Growing hospitality sector and increasing commercialization to drive global catering services market through 2024
According to TechSci Research report, “Global Catering Services Market By Type, By End User, By Region, Competition, Forecast & Opportunities, 2024”, global catering services market is projected to cross $ 205 billion by 2024, on the back of increasing focus on wellbeing and health by several hospitals, businesses, elderly care centers and educational institutions. Growing popularity of home meal replacements and fresh food subscription services is expected to drive global catering services market during forecast period.
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By end user, the market has
been categorized into industrial, hospitality, educational, healthcare,
in-flight and others. Among the end users, industrial category accounted for
majority of the global catering services market share in 2018. Expatriates
working in different industries like manufacturing, oil & gas, construction,
utilities and mining sites are the major revenue generators for catering
companies in the Middle Eastern region. Moreover, hospitality category is expected
to witness healthy growth during the forecast period, on account of increasing demand
for meals that are categorized into high calories, low fat/low sugar, or meals
with certain excluded ingredients, easily digestible, and chewable properties.
Asia-Pacific is expected to account for the largest share in the global
catering service market in coming years, owing to stringent regulations that
promote people towards healthy eating.
“Constantly changing dynamics of the
modern workforce and insatiable appetite for different types of cuisines are
some of the major factors expected to aid global catering services market. The
growing need for hospitality and fine dining as a way of building relationships
with clients and a tool to develop business for entertaining guests is
anticipated to result in growth opportunities for players operating in global contract
catering services over the course of next five years.” said, Mr. Karan Chechi,
Research Director with TechSci Research, a research based global management
“Global Catering Services Market By Type, By End User, By Region, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of global catering services market and provides statistics and information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global catering services market.
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