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Catering and Food Service Contractor Market

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The research report on Catering and Food Service Contractor Market is segmented by Application and by Region - Size, Share, Outlook, and Opportunity Analysis, 2018 – 2026
Catering and Food Service Contractor Market - Size,
Share, Outlook, and Opportunity Analysis, 2018 –
2026
Catering is a very critical part of the business, especially for network carriers serving
long distances. Meal design and meal planning are important processes of catering
services. According to International Air Transport Association (IATA), catering
planning and catering operations are important areas of activities of catering
services. Growing tourism industry is one of the major factors driving growth of the
global catering and food service contractor market. According to the Our World in
Data, in 2014, international tourist arrivals across regions including Europe, the
Americas, Asia Pacific, Africa, and Middle East was 1.14 billion, which increased to
1.24 billion in 2016.
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Moreover, increasing preference for mini buffets is also expected to propel growth of
the global catering and food service contractor market. Mini meals are convenient
and are packed in disposable trays, which are then dropped off at desired locations.
Such meals are significantly preferred for smaller gatherings or when there are
space constraints. Moreover, hassle-free set-up of mini buffets has led their
increasing adoption compared to normal buffet counterparts.
However, increasing number of online food delivery services is a major restraining
factor for growth of the global catering and food service market. Online food services
make ordering process easier and convenient, maintain cost transparency including
price along with other taxes to be charged, and monitor expenses incurring in
real-time. These services enable customers to order through mobile app and explore
various options of food without the intervention of contractors. The major competitors
of the global catering and foodservice contractors pertaining to online food delivery
services include, Food Matters, Zomato, Swiggy, UberEats, Foodpanda, Deliveroo,
and others.
Europe is expected to witness significant market share during the forecast period in
the global catering and food service contractor market. Market growth in the region is
attributed to increasing number of merger and acquisition activities in the region. For
instance, in 2017, CH&Co Group and Harbour & Jones merged, which brought the
turnover of US$ 299.46 million. The merger of both the companies was aimed to
offer catering services across the U.K. and Ireland. Prior to this, in 2015, Harbour &
Jones acquired PCC Ltd along with its two brands namely Fare of London and
Principals Catering. The deal made the turnover of over US$ 55.48 million.
Therefore, increasing M&A activities in Europe is expected to boost the market
growth in terms of revenue.
Asia Pacific is expected to account for a significant market share over the projected
period in the global catering and food service contractor market. This is majorly
attributed to stringent regulations in the region that promote people towards healthy
eating. For instance, In April 2017, the Government of Singapore introduced
Whole-of-Government (WOG) Healthier Catering Policy. The policy was introduced
to encourage healthier eating at homes, workplaces, and communities in Singapore.
According to the policy, government entities in Singapore will be provided with
healthy food and drinks at the government organized functions, conferences,
trainings, and meetings.
Key players operating in the global catering and food service contractor include,
Compass Group Plc., Sodexo, Aramark Corporation, Elior Group, Delaware North,
Westbury Street Holdings, Ovations Food Services, Thompson Hospitality, Dine
Contract Catering, Olive Catering Services, and others.
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Author
apeksha motghare
apeksha motghare533   documents Email
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