The catering services and food contractor’s industry offers food services per single event or on a contractual basis. Such establishments include banquet halls with catering services, caterers, airline food service caterers, canteen catering services and contractual caterers. This industry does not include food vending machines and mobile food services (food trucks) and renting of non-residential buildings without food catering services.
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The global catering services and food contractors market has been growing in the past years with a CAGR of almost 9%. TBRC’s latest report show the historic and future trends in the market for each year with sourced reasons to support the growth claims.
The report also shows the global catering services and food contractors market to grow at a higher CAGR by 2021 as compared to 2017, along with geographies best suited for investments with highest return rate.
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Catering services and food contractors are increasingly sourcing local and organic raw materials and ingredients to produce meals. Many individuals in the 18-35 age group prefer organic meals as they are becoming conscious about their eating habits and lifestyles. For instance, more than 1.5 million meals are delivered daily under Food for Life brand that is famous for its organically balanced meals. Establishments in the industry are increasingly seeking to differentiate themselves by upgrading their ingredients and experimenting with healthier meals.
Companies included in the report are Compass Group plc, Sodexo, Aramark Corporation, Elior Group, Delaware North, and Thompson Hospitality.
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