Growing importance of corporate cultures, social lifestyles, social events, and celebrations expected to drive India’s Catering Services Market: Ken Research
India’s Catering Services Market is at a growing stage and has a fragmented market with the domination of unorganized players. The Catering Service Market in India has seen the emergence of foreign players in the market being more organized. Sodexo India, Compass Group, and Gate Gourmet Limited are market leaders in India.
- Rising household is cretionary income is expected to encourage Indians to eat out, meaning consumers will enjoy meals prepared by caterers in airports, hospitals, and major sporting and cultural events.
- Suppliers are improving their supply capability while adopting performance-based metrics for evaluation and performance monitoring, thus, providing further impetus for industry growth.
- The organized sector is expected to gain a high market share during the forecast period due to rapid urbanization and expansion of organized and foreign players in the market.
Sustainable Innovation Design in Catering Service: There has been a change in the demand for catering services in recent years, supported by the quickly developing business-to-business (B2B) events sector and food and beverage services being offered at a growing number of corporate events. Furthermore, hotels and restaurants are expected to come up with innovative catering services, which are expected to fuel the catering service industry.
The market for catering services will expand: There is a colossal need for food catering services in India. Consumers in India are experimenting with different foods as a result of their exposure to other cultures and lifestyles, which is posing a potential opportunity for the international catering sector. India will see a surge in the popularity of mobile food service providers as on-the-go foods become more and more popular among its working population. All major construction firms, corporate offices, hospitals, the educational sector, etc. will benefit from on-site food. The market for catering services will expand in the future as more industries use food to draw in employees. In an effort to increase employee satisfaction and morale, businesses are increasingly offering cheap personalized menus and dining experiences to the workers. This, as a result, will give rise to many catering companies and boost the Indian catering services market.
Demand from high-income households and businesses: Major demand for the industry is expected to take a positive turn in the next five years after recessionary trends and low consumer sentiment temporarily stifled revenue. A rise in demand from high-income households and businesses will bolster growth, with consumers spending more money on parties and other catered functions again and corporate budgets loosened in line with stronger corporate profit. As a result of these trends, the number of businesses within the industry is also estimated to grow.
Greater Demand for Specialized Catering Services: Due to the increased emphasis on using technology to improve customer experience and reduce wait times for meals, the market for catering services in India is expected to grow. Specialized catering services are in greater demand throughout the nation as international firms are increasingly growing in the country. Additionally, catering companies are increasingly providing healthy eating alternatives including organic meals, a balanced vegan diet, and healthy snacks, especially in a vegetarian nation like India, as a result of the global trend of growing health consciousness which triggers the growth of the industry. The need for locally grown fresh farm food, including fruits, vegetables, and meat products, is supporting the market for catering services.
Analysts at Ken Research in their latest publication “India Catering Services Market Outlook To 2027F – By Event Catering, Industrial, Education, Flight, Healthcare, Corporate, and Other Catering” observed the potential of the Catering Services Market in India. The rising population, increasing need for industry players in the organized sector, increasing number of companies, growing emphasis on the adoption of technology to improve the customer experience, growing health consciousness, and increase in the growing penetration of mobile-based payment solutions is expected to contribute to the market growth over the forecast period. India’s Catering Services Market is expected to grow at ~% CAGR over the forecasted period 2022-2027F.
Key Segments Covered in the report:-
India Catering Service Market
By Type
Contract catering
Non-Contract catering
By Length of Contract
Short-Term
1 year
More than 1 year
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By End Users
Industrial
Government
In-Flight
Corporate
Education
Event
Healthcare
Others
Key Target Audience
Airline Catering Companies
Fine Dining Caterers
School Caterers
Hotels
Industrial Caterers
Government Bodies
Facility Management Companies
Industries
Schools
Hospitals
Time Period Captured in the Report:-
Historical Year: 2017-2022
Base Year: 2022
Forecast Period: 2022– 2027F
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Companies Covered:-
Sodexo
Compass India
Box8
Levy
HungerBox
LSG Sky Chefs
ABC Corp
Morrison Healthcare
Elior Group
Gate Gourmet
Chartwells Higher Education Dining Services
Canteen
Restaurant Associates
Cavier
Hot Dog on a Stick
Gulf Catering Co.
Key Topics Covered in the Report
Executive Summary of the Indian Catering Service Market
Indian Catering Service Market Introduction and Value Chain Analysis
Indian Catering Service Market Size, 2017-2022
Indian Catering Service Market Segmentation, 2022
Snapshot on Food & Beverage Industry
Best Selling MENUSs – End user segment-wise
Trends and Developments in Indian Catering Service Market
Issues and Challenges in Indian Catering Service Market
Porter’s Five Forces Analysis for Indian Catering Service Market
Regulatory Framework in Indian Catering Service Market
Comparative Landscape in the Indian Catering Service Market
Indian Catering Service Market Future Outlook and Projections, 2022-2027F
Analyst Recommendations
For more insights on the market intelligence, refer to below link:-
India Catering Services Market
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