According to TechSci Research report, “Catering Services Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2030F”, the global Catering Services market stood at USD 293.78 billion in 2024 and is expected to grow USD 378.42 billion by 2030 with a CAGR of 6.34% during the forecast period.
The global Catering Services market is experiencing significant growth owing to the rising disposable income across the region. As people’s incomes increase, they are more willing to spend on convenience and premium experiences, including catered meals for social and corporate events. Middle-class populations, particularly in emerging markets, are experiencing increased purchasing power, allowing them to opt for high-quality catering services for personal celebrations like weddings, parties, and family gatherings.
Also, businesses are more likely to invest in professional catering for corporate events and meetings. This shift toward spending on food services reflects growing consumer preference for convenience, quality, and customized experiences, driving demand in the catering industry.
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The global catering services market is driven by high household income across the world. As disposable incomes rise, individuals and families have more financial flexibility to invest in premium services, including catering for various events. Higher-income households are increasingly opting for professional catering for weddings, celebrations, parties, and corporate gatherings, seeking convenience, quality, and unique experiences.
These households often demand high-end menus, gourmet meals, and personalized services, further fueling demand for specialized catering services. Also, the growing trend of dual-income families, who have less time for home cooking, contributes to the increasing reliance on catering services.
As a result, higher household incomes play a crucial role in expanding the market for catering services globally, particularly in developed economies.
The global Catering Services market is segmented into service type, end user, and region.
Based on the end user, the corporate segment is the fastest growing in the global Catering Services market, driven by the increasing number of businesses events, conferences, seminars, and meetings that require professional catering. Corporates are increasingly investing in catering services to enhance employee engagement, client relations, and overall event experiences. These events often require large-scale catering solutions, from buffets to customized meals, tailored to diverse tastes and dietary preferences. The growing focus on wellness and healthier meal options within corporate settings has further spurred demand for catering services that offer nutritious, balanced meals. Also, companies are opting for eco-friendly catering solutions to align with sustainability initiatives, contributing to the growth of this segment.
Regional Insights
North America dominated the global Catering Services market, primarily driven by the high demand for catering in corporate events, weddings, and social gatherings. The region boasts a well-established hospitality industry, with a significant number of hotels, restaurants, and event venues requiring catering services for large-scale events. The growing trend of corporate meetings, conferences, and trade shows also contributes to the increased demand for professional catering. Also, rising disposable incomes and a preference for convenience have led consumers to opt for catering services for personal events. As a result, North America remains a leading market for catering services, with both domestic and international players catering to diverse needs across the region.
Recent Developments in Catering Services Market
- In August 2024, Compass India Food Services Private Limited, a subsidiary of Compass Group, a leading provider of food and facility management services, has acquired a majority stake in Delhi-based ICS Foods Private Limited (ICS Foods), a well-known food and beverage catering company with extensive manufacturing experience. This strategic acquisition represents a significant step forward in Compass Group India’s growth journey, as the country’s largest and fastest-growing food services company.
- In May 2024, Compass Group India, one of the fastest-growing food and support service providers, announced the opening of its largest Central Kitchen in Bengaluru. The 29,000-square-foot Central Kitchen, strategically positioned in Whitefield’s business district, represents a huge step forward in the brand’s ability to service ever-increasing demand in the corporate, education, healthcare, and manufacturing industries. This initiative strengthens the company’s position as a leader in the foodservice business.
Major companies operating in the global Catering Services market are:
- Compass Group
- Sodexo
- Aramark
- AVI Foodsystems
- CaterNinja
- Vitality Bowls
- The Happy Catering Company
- The Catering Company
- San Francisco Catering Company
- Robert’s Catering Service
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“The global Catering Services market is expected to grow in the upcoming years owing to the expansion of hotels across the region. As the hospitality industry grows, particularly in emerging markets, hotels are increasingly offering catering services for a wide range of events such as conferences, banquets, weddings, and business meetings. With the rise in travel and tourism, hotels are enhancing their service offerings to include diverse catering options that appeal to both leisure and corporate clients. The demand for high-quality, customized catering services at hotels has surged, as clients seek unique dining experiences for special events.
Also, luxury hotels are adopting innovative catering solutions, such as themed menus and fine dining, to cater to affluent customers, further boosting the catering market. The expansion of hotel chains and resorts worldwide contributes significantly to the increased need for professional catering services, driving market growth,” said Mr. Karan Chechi, Research Director of TechSci Research, a research-based management consulting firm.
“Catering Services Market –Global Industry Size, Share, Trends, Opportunity and Forecast, By Services Type (Contractual, Non-Contractual), By End User (Healthcare, Corporates, Education, Hospitality, Industrial, In-Flight, Others), By Region & Competition,2020-2030F”, has evaluated the future growth potential of global Catering Services market and provides statistics & 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 the global Catering Services market.
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