The growing acceptability for fresh food services and home meal replacements is the major factor expected to impel the market growth. The Global Contract Catering Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
The global contract catering market was valued at US$ 215.9 billion in 2018, and is expected to exhibit a CAGR of 5.8% over the forecast period (2019-2027), to reach US$ 355.6 billion by 2027.
Contract Catering is the service provided by the independent caterer on demand of the organization to deliver the services regularly. The contract is being signed for the particular set of periods to serve the service. The caterers are executing better services by anticipating the demand of the consumer, increasing efficiency of the services, and reducing wastage Large number of dealers are offering flexible online services, by fulfilling the requirement of the buyers.
In the report, the market outlook section mainly encompasses fundamental dynamics of the market which include drivers, restraints, opportunities, and challenges faced by the industry. Drivers and restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market.
The growing acceptability for fresh food services and home meal replacements is the major factor expected to impel the market growth. Increasing health awareness among the population tends to build healthier and nutritive food choices and the adoption of the services by the educational institutes, healthcare sectors, businesses, are some other factors fueling the market growth. However, the concerning factors such as the fidelity of the contractors towards the organization and the increasing cost of services in response to the declination in the level of services contribute to hindering the growth of the market.
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