US contract catering market research report

Contract Catering Market in US - Industry Outlook and Forecast 2018-2023

PUBLISHED DATE : Sep 2018 | Pages : 198

Up to $1650 off Untill Oct 2020

US CONTRACT CATERING MARKET SIZE IS EXPECTED TO REACH VALUES OF AROUND USD 63 BILLION BY 2023, GROWING AT A CAGR OF MORE THAN 4% DURING THE FORECAST PERIOD

US contract catering market offers analysis on market size & forecast, market share, industry trends, growth drivers, and vendor analysis. The market study also includes insights on segmentation by industry (B&I, education, healthcare, senior care, sports & leisure, and others), by contract type (fixed price, cost-plus, and others), by delivery (IFM and single service), and by the facility (on-premise and on and off-premise) Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2018– 2023

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Most Exhaustive Report

198 Pages

20 Tables

68 Charts

1 Regions

1 Countries

19 Companies

4 Market Segment

US CONTRACT CATERING MARKET REPORT SCOPE

Report Attribute Details
MARKET SIZE (REVENUE) USD 63 BILLION (2023)
CAGR 4% (2028-2023)
BASE YEAR 2017
FORECAST YEAR 2018-2023
MARKET SEGMENTS Industry (B&I, education, healthcare, senior care, sports & leisure, and others), by contract type (fixed price, cost-plus, and others), by delivery (IFM and single service), and by the facility (on-premise and on and off-premise)
GEOGRAPHIC ANALYSIS United States
COUNTRIES COVERED United States

INDUSTRY INSIGHTS

The drastic changes in which companies and institutions alike are looking for initiatives that enable them to focus their energy and resources on their core capabilities and goals are augmenting the growth of US contract catering market. The leading caterers are offering overhauling menus, harmonizing the ambiance, digitalizing the experience, and paying extra attention to the little details to increase consumer satisfaction and gain a large market share. The companies are providing value-added services and offerings, and the adopting cutting-edge technologies to improve the overall consumer experience in the US market. The growing requirement to change with the modern workforce and provide a board range of services will augment the development of the US market. The revamping of the nutritional regulations on items such as whole grains and sodium will encourage vendors to offer healthy food options to its consumers in the market. The trend towards nutrition education, the introduction of mall and food court-like food, and feedback gathering will help boost revenues in the US market. The dining apps are becoming a part of menu evaluation across campuses in the US and are allowing students to track calories and evaluate menus across campus in real time. The launch of the “better-for-you” movement will drive the transformation of the US contract catering market.

The focus on innovation and new approaches will help contract caterers attract a large number of consumers in the US market. Companies are offering a complete dining experience with fresh, customized meals in the morning and afternoon to meet dynamic consumer requirements in the market. 

US Contract Catering Market - Dynamics

The rise in the fresh food subscription model is expected to revolutionize the US contract catering market over the next few years. The recent trend of home meal kits or fresh food subscriptions will create lucrative opportunities for leading vendors operating in this market. Companies such as Guckenheimer, Aramark, and Sodexo are offering home meal replacement programs which have evolved into fresh food subscription services considering the health trends in the market. The foodservice operators are providing cook-from-scratch fresh foods, customization, and options for special diet meals such as vegan, vegetarian, low carb and caloric meals to attract a maximum number of consumers in the US market. The strategy of locally sourced ingredients that support local communities and make grab n’ go outlets will promote goals of sustainability and offer convenience to several vendors in the market. Furthermore, the installation of high-tech fridges that enable self-service takeaway meals will transform the US contract catering market.

US Contract Catering Market - Segments

This market research report includes a detailed segmentation of the market by industry, contract type, delivery, and facility.

