Catering Service Market is to grow at 5.6% CAGR, with Europe leading the market through 2030

The Catering Service Market is expected to reach USD 218.81 Bn by 2030, the market is driven by evolving lifestyles, changing food preferences, rapid urbanization, and the growing number of nuclear families.

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Catering Service Market to Hit USD 218.81 Bn by 2030

The Catering Service Market was USD 149.42 Bn in 2023 and is expected to expand at a compound annual growth rate (CAGR) of 5.6 % from 2023 to 2030, reaching USD 218.81 Bn by 2030. Due to busy lifestyles, urbanization, the rise in dual-income households, and time-poor professionals there is increasing demand for catering services. Without investing time in cooking, catering services give people, companies, and event planners a simple method to serve delicious meals. Professional catering is becoming more and more important to businesses and organizations for team-building exercises, conferences, meetings, and corporate events. Additionally, catering services play a crucial role in social events like parties, weddings, and get-togethers. As of 2024, in the United States, there are approximately 102,000 catering businesses which results in rapid market growth.

Catering Service Market Segmentation

By Service type: Contractual catering involves a formal, binding contract between the client and the caterer. The terms of service, payment, the scope of catering, and other important details are outlined in the agreement, which mainly involves daily meal provisions for schools, hospitals, corporate offices, or large institutions. Non-contractual catering services are provided on an ad-hoc, one-time, or short-term basis. This is typically for events like weddings, birthdays, parties, or other one-time gatherings.

By End User: Inflight catering refers to the preparation of meals for airline passengers. The meal can differ according to the airline's service level (economy, business, or first class), ranging from simple snack options to full-course meals. Educational Institutions Catering includes food for student groups, events, athletic events, and cafeterias. Hospitality Catering includes banquets, conferences, meetings, business events, and weddings.

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Catering Service Market Regional Analysis

The United States In 2023, the market for catering services in the United States was estimated to be worth $14.8 billion. Major cities like New York, Boston, and Philadelphia with active social scenes and high levels of business activity, boost good markets for event catering. In California especially cities like Los Angeles, San Francisco, and San Diego are significant hubs for Catering Service Market.

Germany In 2023, the German catering service industry is expected to be worth over €10 billion. One of the primary factors driving demand is corporate catering for conferences, seminars, and staff gatherings, due to numerous multinational companies, industrial hubs in Germany.

China In 2023, the Chinese catering service industry was estimated to be worth almost $685 billion. Serving office workers, business meetings, conferences, and large-scale corporate events is the main emphasis of corporate catering services in China. Cities like Guangzhou, Shanghai, and Beijing have a particularly high demand for catering services.

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Catering Service Market Competitive Landscape

HMSHost (United States) In 2021, HM Host acquired Sbarro, a well-known pizza restaurant that has stores in malls and airport food courts all around North America.

Sodexo acquired Additions a healthcare sector in 2020. Also, in 2021 Sodexo acquired Midas Services. Sodexo has been progressively building its Sodexo Live! Division for catering and venue management.

Zhenghe Catering (China) is a catering service company, which is invested in new catering platforms or technological solutions to increase company capabilities and provide better client service.

Conclusion

Catering firms are moving toward more customized offers, as customers seeking more individualized menu selections to suit special occasions, dietary restrictions, and themed parties.
Due to rising urbanization and shifting lifestyles, the catering service business is expanding rapidly in emerging economies such as China, India, and portions of Latin America.
etition analysis, production and demand analysis, and client impact studies.

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