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.
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.
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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