With a total value of around US$ 618.5 million in 2023, the global catering services market is observed to be growing lucratively. FMI predicts the market to follow an average annual growth rate of 4.4% over the next ten years from 2023 to 2033. Finally, by the conclusion of this forecast period, the overall valuation of the market is projected to reach US$ 951.5 million.
For all types of meetings, conventions, celebrations, as well as other events, catering services have become an important part to make it a success. The provision of hot food catering for establishments like institutions, universities, and commercial entities may also fall under the purview of these services. These establishments either employ in-house chefs or have a contract with a third-party business to maintain healthy meal catering services.
Corporate and social establishments are growing fast and their owners are organizing events such as parties and ceremonies as an integral team-building activity therein. The lack of sufficient resources and dedicated personnel to arrange such requirements makes it daunting for organizations to get it done within time. As a result, the adoption of outsourcing catering services is increasing with a general concern for food safety thus boosting the market worldwide.
To persuade and retain professionals, more businesses are now promoting their campus dining as a perk by adopting third-party catering packages. Over the years, such popular catering service providers have advanced remarkably by offering party food catering services during corporate events and celebrations. As more corporate offices utilize food as a tactic to recruit and retain talent, the demand for catering services is projected to grow at a faster rate than earlier.
Given the significant presence of many international firms and specialized catering service providers, Europe and North America are leading the industry. While Asian, African, and Latin American countries are considered low-opportunity zones and are anticipated to develop gradually over the coming years.
The overall food catering services market is also being affected by shifts in consumer tastes or preferences and improving economic structure, especially in emerging nations. Additionally, owing to the growing demand for clean and a healthy diet, commercial catering services are also becoming popular in the healthcare industry. Moreover, contract food catering services are now being stimulated by the rise in demand for nutritious meals across schools, colleges, and geriatric care facilities.
| Attributes | Details |
|---|---|
| Catering Services Market Share (2022) | US$ 592.5 million |
| Catering Services Market Size Value (2023) | US$ 618.5 million |
| Catering Services Market Size Value (2033) | US$ 951.5 million |
| Catering Services Market Growth Rate (2023 to 2033) | 4.4% |
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The net worth of total catering services adopted worldwide was formerly assessed to be around US$ 565 million in 2018. By the year 2022, the overall valuation of the market reached US$ 592.5 million by registering a CAGR of only 1.2% due to pandemic restrictions. The lockdowns and restrictions over public life had a devastating impact on the global catering services businesses that thrived on public activities.
But the global catering business is now expected to expand at a CAGR of 4.4%, in the new post-COVID-19 business environment. As per the estimates for the mid-term period, by 2027, the demand for catering services is expected to reach around US$ 733.7 billion.
Some recent food safety-related accidents and mishaps regarding the quality of food served at events have impacted the studied market negatively. Following rules and guidelines for food catering services by the United States FDA are a few challenges faced by the market players.
Nevertheless, the emergence of cloud kitchens or online food delivery services can restrict the catering services market trends and opportunities in the coming days. Likewise, the growing popularity of packaged and convenience food items is also anticipated to limit the market to some degree in the future. However, the demand for fresh and prepared food items for a large customer base is expected to drive the market against these odds. Moreover, the natural preference for dishes of choice that can be availed from a dedicated food catering service is anticipated to give the market an edge over other sectors.
Principal Consultant
According to the application, the contract catering services for the corporate segment held a significant revenue share as per the 2022 market survey report. The ‘Corporate Town Hall Concept’ is getting quite popular on a larger scale and is considered to be the key driving factor for the segment. Meanwhile, the catering service for the hospitality sector has retained its market position nearly constant over the last few years. Recent growth in international trade and tourism is anticipated to boost this market segment at a higher rate than in earlier years.
On the other hand, food catering services for educational institutions and healthcare sectors are growing rapidly nowadays. As per the FMI market report, both these segments may witness a steep growth trend during the forecast years.
The standalone food catering services market segment held the dominant position in 2022 and the preceding years and is anticipated to hold this position in near future. Given the variety of variables, including the flexibility to set prices and sole control over the presentation the standalone category is becoming more popular.
However, the experts at FMI predict that the companies having food catering service chains have also garnered sufficient traction in the last few years. Food catering service chains have acquired fame through market penetration as well as advertising on social media platforms and in print media.
