The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
LONDON, July 26, 2023 /PRNewswire/ -- According to The Business Research Company's Catering Services And Food Contractors Global Market Report 2023, the global catering services and food contractors market size will grow from $269.1 billion in 2022 to $281.4 billion in 2023 at a compound annual growth rate (CAGR) of more than 4%. The catering services and food contractors market size is then expected to grow to $330.9 billion in 2027 at a CAGR of more than 4%. The catering services and food contractors market growth will be supported by rising population and rising urbanization in the forecast period.
The global catering services and food contractors market is fairly fragmented, with a large number of players operating in the market. Compass Group PLC was the largest competitor with 5.20% share of the catering services and food contractors market, followed by Sodexo, Inc., Aramark Corporation, Elior Group S.A., Autogrill S.p.A, Samsung C&T Corporation, Deutsche Lufthansa AG, Subway, SSP Group plc., and DO & CO Aktiengesellschaft.
Learn More On The Catering Services And Food Contractors Market Report - https://www.thebusinessresearchcompany.com/report/catering-services-and-food-contractors-global-market-report
The catering services and food contractors market report highlights that companies in the catering services and food contractors market are focusing on new service launches. For example, in November 2022, Emirates, a Dubai-based airline company, launched an exclusive private catering service for weddings and large-scale events in UAE national day celebrations. The service is provided via the launch of the Emirati Kitchen where Emirati chefs will create best-selling local dishes for private events.
Further, in March 2023, Aramark, a US-based food service provider, launched new food collective, Loch & Larder, at Eastgate Shopping Centre in Inverness. Loch & Larder hosts innovative food and drinks brands, showcasing high-quality local produce and creating an inviting, enjoyable atmosphere. The centerpiece of the new food and beverage offering comes from Scotland's National Chef, Gary Maclean, with his restaurant, Scottish Kitchen. Loch & Larder hosts six delicious food concepts within one area of the center, Cluck, renowned for both tasty buttermilk chicken and vegan options; SweetNess, a dessert destination; Inver Mercato, an Italian deli with a variety of pizzas and salads; Ness n Korma, a modern fusion take on authentic Indian street food.
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As per the report the key segments in the global catering services and food contractors are categorized-
1) By Type: Food Service Contractors, Catering Services
2) By Ownership: Chained, Standalone
3) By Application: Tourist Accommodation, Official Business
To capitalize on these high growth segments in the catering services and food contractors market, The Business Research Company recommends player to adopt strategies such as strengthening business operations through strategic acquisitions and investments, enhancing operational capabilities through the launch of new solutions, expanding business capabilities through securing new contracts.
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