Latest News- Catering Services Market: Contract catering services is expected to lead the Service segment during 2025-2029

The Catering Services Market is being driven by Increasing popularity of online catering

The Catering Services Market is expected to grow at a CAGR of 3.7% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 73.2 billion. Catering service vendors in the global market are implementing integrated marketing communication strategies to promote their offerings. Newspapers, magazines, and social media platforms, including YouTube and Facebook, are utilized extensively. X, for instance, allows vendors to announce upcoming locations and events, offering valuable information to the audience and enabling real-time customer interaction. Facebook and Instagram, with their vast and diverse user bases, are essential tools for caterers to expand their reach and engage potential clients professionally. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Service
  • Contract catering services
  • Concession catering services
• Application
  • Wedding catering
  • Corporate catering
  • Social event catering
  • Others
• Geography
  • APAC
    • China
    • India
    • Japan
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
  • Middle East and Africa
  • South America
    • Brazil

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing popularity of online catering
• Introduction of new food menus
• Increasing promotional initiatives

However, the market also witnesses some limitations, which are as follows:

• Fluctuations in food commodity prices
• Growing preference for home-cooked foods
• Rising risks with suppliers

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Market Scope in Catering Services Market Research Report

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Research Analysis Overview

Catering services play a significant role in conventions, celebrations, and various events, providing hot food options for establishments such as institutions, universities, and commercial entities. In-house chefs can be outsourced to third-party businesses for team-building activities and special occasions. Third-party catering packages offer food safety, cooking, presentation, and serving expertise. Corporate gatherings benefit from specialized catering services, delivering memorable dining experiences with diverse cuisine options, customized menus, convenience, and flexibility, catering to changing lifestyles.

Market Research Overview

The global market for hotels, resorts, and cruise lines encompasses corporations involved in the operation of lodging establishments, resorts, and maritime vessels. According to Technavio's industry analysis, the market size is determined by the consolidated revenue generated by entities in the sectors of casinos and gaming, hotels, resorts and cruise lines, leisure facilities, and restaurants. Factors driving growth in this market include the expanding travel and tourism industry, with annual increases in international and domestic travelers from developing and developed nations.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/