In the United States, the demand for catering services is estimated to be US$ 152 million in 2023 in terms of value. Over the coming years, the year-on-year growth rate of the United States catering services market is expected to remain slightly lower than other countries.
On the other hand, the demand for catering services in the country of Canada is projected to grow at a rate of 3.5% through 2033. Additionally, Latin American nations like Brazil are expected to present appealing chances for market players during the projection period with supportive government policies and extensive privatization.
In western European nations including the United Kingdom, Germany, and France, the food catering sector has reached a high service maturity level. Yet, the Eastern and Middle Eastern European nations are predicted to still have a huge scope for the sector to grow further. Due to the expansion of the tourist sector and rising income levels, the catering and food service contract business in Middle Eastern European nations has experienced enormous growth in the last few years.
In comparison to all other nations, Germany is anticipated to expand at a higher growth rate of around 3.2% within the European region. Given the economic development and presence of many multinational companies, the demand for catering services in the country is surging fast. Likewise, the United Kingdom, known for its rich culture of partying and eating away, is projected to remain a lucrative market for regional as well as global players.
Due to the growing population along with the growing workforce in the organized sector, catering services are now in great demand throughout the Asia Pacific region. In the Asia Pacific region, China is expected to acquire the top position in the adoption of catering services with a market valuation of around US$ 115 million (2023). China's catering service market is anticipated to grow at a 7.1% annual growth rate which is considered to be higher than any other country.
Japan and India are the other two notable regional catering services markets that are expected to follow China closely in adoption and development. All nations in the Asia Pacific region together account for nearly 45% of the revenue generated by the global catering service business. However, Japan, with an anticipated growth rate of 2.5% during the forecast years is expected to lag in terms of the overall progress of the market.
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Regional catering service providers dominate all types of food service businesses in any given area with greater access among natives. So, given the huge presence of local catering service providers, the global catering services market is highly fragmented and competitive. Further, established catering service companies are providing lucrative discounts to their customers to retain their customers making it very challenging for new market players.
Integration of exotic products and aesthetically pleasing delicacies is an emerging trend in the food catering services market getting readily adopted by leading players. Additionally, a variety of caterers are deeply committed to offering premium tabletop services, and live food catering kiosks, profoundly changing their market position.
The existence of a sizable workforce base, rising family incomes, and an increase in the percentage of middle-class residents are the primary drivers supporting market expansion. For instance, the Whole-of-Government (WOG) Healthier Catering Policy was implemented by the Singaporean authorities in the country back in April 2017. As a result of the policy's introduction, the adoption of catering services and food preparation contracts has increased in Singapore's homes, organizations, and corporates.
The catering services market value reaches US$ 618.5 million in 2023.
The catering services market is anticipated to surpass US$ 951.5 million by 2033.
Corporate catering services are poised to remain the lucrative segment for catering service providers.
The market discovers profitable prospects within the United States, reaching US$ 152 million in 2023.
Key catering services market players are Aramark Corp., Compass Group PLC, and Bartlett Mitchell Ltd.
1. Executive Summary | Catering Services Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
3.5. PESTLE and Porter’s Analysis
3.6. Regulatory Landscape
3.6.1. By Key Regions
3.6.2. By Key Countries
3.7. Regional Parent Market Outlook
4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) Projections, 2023 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Service
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) Analysis By Service, 2018 to 2022
5.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Service, 2023 to 2033
5.3.1. Contract Catering Services
5.3.2. Non-Contractual Catering Services
5.4. Y-o-Y Growth Trend Analysis By Service, 2018 to 2022
5.5. Absolute $ Opportunity Analysis By Service, 2023 to 2033
6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Type
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) Analysis By Type, 2018 to 2022
6.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Type, 2023 to 2033
6.3.1. Wedding Catering
6.3.2. Social Event Catering
6.3.3. Corporate Catering
6.3.4. Concession Catering
6.3.5. Others
6.4. Y-o-Y Growth Trend Analysis By Type, 2018 to 2022
6.5. Absolute $ Opportunity Analysis By Type, 2023 to 2033
7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End-user
7.1. Introduction / Key Findings
7.2. Historical Market Size Value (US$ Million) Analysis By End-user , 2018 to 2022
7.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By End-user , 2023 to 2033
