The Business Research Company’s Catering Services And Food Contractors Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022 – 2026
LONDON, GREATER LONDON, UK, January 5, 2022 /EINPresswire.com/ — The catering services and food contractors market trends include forming alliances to serve food to schools, colleges, and universities. Market players are also involved in the development of mobile apps that provide tailored food options to meet the needs of each individual. For instance, in March 2021, Sodexo, the foodservice and facilities management company, has announced a partnership with HelloFresh, the meal kit leader, to deliver HelloFresh and EveryPlate meal kits to students at more than 300 colleges and universities in the United States. Students can pre-select, order, and schedule meal kits for delivery using Sodexo’s BiteU app. Whether students are vegetarian, on a low-calorie diet, or looking for something quick and easy, HelloFresh allows them to choose from a vast changing weekly menu. EveryPlate is a rotating menu of simple and affordable chef-curated recipes, including vegetarian and gourmet options.
Western Europe was the largest region in the catering services and food contractors market in 2021. North America was the second largest region in the catering services and food contractors market. The regions covered in TBRC’s catering services and food contractors market overview are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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The global catering services and food contractors market size is expected to grow from $187.64 billion in 2021 to $275.90 billion in 2022 at a compound annual growth rate (CAGR) of 47%. The catering services and food contractors market analysis explains the growth in the catering services and food contractors market to be mainly due to companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The catering services and food contractors market is expected to reach $378.39 billion in 2026 at a CAGR of 8.2%.
The catering services and food contractors market growth is aided by stable economic growth forecasted in many developed and developing countries. Recovering commodity prices, after a significant decline in the historic period is further expected to aid the market growth. Developed economies are also expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than the developed markets in the forecast period. For instance, according to Reserve Bank of India, India’s GDP is expected to grow at 9.5% during the year 2022, whereas China is forecasted to register GDP growth of 5.5% in 2022. Stable economic growth is expected to increase the demand for services offered by this industry, thereby driving the market during forecast period.
Major players covered in the global catering services and food contractors industry are Compass group plc, Sodexo, Aramark corporation, Elior Group, Autogrill SpA, SSP Group plc, Lufthansa Group, DO & CO AG, Samsung C&T Corporation and Thompson Hospitality.
TBRC’s global catering services and food contractors market segmentation is by type into food service contractors, catering services and by ownership into chained, standalone.
Catering Services And Food Contractors Global Market Report 2022 – By Type (Food Service Contractors, Catering Services), By Ownership (Chained, Standalone) – Market Size, Trends, And Global Forecast 2022 – 2026 is one of a series of new reports from The Business Research Company that provides a catering services and food contractors market overview, forecast catering services and food contractors market size and growth for the whole market, market segments, geographies, market trends, market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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