According to the research report titled ‘Global Contract Catering Market (2021 Edition) - Analysis By Modes of Contract (Self-Operated, Outsourced), End User, By Region, By Country: Market Insights and Forecast with Impact of COVID-19 (2021-2026)‘, available with Market Study Report LLC, global contract catering market was valued at USD 250.32 billion in 2020 and is slated to record significant growth over 2021-2026.

As per findings of the report, factors such as presence of huge consumer base in developing nations like India and China, rapid urbanization, and decreasing unemployment rates are augmenting global contract catering market growth. Moreover, rising middle class population is also catalyzing the market development.

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In terms of modes of contract, the industry sphere is bifurcated into outsourced and self-operated. The outsourced segment is showcasing remunerative trends, as outsourcing services helps a company to focus on their core business by entrusting nutritional requirements of staff to a specialist. Also, increasing offerings of live food counters, exotic ingredients, premium table services, and aesthetic delicacies by several caterers are enhancing the overall industry growth.
 

With respect to the end-user terrain, the market scenario is classified into sports & leisure, healthcare & senior, defense, education, business & industry, and offshore & remote. Among them, the business & industry segment is expected to be growing momentously over the analysis period, owing to robust progress in the consumer goods sector and retail sector in rapidly developing economies like China & India.
 

As per expert verbatim, key regional contributors to global contract catering industry are North America, Europe, Asia Pacific, Latin America and Middle East & Africa. Among these, Asia Pacific market is poised to expand significantly over the stipulated duration, attributable to increasing consumer spending and accelerated urbanization in developing countries such as India, Japan and China.
 

Speaking of the competitive landscape, increasing number of M&A activities, geographic expansions, and service diversifications is anticipated to intensity competition in this vertical. The top companies are focusing on offering integrated facility service solutions to amplify their customer base and maximize profits.
 

Mitie Group PLC, Caterleisure Group, Camst Group, Baxterstorey, CH&CO, Amadeus IT Group, S.A., Elior Group, Compass Group plc, Aramark Corporation, and Sodexo are the major players influencing global contract catering industry trends.