Food & Beverages

USD 40 Billion growth expected in Catering Market| With an Accelerating CAGR of 4% amid COVID-19 Spread| SpendEdge

USD 40 Billion growth expected in Catering Market| With an Accelerating CAGR of 4% amid COVID-19 Spread| SpendEdge

The Global Catering has been added to SpendEdge’s offering. The Catering market is expected to grow by USD 40 billion, at a CAGR of over 4% by 2024.

End-user sectors such as the hospitality and the healthcare industries in some regions will create opportunities for catering service providers mainly because of the lower penetration of organized catering services. This will contribute to spend growth in the global catering industry.

The report also offers information on the upcoming trends and challenges that will influence market growth.

  • Labor costs are expected to increase year-over-year globally during the forecast period, ultimately impacting the costs of services in the catering industry.
  • However, the competitive nature within the catering industry will compel suppliers to bear some of their production costs even at the expense of their profit margin. This will help stabilize the price hike.
  • Supplier relationship management practices in the catering industry
  • Supplier margins and selection criteria in the catering industry
  • Top catering service providers and their cost structures
  • Top catering service providers in the US and their cost structures
  • Catering industry spend analysis in the US

Some of the top Catering suppliers listed in this report:

This Catering procurement intelligence report has enlisted the top suppliers and their cost structures, SLA terms, best selection criteria, and negotiation strategies.

  • ISS AS
  • US Foods Inc.
  • Sodexo Group
  • Compass Group Plc
  • Aramark
  • Performance Food Group Co.

 Regional Analysis 

  •  Further breakdown of the market segmentation at requested regions.

Market Player Information 

  • Detailed analysis

    and profiling of additional market players, vendor segmentation, and vendor offerings.

  • Know the strategies adopted by vendors during the COVID-19 Recovery Phase.

Related Reports on Facility Management Market:

  • Commercial Laundry Machinery – Sourcing and Procurement Market Intelligence Report: Leading global suppliers can assist buyers in realizing high-cost savings through their efforts on areas such as backward integration, supplier synergies, reducing total ownership cost, conference participation, managing commodity price volatility, negotiate on pricing and contractual terms, ad-hoc spend management, operations automation, and cost of quality impact.
  • Intelligent Evacuation System – Sourcing and Procurement Market Intelligence Report: This report evaluates suppliers based on experience, width of product portfolio, flexibility, and ability to provide excellent maintenance and support. In addition, suppliers are also shortlisted based on business needs, technical specifications, operational requirements, security compliance, and more.
  • Kitchen Equipment – Sourcing and Procurement Intelligence Report: The kitchen equipment will grow at a CAGR of 4.72% during 2020-2024. Prices will increase by 2.5%-4% during the forecast period and suppliers will have a moderate bargaining power in this market.

To access the definite purchasing guide on the Catering that answers all your key questions on price trends and analysis:

  • Am I paying/getting the right prices? Is my Catering TCO (total cost of ownership) favorable?
  • How is the price forecast expected to change? What is driving the current and future price changes?
  • Which pricing models offer the most rewarding opportunities?

Table of Content

  • Executive Summary
  • Market Insights
  • Category Pricing Insights
  • Cost-saving Opportunities
  • Best Practices
  • Category Ecosystem
  • Category Management Strategy
  • Category Management Enablers
  • Suppliers Selection
  • Suppliers under Coverage
  • US Market Insights
  • Category scope
  • Appendix

About SpendEdge:

SpendEdge shares your passion for driving sourcing and procurement excellence. We are the preferred procurement market intelligence partner for 120+ Fortune 500 firms and other leading companies across numerous industries. Our strength lies in delivering robust, real-time procurement market intelligence reports and solutions.

Disclaimer: The following Press Release comes to you under a network of a strategic syndication partnership with .Prittle Prattle News  takes no editorial responsibility for the same.

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