What is Refreshment Catering Market?
The global refreshment catering market is expected to grow at a significant rate during the forecast period, according to the AMA study. The growing demand from the commercial sector in order to provide value-added services in the packages of the employees in order to collect top talents from the market and the growing number of corporate and wedding events are some of the major factors aiding into the growth for the market globally.
Highlights from Refreshment Catering Market Study
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
Key Companies Profiled | ZeroCater, Inc. (United States), The Gateway Centre (England), First Choice Catering (United States), K G Catering Pte Ltd. (Singapore), D'Fine Catering Services (Singapore), NCVO (The National Council for Voluntary Organisations) (England), Mykopitiam Management Sdn. Bhb. (Malaysia), Orange Clove Catering (Singapore), Continental Serves (United States) and Twincity (Canada) |
The companies in this market are majorly focusing on the expansion of their business to remain competitive in the highly fragmented market. For instance, in March 2019, ZeroCater announced its expansion into enterprise catering. Research Analyst at AMA predicts that United States, Singapore Vendors will contribute to the maximum growth of Global Refreshment Catering market throughout the forecasted period.
ZeroCater, Inc. (United States), The Gateway Centre (England), First Choice Catering (United States), K G Catering Pte Ltd. (Singapore), D'Fine Catering Services (Singapore), NCVO (The National Council for Voluntary Organisations) (England), Mykopitiam Management Sdn. Bhb. (Malaysia), Orange Clove Catering (Singapore), Continental Serves (United States) and Twincity (Canada) are some of the key players profiled in the study. Refreshment Catering Market Segmentation:
Scope | Sub-Segments |
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Application / End User | Corporate, Wedding, Social Event, Education, Healthcare and Others |
Type | Snacks, Breakfast, Beverages, Deserts and Others |
End Users | Private,Commercial,Government |
On the basis of geography, the market of Refreshment Catering has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Growing Demand from Commercial Sector Propelled by Growing Adoption of Refreshment Catering Services to Provide a Healthy Services to Employees
- Growing Number of Corporate and Wedding Events Fuelling the Growth for Refreshment Catering Market
Market Trend
- Growing Demand for Fast Food Cuisine Items in Corporate Sector
- Corporate Companies are Expanding In Order to Provide Better Employee Benefit Packages in Order to Compete for Top Talent
Opportunities
- Opportunities to Diversify into Emerging Economic and High Population Countries Such as India, China, and Japan
Challenges
- The Rising Taxation Rates for Outdoor Catering Provided to Offices and Industrial Canteens across Different Huge Market Countries Such as India
Market Leaders & Development Strategies
In March 2019, Continental Services a US-based food management company announced that it has completed the acquisition of foodservice company Sterling Services for an undisclosed financial value which is part of the company’s long-term growth and expansion objectives.
In May 2018, ZeroCater a leading provider of office catering and snacks announced that it has raised USD 12 million in series B funding led by Cleveland Avenue LLC which will help the company to expand its snacks and catering to new markets.
Analyst Comment
The global market for refreshment catering is majorly fuelled by demand from rise in number of events such as corporate and wedding events. Moreover, the companies in this market are trying to include maximum services for their customers in order to provide full-length catering & refreshment services to remain competitive in the market. For instance, in October 2018, ZeroCater announced that it has included alcohol such as beer, wine, and Spirits to its suite of food services.
Key Target Audience
Catering Service Providers, Food Service Providers, New Entrants/Investors, Analysts and Strategic Business Planners and Providers, Venture Capitalists and Private Equity Firms and Government Regulatory and Research Organizations