US CONTRACT CATERING MARKET – BY INDUSTRY

Sustainability measures and efforts to reduce carbon footprint in the B&I sector will fuel the growth of the US contract catering market

The US contract catering market by industry is segmented into B&I, education, healthcare, senior care, sports & leisure, and others. B&I industry dominated the largest market share in 2017, growing at a CAGR of over 3% during the forecast period. The increasing focus on sustainability, food wastage, consumer health, product procurements, cost, and customer service are some of the factors attributing to the growth of this segment in the global market. The development of in-office catering or fast-casual philosophies is used by catering companies to attract corporate tenants in the US market. The implementation of digital technologies that enable touchscreen ordering equipped with audio navigation bars will revolutionize the US contract catering market. The foodservice operators in the education sector are enhancing the dining experience along with promoting nutrition education, health, and wellness to boost their revenues in the US market. The incorporation of seasonal and local food, sourcing more fair trade, organic, and sustainable vegetarian meals in the healthcare sector will transform the market.

US CONTRACT CATERING MARKET – BY CONTRACT TYPE

Innovations in the product offering and simplification of menus in fixed-priced contracts to drive the US contract catering market

The contract type in the US contract catering market is classified into fixed price, cost-plus, and others. The fixed-price segment occupied majority of the market share in 2017, growing at a CAGR of around 4% during the forecast period. The growing demanding next-level service and improvement in the quality of food is propelling the demand for these services in the US market. The catering trend towards seasonality in the menu wherein both the operator and customer benefits from the quality of the food will create a positive impact on the development of this sector in the market. The vendors are becoming innovative by using uncommon cuts of meat, other foods, and simplifying menus to gain a larger US contract catering market share. The increasing dependency on automation and feedback collection is driving the demand for technologies and boosting the growth of the cost-plus segment in the market. The concepts such as 24-hour service and franchising of high street brands are augmenting the demand for nil subsidy contracts in the US market.

US CONTRACT CATERING MARKET – BY DELIVERY

Need for cohesive delivery of services to drive the demand for IFM deliveries in the US contract catering market

The US contract catering market by delivery is categorized into IFM and single service. IFM delivery segment dominated the majority market share in 2017, growing at a CAGR of more than 4% during the forecast period. The growing demand for the strategic support that takes the responsibility of providing a cohesive delivery of services, managing operations, and administration is contributing to the growth of this segment in the market. IFM allows for sustained price reductions, and the possibilities of achieving more with less through a streamlined approach are thus gaining awareness and recognition. The evolution of new network delivery models and the demand for smoother transitions between services will boost the demand for IFM deliveries in the US market. The growing need for resources and personalized services from mid-sized companies will propel the growth of this segment in the US market.

US CONTRACT CATERING MARKET – BY FACILITY

Self-service on-premise foodservices to lead the revolution in the US contract catering market during the forecast period

The facility segment in the US contract catering market is divided into on-premise and on and off-premise. The on-premise segment occupied more than half of the market share in 2017, growing at a CAGR of around 4% during the forecast period. The growing demand for variety, self-service options, the addition of new branded concepts, and multiple facilities are some of the primary factors attributing to the growth of this segment in the US market. The evolution of technology is facilitating the development of multi-functional appliances, internet and WiFi-enabled equipment and mobile technology, self-diagnostics, and performance tracking software, thereby, boosting the revenues of the on-premise facilities in the US market. The demand for a more flexible dining and diverse fare, new formats, chef-led events, and customize foodservice to engage consumers will drive the development of the on and off-premise facility in the US market.

The US contact catering market research report includes in-depth coverage of the industry analysis with revenue and forecast insights for the following segments:

Industry

  • B&I
  • Education
  • Healthcare
  • Sports & Leisure
  • Senior Care
  • Others

Contract Type

  • Fixed Price
  • Cost-Plus
  • Other

Delivery

  • IFM
  • Single Service

Facility

  • On-Premise
  • On and Off-Premise



Frequently Asked Questions

The US contract catering market size is expected to reach values of around USD 63 billion by 2023, growing at a CAGR of more than 4% during the forecast period.
The drastic changes in which companies and institutions alike are looking for initiatives that enable them to focus their energy and resources on their core capabilities and goals are augmenting the growth of US contract catering market.
The key players are Compass Group, Sodexo, Aramark Services, Delaware North, and Elior Group
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