 200 (USD Billion) by 2025 and is projected to grow at a CAGR of more than 5.6% during the period from 2019 to 2025.
The global catering services market value is projected at 200 (USD Billion) by 2025 and is projected to grow at a CAGR of more than 5.6% during the period from 2019 to 2025. The report offers valuation and analysis of the catering services market on a global as well as regional level. The study offers a comprehensive assessment of the industry competition, restraints, revenue estimates, avenues, current & emerging trends, and industry-validated market information. The report offers historical data from 2016 to 2018 along with a forecast from 2019 to 2025 based on value (USD Billion).
Catering is the business of offering food service at distant locations including hotel, park, entertainment site, event venue, pub, aircraft, hospital, cruise ship, and filming site.
Market Growth Dynamics
Huge demand for catering activities from various businesses and high-income groups will enlarge the scope of the catering services industry over the forthcoming years. Apart from this, a rise in customer spending on parties and other catered operations will generate a huge profit margin for the business over the forthcoming years.
Contractual Services Type Segment To Account Notably Towards Overall Market Share By 2025
The segmental growth over the forecast timeline is attributed to rapidly changing workforce dynamics and appetite for myriad cuisine types. Apart from this, the launching of myriad offers including a limited time menu and promotional offer will steer the segmental growth.
Asia Pacific To Lead Overall Catering Services Market Over 2019-2025
The regional market growth over the forecast timeline is owing to the massive demand for the services in the region. Moreover, China, India, Australia, and Japan are anticipated to be the key revenue pockets of the Asia Pacific zone.
Key players included in our market research report are Sodexo, Cushman & Wakefield, WSH, GateGroup, Compass Group PLC, Newrest, ABM Catering Solution, Aramark, Elior Group, DO & CO, and SV Group.
The global catering services market is segmented as follows: