Catering Service Procurement Strategies

The catering service category is expected to grow at a CAGR of 5.8% from 2023 to 2030.

Catering Services Category – Procurement Intelligence

The catering service category is expected to grow at a CAGR of 5.8% from 2023 to 2030. The rise of the catering sector is mostly driven by the rising popularity of online catering. New habits are becoming ingrained 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 reasons, including changing food preferences, the rise of online ordering and delivery, 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.

Technologies such as food tracking & traceability and smart appliances are used by the companies. Ann Sather uses food tracking and traceability to ensure the safety and qualityof their food and to track the food from the farm to the table, which can prevent foodborne illness. Aramark use smart appliances which helps them to save time and energy as those appliances can be programmed to cook food automatically, and they can also be monitored remotely.

Access the Catering Services Procurement Intelligence Report, 2023 – 2030, published by Grand View Research, to get more details regarding day one, quick wins, portfolio analysis, key negotiation strategies of key suppliers, and low-cost/best-cost sourcing analysis

This category is highly fragmented with a variety of large and small market players in the sector. To grow their presence and market share, these market players are launching new services and engaging in a number of merger and acquisition activities. There are many minor market participants with sizeable market shares, and it is projected that they will significantly contribute to market expansion during the evaluation year.

Businesses typically use a fixed pricing structure for menu options. For the food and service, there is a set price per participant. This straightforward pricing approach provides clear explanations of the components and associated fixed rates which are unaffected by size, scope, or preferences. This price structure is often used by both independently owned catering companies and restaurants with catering departments. This pricing strategy attracts clients as it is straightforward and sincere. Food and beverage costs make up the bulk of this category’s costs since businesses must buy the ingredients needed to cook food, and the price of those ingredients varies based on the required quality and quantity. Raw material accounts for 40% of the total cost. A catering service’s transportation costs may vary depending on a number of factors, including the distance to be traveled, the size of the event, the type of food being transported, and the time of day.

One of the biggest markets for this type of category is the U.S., where many companies provide services for weddings, business events, and other special occasions. Another significant competitor in this market is the United Kingdom, which has a long history of providing catering for upscale occasions like state banquets and royal weddings. With numerous Michelin-starred chefs, Germany and France are renowned for their excellent cuisine and catering services. This industry is also expanding in China, which is anticipated to have significant growth over the next few years due to shifting consumer preferences and rising income levels.

Catering Services Sourcing Intelligence Highlights

• There are many small and major businesses operating in various regions, which has led to a highly fragmented category for catering services globally. Players are in intense competition with one another as they try to increase their consumer base and provide better customer experiences.

• Raw material and transportation & rental costs account for the largest cost component of the catering service business

• Fluctuations in raw material prices such as vegetables are expected to impact the service prices.

• Most of the service providers offer complete services such as planning required for destination events, appropriate use & maintenance of equipment like utensils, and others.

Order your copy of the Catering Service Procurement Intelligence Report, 2023 – 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)

List of Key Suppliers in the Catering Services Category

• Ann Sather

• Aramark Corporation

• Aria catering

• AVI Food Systems

• Bartlett Mitchell

• Black Olive Catering

• Blue Plate

• CH and Co Catering Group

• Compass Group

• Delaware North Companies

Catering Service Procurement Intelligence Report Scope

• Catering Service Category Growth Rate: CAGR of 5.8% from 2023 to 2030
• Pricing Growth Outlook: 7% – 9% (Annual)

• Pricing Models: Fixed price pricing model

• Supplier Selection Scope: Cost and pricing, past engagements, productivity, geographical presence

• Supplier Selection Criteria: Quality, price, safety measures, cost and value, support and maintenance, regulatory compliance, flexibility, and others

• Report Coverage: Revenue forecast, supplier ranking, supplier positioning matrix, emerging technology, pricing models, cost structure, competitive landscape, growth factors, trends, engagement, and operating model

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