Global Catering Services And Food Contractors Market Is Valued At $1 Trillion In 2017 According To TBRC’s Latest Report

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...

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.

Read More: https://www.thebusinessresearchcompany.com/report/catering-services-and-food-contractors-global-market-report-2018

The global catering services and food contractors market is valued at over $1 trillion in 2017. The reason for this is the increasing spending power of its consumers. Steady gains in disposable personal income are expected to boost the industry in the forecast period. Disposable incomes are expected to rise in developed and in some developing countries, as well as the Pacific Rim countries such as Malaysia, Indonesia, and Vietnam.

The market in the report is segmented into: caterers and food service contractors.

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China was the largest country in the catering services and food contractors market in 2017, accounting for more than two-fifth of the market share, followed by Japan and USA.

The top five competitors in the market made up almost 6% of the total market in 2017. Compass Group plc was the largest competitor, followed by Sodexo, Aramark Corporation, Elior Group and Delaware North. Compass Group plc is a British multinational contract foodservice, cleaning, property management and support services company. It is headquartered in the Compass House in Chertsey, Surrey, UK. It is the largest contract foodservice company in the world and has operations in 50 countries.

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