The Sustainable Catering Services Market Size was valued at USD 141.5 Bn in 2023 and is predicted to reach USD 213.6 Bn by 2031 at a 5.4% CAGR during the forecast period for 2024-2031.
Sustainable catering services prioritize eliminating unused food and reducing greenhouse gas emissions while utilizing natural locally. Both businesses and consumers are looking increasingly for environmentally friendly catering options for activities like intimate gatherings and business conferences to meet their sustainability targets. Technological innovations, such as wasted food monitoring devices and environmentally acceptable packaging options, are expanding the potential for ecologically conscious catering services and making them more effective and environmentally beneficial. The necessity to comply with ecological laws and an increasing need for accessible distribution networks are the main factors driving market expansion.
However, the sustainable catering services industry is impeded by the expansive prices. It can be expensive to establish ecological catering methods because they call for expenditures on garbage disposal systems, nutritious food, and environmentally friendly containers. Because ethical supply chains are complicated, it may prove difficult to guarantee an ongoing source of environmentally responsible components, particularly for large-scale activities. Monitoring food deterioration, controlling distribution networks, and ensuring environmental acceptability requires complex technological integration, which comes with a high cost and skill requirement. The COVID-19 pandemic significantly impacted the tourism sector. Undoubtedly, economic activity will rebound, consumer demand will still be insufficient, and inventory chain disruptions will still be intolerable. The marketplace will bounce back soon, although consumer expenditure will only increase slightly. The manufacturing chain will likewise keep experiencing delays: strong consumer demand, a quick economic recovery, and resolved supply chain issues.
Competitive Landscape
Some of the Major Key Players in the Sustainable Catering Services Market are
- Sodexo
- Compass Group
- Aramark Corporation
- Elior Group
- ISS World
- Delaware North
- Thomas Franks Ltd
- Gategroup Holding AG
- Mitie Group PLC
- ABM Industries Inc.
- BaxterStorey
- Nexdine
- Eco Caters
- The Red Radish
- Feast It
- Others
Market Segmentation:
The sustainable catering services market is segmented based on service type and end-user. Based on service type, the market is segmented into contractual catering services and non-contractual catering services. End-users segment the market into individuals, hospitality, educational, healthcare, in-flight, and other end users.
Based on the Service Type, the Contractual Catering Services Segment is Accounted as a Major Contributor to the Sustainable Catering Services Market
The contractual catering services sustainable catering services market is expected to hold a significant global market share in 2023. Contractual catering focuses mainly on commitments or contracts. Getting contracts with lengthy terms allows catering businesses to generate consistent, stable earnings. The ability to create food options, organize workers more effectively, and optimize processes can lead to increased revenue. Companies can establish a lasting relationship with their customers through contractual catering to gain repeat business. Additionally, it makes it possible for customers to receive personalized services from caterers, which is anticipated to boost the market for catering services.
In-Flight Segment to Witness Growth at a Rapid Rate
The in-flight industry makes up the most sustainable catering services because in-flight food services intend to make travelling more enjoyable for customers. Foods specially made to be consumed in an airplane environment must be prepared, packaged, and delivered, especially in countries like the US, Germany, the UK, China, and India.
In the Region, the North American Sustainable Catering Services Market Holds a Significant Revenue Share
The North American sustainable catering services market is expected to register the highest market share in revenue in the near future. It can be attributed to the region's significant focus on social obligation. Due in large part to the comparatively high levels of financial freedom among its citizens, North Americans have been spending more on catering and other activities. In addition, Asia Pacific is projected to grow rapidly in the global sustainable catering services market due to a number of factors, including an increase in overseas tourist destinations, rapid development, growing economic conditions that support desirable journeys, and a return to flexible expenditure. Due to the increasing number of airways in this area, there will also be significant growth possibilities for during-flight catering companies.
Recent Developments:
- In April 2024, Compass Group UK & Ireland, the leading catering and nutritional activities business in the UK, introduced a new collection of maternal jackets, an industry-first consistent that is specifically designed to encourage and accommodate female coworkers during and after maternity.
- In June 2024, Aramark (NYSE: ARMK), an internationally recognized supplier of nutritional products and infrastructure services with activities in the manufacturing and businesses medical, educational, athletics, entertainment, and modifications sectors, is collaborating with Pringle Robotics, a company that develops independent automated systems for building administration, to deploy functioning software programs and floor cleaning machines at essential consumer resources.
Sustainable Catering Services Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2023 |
USD 141.5 Bn |
|
Revenue Forecast In 2031 |
USD 213.6 Bn |
|
Growth Rate CAGR |
CAGR of 5.4% from 2024 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Bn and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
|
Forecast Year |
2024-2031 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments Covered |
By Service Type, and End User |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; South East Asia; South Korea |
|
Competitive Landscape |
Sodexo, Compass Group, Aramark Corporation, Elior Group, ISS World, Delaware North, Thomas Franks Ltd, Gategroup Holding AG, Mitie Group PLC, ABM Industries Inc., BaxterStorey, Nexdine, Eco Caters, The Red Radish, Feast It, and Others. |
|
Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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