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Catering Service Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)

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The catering service category is expected to grow at a CAGR of 5.8% from 2023 to 2030. The necessity to consume food, ideally nutritious food, at the workplace and increased demand from social & wedding events are the main factors driving this category. In the corporate world, having a reputable catering service is essential to attract new hires by giving them a high-end experience in hospitality whereas, during a business event, the corporate catering service providers & professionals assist in building the company's reputation among clients.

The global catering service category size was valued at USD 110.0 billion in 2022. One of the main factors driving the market growth is the increasing demand for convenience. Many consumers are looking for services that offer easy ordering and delivery options, as well as menu options that can be customized to meet their specific needs. Due to the region's growing population and growing demand for industrial players in the organized sector, catering services are in high demand throughout the Asia Pacific.

The rise of the catering sector is mostly driven by the rising popularity of internet catering. New habits are becoming reinforced and the taste for foreign meals is rising as the urban population grows. The worldwide fast-food sector is expanding as a result of a variety of causes, including changing food preferences, and an increase in the number of nuclear families. Consumers all around the world are experimenting with various cuisines as a result of exposure to other cultures and lifestyles, which is also opening up new growth potential for the global fast-food business.

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