7.3.1. Corporate
7.3.2. Educational Institutions
7.3.3. Industrial
7.3.4. Hospitality
7.3.5. Sports & Leisure
7.3.6. Others
7.4. Y-o-Y Growth Trend Analysis By End-user , 2018 to 2022
7.5. Absolute $ Opportunity Analysis By End-user , 2023 to 2033
8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region
8.1. Introduction
8.2. Historical Market Size Value (US$ Million) Analysis By Region, 2018 to 2022
8.3. Current Market Size Value (US$ Million) Analysis and Forecast By Region, 2023 to 2033
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. South Asia
8.3.5. East Asia
8.3.6. Oceania
8.3.7. MEA
8.4. Market Attractiveness Analysis By Region
9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
9.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
9.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
9.2.1. By Country
9.2.1.1. USA
9.2.1.2. Canada
9.2.2. By Service
9.2.3. By Type
9.2.4. By End-user
9.3. Market Attractiveness Analysis
9.3.1. By Country
9.3.2. By Service
9.3.3. By Type
9.3.4. By End-user
9.4. Key Takeaways
10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
10.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
10.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
10.2.1. By Country
10.2.1.1. Brazil
10.2.1.2. Mexico
10.2.1.3. Rest of Latin America
10.2.2. By Service
10.2.3. By Type
10.2.4. By End-user
10.3. Market Attractiveness Analysis
10.3.1. By Country
10.3.2. By Service
10.3.3. By Type
10.3.4. By End-user
10.4. Key Takeaways
11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
11.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
11.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
11.2.1. By Country
11.2.1.1. Germany
11.2.1.2. United kingdom
11.2.1.3. France
11.2.1.4. Spain
11.2.1.5. Italy
11.2.1.6. Rest of Europe
11.2.2. By Service
11.2.3. By Type
11.2.4. By End-user
11.3. Market Attractiveness Analysis
11.3.1. By Country
11.3.2. By Service
11.3.3. By Type
11.3.4. By End-user
11.4. Key Takeaways
12. South Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
12.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
12.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
12.2.1. By Country
12.2.1.1. India
12.2.1.2. Malaysia
12.2.1.3. Singapore
12.2.1.4. Thailand
12.2.1.5. Rest of South Asia
12.2.2. By Service
12.2.3. By Type
12.2.4. By End-user
12.3. Market Attractiveness Analysis
12.3.1. By Country
12.3.2. By Service
12.3.3. By Type
12.3.4. By End-user
12.4. Key Takeaways
13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
13.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
13.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
13.2.1. By Country
13.2.1.1. China
13.2.1.2. Japan
13.2.1.3. South Korea
13.2.2. By Service
13.2.3. By Type
13.2.4. By End-user
13.3. Market Attractiveness Analysis
13.3.1. By Country
13.3.2. By Service
13.3.3. By Type
13.3.4. By End-user
13.4. Key Takeaways
14. Oceania Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
14.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
14.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
14.2.1. By Country
14.2.1.1. Australia
14.2.1.2. New Zealand
14.2.2. By Service
14.2.3. By Type
14.2.4. By End-user
14.3. Market Attractiveness Analysis
14.3.1. By Country
14.3.2. By Service
14.3.3. By Type
14.3.4. By End-user
14.4. Key Takeaways
15. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
15.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
15.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
