Global Catering Services Market to Reach $614.47 Billion by 2023, Says Beroe Inc

https://www.beroeinc.com/category-intelligence/catering-services-market/ https://www.beroeinc.com/category-intelligence/catering-services-market/ The overall value of the global food service industry is expected to reach approximately$616.24 billionin 2023, growing at a CAGR of 4.5 percent. At a global level, the high maturity regions are the U.S., the U.K.,France,Italy, and the U.A.E. and medium maturity markets areSaudi Arabia,Turkey, andCanada. Other thanWestern...

https://www.beroeinc.com/category-intelligence/catering-services-market/

The overall value of the global food service industry is expected to reach approximately $616.24 billion in 2023, growing at a CAGR of 4.5 percent. At a global level, the high maturity regions are the U.S., the U.K., France, Italy, and the U.A.E. and medium maturity markets are Saudi Arabia, Turkey, and Canada. Other than Western Europe and a few other countries, markets for catering services as a standalone, specialized function remain underdeveloped.

Beroe, which is based in North Carolina, further stated that procurement experts can access this report - on its recently launched market intelligence platform Beroe LiVE: https://live.beroeinc.com/

In the fastest growing regions of the catering services market, such as APAC developing countries, there is a highly fragmented market, with very high demand from buyers for organized catering. Meanwhile, political and economic unrest in Europe due to Brexit and other factors are expected to slow down the growth of the catering services market in Europe. Growing demand among corporate buyers for fresh and healthy food is driving the demand for the catering services market to reduce dependency on frozen and pre-prepared food.

Top trends in the global catering services market include employee fine dining, technology adoption, local foods, sustainability initiatives, cashless payments, and subsidies. Automation and other catering unmanned solutions are gaining popularity. Food delivery apps, food ordering, and staff restaurants are also influencing the best practices in the catering industry.

Key Findings:

The research methodology adopted for the report included:

The global food service equipment market was valued at $36,380 million in 2018 and is expected to be worth $47686.7 million by the year 2022 growing at a CAGR of 7 percent. The development of advanced automated kitchen equipment capable of saving valuable space and money by improving efficiency is expected to keep driving the market especially in the mature markets.

The report includes:

Market Analysis:

Supply Analysis:

Cost and Pricing Analysis:

Procurement Best Practices:

About Beroe Inc.:

Beroe is the world's leading provider of procurement intelligence and supplier compliance solutions. We provide critical market information and analysis that enables companies to make smart sourcing decisions—leading to lower costs, greater profits and reduced risk. Beroe has been providing these services for more than 13 years and currently works with more than 10,000 companies worldwide, including 400 of the Fortune 500 companies.

To learn more about Beroe Inc., please visit: http://www.beroeinc.com

Media Contact:
Debobrata Hembram
[email protected]

Logo: https://mma.prnewswire.com/media/777512/Beroe_Logo.jpg