Global Catering Services Market Report and Forecast 2024-2032

Global Catering Services Market Report and Forecast 2024-2032

Market Outlook

According to the report by Expert Market Research (EMR), the global catering services market is aided by the overall food service industry, which is expected to grow at a CAGR of 6.6% between 2024 and 2032 reaching a value of approximate USD 266.35 billion by 2032. Aided by the evolving consumer lifestyles, the rising demand for curated experiences, and the expansion of corporate and event sectors, the market is projected to grow significantly by 2032.

Catering services, encapsulating a spectrum from event catering to corporate meal solutions, have gained traction in recent years. With the rise of globalisation, people are more exposed to diverse cuisines and expect a similar gastronomic experience at events, be they personal or corporate. This demand for diverse, high-quality food and the convenience of professional service has positioned catering as an indispensable part of modern events.

The surge in corporate events, conferences, and seminars worldwide has played a significant role in influencing the catering services market outlook. Companies, aiming to make an impression, are increasingly relying on caterers to provide top-notch food and beverage services that not only satiate but also mesmerise attendees. The need for regular corporate lunches and the trend of workplace wellness also contribute to the burgeoning demand for reliable catering services.

Weddings, birthdays, and other personal events are generating a healthy catering services market demand. With the rise of the experience economy, there’s a notable shift from traditional to themed or bespoke events. Caterers are often tasked with creating tailor-made menus that resonate with the theme, ensuring a holistic experience for guests. This has not only increased the demand for catering services but also pushed them to innovate continually.

Another significant evolution in the catering sector is the rise of tech-integrated services. With the digital revolution transforming every industry, catering services are integrating technology to streamline bookings, offer virtual menu trials, and incorporate feedback. Digital platforms also facilitate reviews and ratings, compelling caterers to maintain impeccable service standards consistently.

As per the catering services market analysis, the health and wellness trend has deeply permeated the catering industry. The demand for organic, vegan, and gluten-free menu options has surged. There's a growing segment of consumers who prioritise health without compromising on taste. Recognising this shift, caterers are reimagining their menus, incorporating fresh, locally-sourced ingredients, and adopting healthier cooking techniques.

Market Segmentation

The market can be divided based on service type, application, and region.

Market Breakup by Service Type

• Contractual
• Non-contractual

Market Breakup by Application

• Wedding Catering
• Corporate Catering
• Social Events Catering
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global catering services market. Some of the major players explored in the report by Expert Market Research are as follows:

• ISS A/S
• Sodexo S.A
• Compass Group plc
• Elior Group
• Jones Lang LaSalle IP, Inc.
• Aramark Corporation
• AVI Foodsystems, Inc
• Thompson Hospitality
• Albron
• Hutten Catering BV
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.