The catering management market is projected to record a CAGR of 4.3% during the forecast period (2022 to 2032).The catering management market is expected to be valued at USD 104.3 billion in 2022 and is likely to reach USD 159.3 billion by 2032.
| Attributes | Details |
|---|---|
| Catering Management Market CAGR (2022 to 2032) | 4.3% |
| Catering Management Market Value (2022) | USD 104.3 Billion |
| Catering Management Market Value (2032) | USD 159.3 Billion |
The catering management market is expected to expand significantly due to rising demand for ready-to-eat outdoor food and increased accessibility around the world.
Catering services provide healthy and hygienic food to customers as a result of improved foodservice packaging, encouraging many to opt for the same.
Furthermore, on account of the convenience of catering services, it is widely used in restaurants, offices, cafeterias, schools, colleges, and so on, facilitating the adoption of catering services.
The growing penetration of mobile-based payment solutions, such as Samsung Pay, and Google Android Pay, Apple Pay provides customers with the convenience of making payments through online wallets.
Hence, the non-necessity to carry cash while also reducing the time required for payments at the counter is further energizing the catering management market outlook.
The catering management market is also anticipated to grow due to stable economic growth in many developed and developing countries.
Recovering commodity prices, following a significant decline in the previous period, are all aiding market growth, and developed economies are also expected to grow steadily over the forecast period.
Furthermore, emerging markets are expected to grow slightly faster than developed markets during the forecast period.
Stable economic growth is expected to increase demand for the catering management market's services, driving the catering management market during the forecast period.
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
The global catering management market is being driven by the FDA's stringent norms and regulations for monitoring and controlling the quality and standards of the food being served.
The same is increasing global concern for food safety and demand for outsourcing catering services to a trusted source, thereby spiking the overall demand for catering services.
Catering services are in high demand in the Asia Pacific due to the region's growing population and the region's growing need for industry players in the organized sector.
Catering is being used as a talent attraction and retention tool by several corporate offices, propelling the catering management market trends forward.
The adoption of catering services is on the surge. An increasing number of companies are showcasing their dining services as an attraction by providing an additional employee benefit rather than just a meal.
Companies are providing subsidized customized menus and dining experiences to employees in order to attract and retain the best talent by increasing employee satisfaction and morale, boosting the overall catering management market.
A more comprehensive dining experience encourages employees to eat together and fosters a sense of belonging to the company. As a result, opens up huge catering management market opportunities as there are numerous themed restaurants and fine dining establishments on campus.
The growing emphasis on the use of technology to improve the customer experience and reduce the amount of time spent waiting for food augurs well for the catering management market future trends.
Moreover, the rapid expansion of global multinationals in emerging markets has provided the impetus to the catering management market statistics to a considerable extent.
Suppliers are increasing their supply capability while implementing performance-based metrics for evaluation and performance monitoring, providing the additional push for industry growth.
The catering management market is segmented by service type, application, and region.
Based on application, the corporate segment is anticipated to take the lead in the catering management market, advancing at a CAGR of 2.9% from 2022 to 2032.
An increase in corporate buyer demand for healthier fresh food is assisting the global catering management market.
Food service operators are shifting their focus away from frozen prepared foods and toward healthier meals prepared from fresh ingredients in the location's kitchen.
The contractual catering services segment is likely to hold a major catering management market share and is expected to maintain its dominance during the forecast period.
Some of the major factors expected to aid the leading position of the contractual catering services segment are the constantly changing dynamics of the modern workforce and an insatiable appetite for different types of cuisines.
Furthermore, the introduction of various offers, such as limited-time menu offerings and promotional offers, is likely to drive the contractual catering services segment.
Principal Consultant
During the forecast period, the North American market is expected to capture a sizeable catering management market share owing to the presence of numerous market playersa as well as providers of specialised services.
Europe is expected to grow faster than the rest of the world in the catering management market during the forecast period.
The catering management market size in Latin America and the Middle East and Africa region is expected to grow slowly during the forecast period.
In Asia-Pacific, China and Japan are the most important markets for catering management.
Factors such as the growing preference to dine in the office are likely to aid the growth of the Asia-Pacific catering management market during the forecast period.
The global catering management market is highly consolidated, with five major players controlling the major share.
The top vendors are investing in expanding their international presence and developing strong brand images for their services.
One of the notable catering management market trends in the global catering services market is the increasing number of mergers and acquisitions.
Mergers and acquisitions are being pursued by market participants in order to enter new market, diversify their service portfolio, augment their market share, reduce financial costs, and achieve economies of scale.
Catering management market players are also playing a significant role in bringing about emerging trends in catering management market and various other key strategies.
Numerous companies are forming alliances to cater to colleges, schools, and universities.
They are also involved in the development of mobile apps that provide tailored food options to meet the needs of each individual.
For instance, Sodexo, a foodservice and facilities management company, has announced a partnership with HelloFresh, the meal kit leader, to deliver HelloFresh and EveryPlate meal kits to students at over 300 colleges and universities across the United States.
Students can use Sodexo's BiteU app to pre-select, order, and schedule meal kits for delivery.
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
The catering management market is projected to register a CAGR of 4.3% through 2032.
During the forecast period, North America is expected to lead the catering management market from 2022 to 2032.
Corporate segment is expected to dominate the catering management marketing market over the forecast period.
The catering management market is expected to be valued at USD 159.3 billion by 2032.
The catering management market accounted for around USD 101.4 billion in 2021.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Catering Management Market Analysis 2017 to 2021 and Forecast, 2022 to 2032 5. Global Catering Management Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Service Type 5.1. Wedding Catering 5.2. Social Event Catering 5.3. Concession Catering 5.4. Restaurant Catering 5.5. Others 6. Global Catering Management Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Application 6.1. Corporate 6.2. Educational Institutions 6.3. Healthcare 6.4. Industrial 6.5. Hospitality Services 6.6. Others 7. Global Catering Management Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Region 7.1. North America 7.2. Latin America 7.3. Europe 7.4. East Asia 7.5. South Asia 7.6. Oceania 7.7. MEA 8. North America Catering Management Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 9. Latin America Catering Management Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 10. Europe Catering Management Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 11. East Asia Catering Management Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 12. South Asia Catering Management Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 13. Oceania Catering Management Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 14. MEA Catering Management Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 16. Market Structure Analysis 17. Competition Analysis 17.1. Compass Group Plc. 17.2. Dine Contact Catering 17.3. Sodexo 17.4. Elior Group 17.5. Delaware North 17.6. Aramark Corporation 17.7. Westbury Street Holdings 17.8. Thompson Hospitality 17.9. Olive Catering Services 17.10. Ovations Food Services 17.11. Dine Contact Catering Ltd. 18. Assumptions & Acronyms Used 19. Research Methodology
Explore Technology Insights
View Reports
Catering Management Market
