Report on Global Contract Caterings Market
New Study Reports “Contract Caterings Market 2019 Global Market Opportunities, Challenges, Strategies and Forecasts 2025”.
Scope of the report:
A new report added to the online inventory of Wise Guys Reports (WGR) reveals that the global contract caterings market is set to expand at 5% compound annual growth rate (CAGR) from 2017 and 2023. The global contract caterings market is set to reach to USD 264 billion by 2023.
Contract caterings are a kind of legal agreements which is signed between the client and caterer to supply food and refreshments at the workplace, for a specified period of time. The clients have an option to select the contract style as per their business’ requirements, style of food, employee expectations, working environment, place, catering competition and catering policy.
Due to flexibility offered by the vendor to the clients, through new service models the demand of global caterings market is expanding at a fast speed. The caterers are implementing predictive analytics to enhance the operational efficiency of catering services along with ways to reduce wastage as well thus driving the market size.
The advantages offered by healthy food are also viewed as a prominent market driver. The increasing focus on wellbeing and health by several businesses, hospitals and educational is expected to fuel the global catering market. Though, some of the challenges affecting the market size are also studied in the report.
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Global Contract Caterings Market: Segmental Analysis
The segmental analysis of the market has been done on the basics of type, application and region.
By type, the market has been segmented Wedding Services Catering, Corporate Catering, Buffet Catering and others.
Based on application, the market has been divided into Industry, Education, Hospitals and Others.
Global Contract Caterings Market: Regional Analysis
On the basis of region, the market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Rest of the World (RoW). Countries including the U.S, Mexico and Canada are covered in North America while countries including the UK and Germany are included in European region. In APAC, countries such as Japan, China and India are covered. Countries like Brazil, Mexico etc are included in Latin America. The increasing need of faster services and convenience across various end-user segments are some of the factors that will result in the growth of the contract caterings in North American market during the forecast period. In APAC region countries such as India, Japan, China are expected to hold a significant share of the global contract caterings market. The new trend towards healthy eating preferences is one of the key drivers of the APAC market. The extended eating options in the menu list have resulted in higher demand for flexible food operations in the European contract catering services as well. Additionally the growing popularity of home meal replacements and fresh food subscription services is motivating companies to come up with new healthy meal plans and products to cater the global contract caterings market.
The report will provide the updated analysis of market share, growth drivers, some of the challenges, and investment opportunities as well in the global contract caterings market.
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