The shift of focus on wellness and diet and the increasing interrelation of nutrition and productivity is one of the primary factors attributing to the growth of the global contract catering services market. The growing demand from segments such as hospitals, education, senior care, offshore, and defense will create lucrative opportunities in the global market. The growing trend of hospitality and fine dining as a client relationship and business development tool for entertaining guests across various organizations will boost revenues in the contract catering services market. The development of new business models that offers on-demand online system and ad-hoc workplace food will revolutionize this service industry in the global market. The foodservice providers are providing first-class table service, exotic ingredients, flexing of offerings, and inventive ways to transform the global market. Furthermore, value additions such as employee support, training, and guaranteed service-level agreements will augment the development of the service market.

The global contract catering market is projected to reach revenues of more than $264 billion by 2023, growing at a CAGR of approximately 5% during 2017-2023.

The top industries served in the contract catering services market are discussed in detail below:

  • B&I

The B&I sector include companies across the board from products to services. The strong connection with food that helps improve alertness, productivity, concentration, and problem-solving skills is a major contributing factor in this segment in the global contract catering services market. The increasing level of competition is leading to the appointment of high street and retail vendors in the B&I industry. The caterers are altering interiors and offering different menu concepts which include healthy meals, fresh produce, and quality ingredients to attract a maximum number of consumers in this segment. Contract caterers are also emulating high street pop-ups and offering their versions of street food in the global contract catering services market. For instance, Sodexo offered build-your-own options at BMS to avoid repetitive menus and allow customization.

  • Education

The market is witnessing a paradigm shift in the significance of food and nutrition on the student’s performance and development. Various schools, universities, and colleges are hiring caterers to define meal times and their constituents thereby, propelling the growth of the global contract catering services market. The foodservice operators are offering a plethora of well-rounded services that can take care of everything from fostering social skills to inculcating healthy food habits in ways that are of interest to the customer base. The service providers are providing cookery lessons to increase awareness about food, sourcing ingredients, cooking, and healthy food fostering a better understanding of diets; such value-added services will propel the development of the education sector in the global contract catering services market.

  • Healthcare

The healthcare sector focuses on nutrition which is vital for a patient’s fast recovery from illness. The contract caterers in this segment are involved in providing the best service to patients, staffs, and visitors global contract catering services market. The services offered by operators in the healthcare industry includes meals that are characterized by high calories, low fat/low sugar, meals with certain excluded ingredients, easily digestible, and chewable properties. The availability of high nutrient food menus, restaurant-style menus, grab and go concepts, room service, on-demand dining, vending options, and hybrid models will transform the global contract catering services market during the forecast period. For instance, Oakville Trafalgar Memorial Hospital offered a “Call to Order” room service food delivery model with a wide range of therapeutic menus to its child, maternal, and medical/surgical units.

  • Senior Care

The rising demand for senior care homes and stringent standards heavily scrutinized by regulatory bodies and government organization will propel the growth of the global contract catering services market. The increasing availability of remote health monitoring is propelling the demand for carefully crafted meals as per their medical requirements, delivered to customers’ homes. Moreover, foodservice operators are offering finger foods rather than meals which are kept near the residents, so the probability of eating it is more. Such initiatives will create a positive experience, help in to heighten the efficiency of food intake, and be a part of the larger customer journey. The focus on crafting beautiful plates and other value-added services will augment the growth of the global contract catering services market.

  • Others

Government organizations such as prisons and defense sectors are rife with large workforces and are thus catered through canteens and messes offering a diverse range of diets considering it cater at a large scale. The vendors are offering a healthy balanced diet to meet with personnel’s fitness requirements in the global contract catering services market. Foodservice operators are dealing with this by streamlining food distribution using large-scale distributors, implementing waste-reduction measures and sourcing products from private label distributors in the global market. The scale of sport and entertainment events are enlarging driving requirements for a range of food outlets. Contract caterers often offer foodservices that are seasonal as retail style offerings for athletes, performers, and VIP guests. The introduction of these unique services will augment the development of the global contract catering services market during the forecast period.

The leading vendors in the global contract catering services market are:

  • Compass Group
  • Sodexo
  • Elior Group
  • Aramark Services
  • WSH
Read: Contract Catering Market - Global Outlook and Forecast 2018-2023Read: Contract Catering Market in US - Industry Outlook and Forecast 2018-2023

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