MarketInsightsReports has recently published a global Catering Services And Food Contractors Market research study with more than 100 industry informative desk and figures spread through pages and easy to understand detailed TOC on “Catering Services And Food Contractors Market”.
The report provides information and the advancing business series information in the sector to the exchange. The report gives an idea associated with the advancement of this market development of significant players in this industry. An examination of this Catering Services And Food Contractors Market relies upon aims, which are coordinated into market analysis, are incorporated into the reports.
This report also narrates how the novel COVID-19 pandemic effects on the Paper Straw market.
Key players in the Catering Services And Food Contractors market include Compass Group PLC (OTC: CMPGY); Sodexo S.A. (OTC: SDXAY); Aramark Corporation; Elior Group and Delaware North.
The global catering services and food contractors market is expected to grow from $234.56 billion in 2020 to $251.82 billion in 2021 at a compound annual growth rate (CAGR) of 7.4%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $328.11 billion in 2025 at a CAGR of 7%.
Click here to get the latest sample PDF copy of updated research 2021 before purchase
The catering services and food contractors market consists of sales of single event-based food services or food services at institutional, governmental, commercial, or industrial locations of others based on contractual arrangements with these types of organizations for a specified period of time by entities (organizations, sole traders and partnerships) that provide single event-based food services or food services at institutional, governmental, commercial, or industrial locations of others based on contractual arrangements with these types of organizations for a specified period of time.
Western Europe was the largest region in the global catering services and food contractors market, accounting for 32% of the market in 2020. North America was the second largest region accounting for 27% of the global catering services and food contractors market. Africa was the smallest region in the global catering services and food contractors market.
There is a growing emphasis on sourcing local and organic raw materials and ingredients to produce meals. Many individuals in the 18-35 age group prefer organic meals as they are becoming conscious about their eating habits and lifestyles. For instance, more than 1.5 million meals are delivered daily under Food for Life brand that is famous for its organically balanced meals. Establishments in the industry are increasingly seeking to differentiate themselves by upgrading their ingredients and experimenting with healthier meals.
Browse full report description with TOC and get detailed COVID-19 impact analysis on the Catering Services And Food Contractors Market
The catering services and food contractors market growth is aided by stable economic growth forecasted in many developed and developing countries. The International Monetary Fund (IMF) predicts that the global GDP growth will be 3.2% in 2019 and 3.5% in 2020. Recovering commodity prices, after a significant decline in the historic period is further expected to aid the market growth. Developed economies are also expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than the developed markets in the forecast period. For instance, India’s GDP is expected to grow at 7.2%, whereas China is forecasted to register GDP growth of 6.0% in 2020. Stable economic growth is expected to increase the demand for services offered by this industry, thereby driving the market during forecast period.
Markets Covered: 1) By Type: Food Service Contractors; Catering Services
2) By Ownership: Chained; Standalone
Companies Mentioned: Compass Group plc; Sodexo; Aramark Corporation; Elior Group; Delaware North
Metrics Covered: Number of Enterprises; Number of Employees
Regions covered by Catering Services And Food Contractors Market report 2021 To 2030 are
North America (The United States, Canada, and Mexico), Asia-Pacific (China, India, Japan, South Korea, Australia, Indonesia, Malaysia, and Others), Europe (Germany, France, UK, Italy, Russia, and Rest of Europe), Central & South America (Brazil, and Rest of South America), and Middle East & Africa (GCC Countries, Turkey, Egypt, South Africa and Other).
Key points of the Catering Services And Food Contractors market report is
– A comprehensive evaluation of all opportunities and risks in the market.
– Catering Services And Food Contractors market ongoing developments and significant occasions.
– A detailed study of business techniques for the development of the market-driving players.
– Conclusive study about the improvement plot of the market for approaching years.
– Top to the bottom appreciation of market-express drivers, targets, and major littler scale markets.
– Favorable impressions inside imperative mechanical and publicize the latest examples striking the market.