15.2.1. By Country
15.2.1.1. GCC Countries
15.2.1.2. South Africa
15.2.1.3. Israel
15.2.1.4. Rest of MEA
15.2.2. By Service
15.2.3. By Type
15.2.4. By End-user
15.3. Market Attractiveness Analysis
15.3.1. By Country
15.3.2. By Service
15.3.3. By Type
15.3.4. By End-user
15.4. Key Takeaways
16. Key Countries Market Analysis
16.1. USA
16.1.1. Pricing Analysis
16.1.2. Market Share Analysis, 2022
16.1.2.1. By Service
16.1.2.2. By Type
16.1.2.3. By End-user
16.2. Canada
16.2.1. Pricing Analysis
16.2.2. Market Share Analysis, 2022
16.2.2.1. By Service
16.2.2.2. By Type
16.2.2.3. By End-user
16.3. Brazil
16.3.1. Pricing Analysis
16.3.2. Market Share Analysis, 2022
16.3.2.1. By Service
16.3.2.2. By Type
16.3.2.3. By End-user
16.4. Mexico
16.4.1. Pricing Analysis
16.4.2. Market Share Analysis, 2022
16.4.2.1. By Service
16.4.2.2. By Type
16.4.2.3. By End-user
16.5. Germany
16.5.1. Pricing Analysis
16.5.2. Market Share Analysis, 2022
16.5.2.1. By Service
16.5.2.2. By Type
16.5.2.3. By End-user
16.6. United kingdom
16.6.1. Pricing Analysis
16.6.2. Market Share Analysis, 2022
16.6.2.1. By Service
16.6.2.2. By Type
16.6.2.3. By End-user
16.7. France
16.7.1. Pricing Analysis
16.7.2. Market Share Analysis, 2022
16.7.2.1. By Service
16.7.2.2. By Type
16.7.2.3. By End-user
16.8. Spain
16.8.1. Pricing Analysis
16.8.2. Market Share Analysis, 2022
16.8.2.1. By Service
16.8.2.2. By Type
16.8.2.3. By End-user
16.9. Italy
16.9.1. Pricing Analysis
16.9.2. Market Share Analysis, 2022
16.9.2.1. By Service
16.9.2.2. By Type
16.9.2.3. By End-user
16.10. India
16.10.1. Pricing Analysis
16.10.2. Market Share Analysis, 2022
16.10.2.1. By Service
16.10.2.2. By Type
16.10.2.3. By End-user
16.11. Malaysia
16.11.1. Pricing Analysis
16.11.2. Market Share Analysis, 2022
16.11.2.1. By Service
16.11.2.2. By Type
16.11.2.3. By End-user
16.12. Singapore
16.12.1. Pricing Analysis
16.12.2. Market Share Analysis, 2022
16.12.2.1. By Service
16.12.2.2. By Type
16.12.2.3. By End-user
16.13. Thailand
16.13.1. Pricing Analysis
16.13.2. Market Share Analysis, 2022
16.13.2.1. By Service
16.13.2.2. By Type
16.13.2.3. By End-user
16.14. China
16.14.1. Pricing Analysis
16.14.2. Market Share Analysis, 2022
16.14.2.1. By Service
16.14.2.2. By Type
16.14.2.3. By End-user
16.15. Japan
16.15.1. Pricing Analysis
16.15.2. Market Share Analysis, 2022
16.15.2.1. By Service
16.15.2.2. By Type
16.15.2.3. By End-user
16.16. South Korea
16.16.1. Pricing Analysis
16.16.2. Market Share Analysis, 2022
16.16.2.1. By Service
16.16.2.2. By Type
16.16.2.3. By End-user
16.17. Australia
16.17.1. Pricing Analysis
16.17.2. Market Share Analysis, 2022
16.17.2.1. By Service
16.17.2.2. By Type
16.17.2.3. By End-user
16.18. New Zealand
16.18.1. Pricing Analysis
16.18.2. Market Share Analysis, 2022
16.18.2.1. By Service
16.18.2.2. By Type
16.18.2.3. By End-user
16.19. GCC Countries
16.19.1. Pricing Analysis
16.19.2. Market Share Analysis, 2022
16.19.2.1. By Service
16.19.2.2. By Type
16.19.2.3. By End-user
16.20. South Africa
16.20.1. Pricing Analysis
16.20.2. Market Share Analysis, 2022
16.20.2.1. By Service
16.20.2.2. By Type
16.20.2.3. By End-user
16.21. Israel
16.21.1. Pricing Analysis
16.21.2. Market Share Analysis, 2022
16.21.2.1. By Service
16.21.2.2. By Type
16.21.2.3. By End-user
17. Market Structure Analysis
17.1. Competition Dashboard
17.2. Competition Benchmarking
17.3. Market Share Analysis of Top Players
17.3.1. By Regional
17.3.2. By Service
17.3.3. By Type
17.3.4. By End-user
