The global contract catering market was valued at US$ 215.9 billion in 2018, according to Contract Catering Market Report, by Sector (Corporate, Industrial, Hospitality Services, Healthcare, Educational Institutions, Sports & Leisure, and Others), and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa) published by Coherent Market Insights.
The global contract catering market is expected to reach US$ 355.6 billion by 2027, exhibiting a CAGR of 5.8% over the forecast period.
Growing government initiatives for offering healthy food at educational institutes is expected to fuel growth of the global contract catering market over the forecast period. For instance, in April 2017, Government of Singapore introduced Whole-of-Government (WOG) Healthier Catering Policy. The policy was introduced to encourage healthier eating at homes, workplaces, and communities in Singapore. As per the policy, the government entities in Singapore will be provided with healthy food and drinks at the government organized functions, conferences, trainings, and meetings through catering.
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Browse 44 market data tables* and 82 figures* on "Contract Catering Market” - Global forecast to 2027.
Key Trends and Analysis of the Contract Catering Market:
Increasing awareness about consumption of healthy food is one of the key factors that is expected to facilitate growth of the contract catering market. Healthy food is a basic requirement in case of hospitals and medical centers, among others. For instance, Sodexo provides healthy menu suited for a patient’s requirement. The company offers healthier food by limiting usage of salt, sugar, and fat, while increasing fresh fruits and vegetables offering in the healthcare sector.
Moreover, Cater Care, an Australia-based contract catering company develops its healthy menu on the basis of recommendations from the Australian Dietary Guidelines for Healthy Eating. This menu is developed keeping in mind the specific nutritional intake requirements of the patients. Apart from this, the fresh seasonal menu is developed depending on the fresh supplies obtained from the local suppliers and by meeting the strict patient meal standards.
Key Takeaways of the Market: