Dublin, Feb. 04, 2019 (GLOBE NEWSWIRE) -- The "Contract Catering Market - Global Outlook and Forecast 2018-2023" report has been added to ResearchAndMarkets.com's offering.
The global contract catering market is anticipated to reach revenues of around $264 billion by 2023, growing at a CAGR of approximately 5% during 2017-2023.
The top vendors are offering flexibility through new service models that leverage an on-demand online system and ad-hoc workplace food offer minus the requirement for on-site facilities and services to gain a larger market share. The caterers are implementing predictive analytics to improve the operational efficiency of catering services, reduce wastage, and speed up the procurement cycle in the market. The global contract catering market is driven by introducing the signature brand, limited time menu offerings, and promotional items.
The leading vendors are offering value additions such as employee support, training, and guaranteed service-level agreements to gain a larger market share. The market research report provides in-depth market analysis and segmental analysis of the global contract catering market by industry, contract type, and geography.
Contract Catering Market - Dynamics
The increasing focus on wellbeing and health by several businesses, hospitals, educational institutions, and aged care centers is driving the growth of the global catering market. The growing awareness of better health and wellbeing is encouraging employers and institutions to change their eating habits for the better behavioral cues, educating about nutrient quality, and building healthier choices. The growing popularity of home meal replacements and fresh food subscription services is encouraging companies to launch new healthy meal plans and products in the global market.
The health food trend is encouraging manufacturers such as Guckenheimer, Aramark, and Sodexo to offer home meal replacement programs which have evolved to fresh food subscription services in the market. The increasing public scrutiny of sustainability is encouraging contract caterers to align their values with their customers and help their clients achieve their sustainability objectives. These efforts to ensure ethical supply chain and resource management will boost the development and growth in the catering market size.
Contract Catering Market - Segmentation
The market research report includes a detailed segmentation of the market by industry, contract type, and geography. B&I industry dominated 1/3rd of the total market share in 2017, growing at a CAGR of more than 4% during the forecast period. Healthcare dominated the third largest market share in 2017, growing at a CAGR of more than 5% during the forecast period. The growing demand for meals that categorized into high calories, low fat/low sugar, or meals with certain excluded ingredients, easily digestible, and chewable properties is driving the growth of the healthcare segment in the global market.
Fixed priced contracts occupied the largest market share in 2017, growing at a CAGR of approximately 5% during the forecast period. The others contract type includes nil subsidy contracts where the caterer recovers its overhead costs and earnings from the gross profit that it earns from sales, at no risk or cost to the client. The increasing trend of implementing lesser risk-free contracts is propelling the growth of this segment in the global market.
Key Vendor Analysis
The global contract catering market is consolidated, and the five major players dominate the majority share. The leading vendors are investing in expanding their international presence and creating strong brand images for their services. The increasing number of M&A activities, geographic expansions, and service diversifications will intensify the level of competition in the global market. The top companies are offering integrated facility service solutions to attract new consumers and gain a larger market share. Customization and personalization are becoming a key growth driver in the global contract catering market.
The major vendors in the global market are:
- Compass Group
- Sodexo
- Elior Group
- Aramark Services
- WSH
Key Topics Covered:
1 Research Methodology
2 Research Objectives
3 Research Process
4 Report Coverage
4.1 Market Definition
4.2 Base Year
4.3 Scope of Study
5 Report Assumptions and Caveats
5.1 Key Caveats
5.2 Inclusions
5.3 Exclusions
5.4 Currency Conversion
5.5 Market Derivation
6 Market at a Glance
7 Introduction
7.1 Overview
7.2 State Of Global Economy
7.3 Overview of Facilities Management Industry
7.4 Market Drivers in the FM Industry
7.4.1 Global regulatory and economic developments
7.4.2 Increasing involvement of enterprises in national and international contract procurement
7.4.3 Value-added services gain prominence
7.5 Trends affecting the FM Industry
7.5.1 Multi-generational workplace
7.5.2 Evolution of new workspaces and styles
7.5.3 Smart building and AI
7.5.4 Harnessing strategic insights to fuel decision-making
7.5.5 Robots and AI as a future workforce supplement
7.6 Foodservice Industry Outlook
7.6.1 Catering Service Types
7.6.2 Strategies for staying competitive
8 Market Dynamics
8.1 Market Growth Enablers
8.1.1 Growing popularity of FoodXWellbeing movement
8.1.2 Ongoing productivity and retention puzzle
8.1.3 Emergence of a new age of outsourcing facilities
8.1.4 Growth of integrated facilities management services
8.2 Market Growth Restraints
8.2.1 Preference for street food and grab n' go outlets
8.2.2 Inconsistent food quality and hygiene management
8.2.3 Race for space
8.2.4 Recruitment crisis
8.3 Market Opportunities and Trends
8.3.1 Waste not, want not
8.3.2 Enhancing customer journeys
8.3.3 The growth of fresh food subscriptions
8.3.4 Growing momentum of sustainable eating
9 Global Contract Catering Market
9.1 Market Overview
9.2 Porter's Five Forces Analysis
10 Market By Industry Served
10.1 Market Overview
10.2 Global Contract Catering Market by B&I
10.3 Global Contract Catering Market by Education
10.4 Global Contract Catering Market by Healthcare
10.5 Global Contract Catering Market by Senior Care
10.6 Global Contract Catering Market by Others
11 Market by Contract Type
11.1 Market Overview
11.1.1 Fixed Price Contracts
11.1.2 Cost-plus contracts
11.1.3 Others
11.2 Global Contract Catering Market by Fixed Price Contracts
11.3 Global Contract Catering Market by Cost-plus contracts
11.4 Global Contract Catering Market by Other Contracts
12 Market By Geography
Competitive Landscape
Market overview
Market Vendor Analysis
Key Company Profiles
- Compass Group
- Sodexo
- Elior Group
- Aramark
- WSH
Other Prominent Vendors
- 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
- Vacherin
For more information about this report visit https://www.researchandmarkets.com/research/dml6n6/global_contract?w=12
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