18. Competition Analysis
18.1. Competition Deep Dive
18.1.1. ANN SATHER
18.1.1.1. Overview
18.1.1.2. Product Portfolio
18.1.1.3. Profitability by Market Segments
18.1.1.4. Sales Footprint
18.1.1.5. Strategy Overview
18.1.1.5.1. Marketing Strategy
18.1.2. Aramark Corporation
18.1.2.1. Overview
18.1.2.2. Product Portfolio
18.1.2.3. Profitability by Market Segments
18.1.2.4. Sales Footprint
18.1.2.5. Strategy Overview
18.1.2.5.1. Marketing Strategy
18.1.3. ARIA CATERING
18.1.3.1. Overview
18.1.3.2. Product Portfolio
18.1.3.3. Profitability by Market Segments
18.1.3.4. Sales Footprint
18.1.3.5. Strategy Overview
18.1.3.5.1. Marketing Strategy
18.1.4. AVI Foodsystems, Inc.
18.1.4.1. Overview
18.1.4.2. Product Portfolio
18.1.4.3. Profitability by Market Segments
18.1.4.4. Sales Footprint
18.1.4.5. Strategy Overview
18.1.4.5.1. Marketing Strategy
18.1.5. Bartlett mitchell Ltd.
18.1.5.1. Overview
18.1.5.2. Product Portfolio
18.1.5.3. Profitability by Market Segments
18.1.5.4. Sales Footprint
18.1.5.5. Strategy Overview
18.1.5.5.1. Marketing Strategy
18.1.6. BLACK OLIVE CATERING
18.1.6.1. Overview
18.1.6.2. Product Portfolio
18.1.6.3. Profitability by Market Segments
18.1.6.4. Sales Footprint
18.1.6.5. Strategy Overview
18.1.6.5.1. Marketing Strategy
18.1.7. CH and Co Catering Group Ltd.
18.1.7.1. Overview
18.1.7.2. Product Portfolio
18.1.7.3. Profitability by Market Segments
18.1.7.4. Sales Footprint
18.1.7.5. Strategy Overview
18.1.7.5.1. Marketing Strategy
18.1.8. Compass Group plc
18.1.8.1. Overview
18.1.8.2. Product Portfolio
18.1.8.3. Profitability by Market Segments
18.1.8.4. Sales Footprint
18.1.8.5. Strategy Overview
18.1.8.5.1. Marketing Strategy
18.1.9. Delaware North Companies Inc.
18.1.9.1. Overview
18.1.9.2. Product Portfolio
18.1.9.3. Profitability by Market Segments
18.1.9.4. Sales Footprint
18.1.9.5. Strategy Overview
18.1.9.5.1. Marketing Strategy
18.1.10. Dine Contract Catering Ltd.
18.1.10.1. Overview
18.1.10.2. Product Portfolio
18.1.10.3. Profitability by Market Segments
18.1.10.4. Sales Footprint
18.1.10.5. Strategy Overview
18.1.10.5.1. Marketing Strategy
18.1.11. DO & CO Aktiengesellschaft
18.1.11.1. Overview
18.1.11.2. Product Portfolio
18.1.11.3. Profitability by Market Segments
18.1.11.4. Sales Footprint
18.1.11.5. Strategy Overview
18.1.11.5.1. Marketing Strategy
18.1.12. DoorDash Inc.
18.1.12.1. Overview
18.1.12.2. Product Portfolio
18.1.12.3. Profitability by Market Segments
18.1.12.4. Sales Footprint
18.1.12.5. Strategy Overview
18.1.12.5.1. Marketing Strategy
18.1.13. Elior Group SA
18.1.13.1. Overview
18.1.13.2. Product Portfolio
18.1.13.3. Profitability by Market Segments
18.1.13.4. Sales Footprint
18.1.13.5. Strategy Overview
18.1.13.5.1. Marketing Strategy
18.1.14. ISS Facility Services Inc.
18.1.14.1. Overview
18.1.14.2. Product Portfolio
18.1.14.3. Profitability by Market Segments
18.1.14.4. Sales Footprint
18.1.14.5. Strategy Overview
18.1.14.5.1. Marketing Strategy
18.1.15. Mitie Group plc
18.1.15.1. Overview
18.1.15.2. Product Portfolio
18.1.15.3. Profitability by Market Segments
18.1.15.4. Sales Footprint
18.1.15.5. Strategy Overview
18.1.15.5.1. Marketing Strategy
18.1.16. Sodexo S.A
18.1.16.1. Overview
18.1.16.2. Product Portfolio
18.1.16.3. Profitability by Market Segments
18.1.16.4. Sales Footprint
18.1.16.5. Strategy Overview
18.1.16.5.1. Marketing Strategy
19. Assumptions & Acronyms Used
20. Research Methodology
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Catering Services Market
