North America Catering Market – Latest Demand, Trend and Global Industry Growth Analysis & 2018-2025 Forecasts Research Report
Feb 6, 2019
AdroitMarketResearch has published “North America Catering Market 2019 – Key Trends and Development, Regional Analysis, and 2025 Outlook” to its database
Dallas, Texas - February 6, 2019 /MarketersMedia/ —
A publication on the “North America Catering Market Size 2017 by Type (In House/ On Premise, Outsourced/Off Premise), by Event Type (Social Events, Corporate Events), by Industry [Business and Industry (B&I), Education, Healthcare, Leisure, Others], by Country (U.S., Canada), Trend and Forecast, 2018 to 2025” was published by Adroit Market Research.
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The North America catering market is projected to be valued at USD 89.60 billion by 2025 assisted by the rising number of corporate events in the U.S. and the subsequent growth of the business to business (B2B) event industry market. In 2017, the global B2B event industry market revenue stood at USD 30.3 billion and the U.S. constituted for 43.6% of the total revenue. The frequent and large volume of meetings and other corporate events in the U.S. have contributed excessively to the rapid growth of the catering industry. Thus, the US catering market size is likely to grow at a CAGR of 3.1% over the forecast period.
Catering services have become a significant factor in carrying out any event successfully. Corporate and social events such as official lunches, team building events, parties & events, and festive functions have their specific food and beverage requirements. Along with this, catering requirements for facilities such as schools, colleges, universities, hospitals as well for corporate and industrial offices provide lucrative opportunities for off-premise contract caterers.
Third Party Food Delivery Companies listed in the report:
• ezCater, Inc.
• Caviar
• GrubHub
• DoorDash
• Clorder
The North America catering market is characterized by the presence of contract caterers as well as restaurants that venture into catering to target a wider range of consumers. Restaurants who have already invested in equipment are focussing on increasing their return on investment by venturing into catering services. This expansion of their business channels creating increased revenue for these restaurants has positively impacted the market. The prevalent trait of having social gatherings such as destination weddings and other outdoor events is one the key North America catering market trend driving its growth. of is gathering momentum in North America. This has accelerated the growth of the North America off-premise catering market.
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Business & Industry (B&I) generated the highest revenue accounting for over 19% of the North America catering market share in 2017. The U.S. has the highest number of corporate offices and industries, globally. The offices and industrial units provide their employees and workers food to ensure enhanced employee welfare. This has facilitated the demand for catering operators in this region.
The integration with third-party food delivery companies has been one of the major North America catering market trends. These companies have increased the consumer base due to the enhanced accessibility options offered by them. The food delivery companies have developed user-friendly apps and websites that allow users to view, customize and order their food. Thus, the collaboration of catering companies with the food delivery companies has enabled the catering industry to gather momentum.
The U.S. dominated the market in this region with a presence of around 12,600 caterers in 2016. The US catering market size was the largest due to the high demand from educational and corporate sectors. The revenue from the education sector which includes high schools, colleges and universities contributed the highest share in the U.S. with over 4% share in 2017. The increasing demand for catering services in corporate offices and factories is expected to render the B&I segment as the fastest growing sector.
The Canada catering market had witnessed a slowdown due to the decreasing consumer spending over the past few years. However, the increasing per capita disposable income along with the positive growth in real estate sector is expected to increase the demand for social caterers over the next few years. This is in turn expected to accelerate Canada catering market growth during the forecast period.
The competitive landscape of the North America catering market is fragmented in nature, with the presence of a large number of players. These companies include Abigail Kirsch, Aramark, Blue Plate Catering, LTD., Compass Group PLC, Elior Group, Sodexo, Windows Catering, Feastivities, Great Performance, and Panera Bread among others. The emergence of third-party food delivery companies has tremendously impacted the customer-reach of the catering companies. These third-party food delivery companies include ezCater, Inc., Caviar, GrubHub, DoorDash, and Clorder among others.
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Some points from North America catering market Table of Contents:
1. Executive Summary
2. Research Methodology
• Research approach
• Scope, definition, and assumptions
• Data sources
3. Market Outlook
• Introduction
• Key trends
• Market drivers
• Market restraints
• Market opportunities
• PEST Analysis
4. Catering Market Overview, By Type
• North America catering market share, by type, 2018 & 2025
• In House/ On Premise
• Market size and projections, 2014-2025
• Outsourced/Off Premise
• Market size and projections, 2014-2025
5. Catering Market Overview, By Event Type
• North America catering market share, by event type, 2017 & 2025
• Corporate Events
• Market size and projections, 2014 – 2025
• Social Events
• Market size and projections, 2014 – 2025
Continued….
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About US:
Adroit Market Research is an India-based business analytics and consulting company incorporated in 2018. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require understanding of a market’s size, key trends, participants and future outlook of an industry. We intend to become our clients’ knowledge partner and provide them with valuable market insights to help create opportunities that increase their revenues. We follow a code– Explore, Learn and Transform. At our core, we are curious people who love to identify and understand industry patterns, create an insightful study around our findings and churn out money-making roadmaps.
Contact Info:
Name: Ryan Johnson
Organization: Adroit Market Research
Address: 3131 McKinney Ave Ste 600 Dallas, TX 75204
Phone: +1 (214) 884-6068
Website: https://www.adroitmarketresearch.com/industry-reports/north-america-catering-market
Source: MarketersMedia
Release ID: 479682
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