Dublin, Dec. 19, 2018 (GLOBE NEWSWIRE) -- The "Contract Catering Market in US - Industry Outlook and Forecast 2018-2023" report has been added to ResearchAndMarkets.com's offering.

The US contract catering market is estimated to reach values of approximately $63 billion by 2023, growing at a CAGR of more than 4% during 2017-2023.

The focus on innovation and new approaches will help contract caterers attract a large number of consumers in the US market. Companies are offering a complete dining experience with fresh, customized meals in the morning and afternoon to meet dynamic consumer requirements in the market.

The US contract catering market is driven by the demand for round-the-clock access to high-quality food on a work day. The emergence of sophisticated palates and desire for variety is fueling the need to offer multiple dining options in the US market. The market research report provides in-depth market analysis and segmental analysis of the US contract catering market by industry, contract type, delivery, and facility.

The report considers the present scenario of the US contract catering market and its market dynamics for the period 2018-2023. It covers a detailed overview of various market growth enablers, restraints, and trends. The study covers both the demand and supply sides of the market. It also profiles and analyzes the leading companies and several other prominent companies operating in the market.

Contract Catering Market in US - Dynamics

The recent trend to bring down costs, reduce headcount, and improve efficiency is driving the need for outsourcing in the contract catering market in US. The emergence of a new age outsourcing facilities that help to enhance the quality of catering to the needs and demands of their staff via expert knowledge is expected to transform the market. From outdoor grills to destination dining spaces to special food-related events, a host of renditions of foodservice deliveries that provide eatertainment as opposed to just a snack bar or food kiosk are becoming part of the appeal of the services offered by these companies.

The vendors are creating a unique gastronomical experience to enhance the customer satisfaction levels in the contract catering market in US. The leading companies are implementing 4G, RFID, mobile apps, and smartphones through digital technology and changing the way food are presented and delivered in the contract catering market in US. The leading companies are leveraging technology to provide more information, customized orders, and shorter waiting times in the US market.

Contract Catering Market in US - Segmentation

This market research report includes a detailed segmentation of the market by industry, contract type, delivery, and facility. The sports and leisure segment dominated less than 1/3rd of the market share in 2017, growing at a CAGR of more than 4% during the forecast period.Sports stadiums and venues are the largest revenue generators in this segment in the US market. The incorporation of seasonal and local food, sourcing more fair trade, organic, and sustainable vegetarian meals in the healthcare sector will transform the market.

On and off-premise segment dominated close to half of the market share in 2017, growing at a CAGR of around 4% during the forecast period. The growing need to reduce overhead costs and increase flexibility is driving the popularity of on and off-premise facilities in the US market. The fixed-price segment occupied majority of the market share in 2017, growing at a CAGR of around 4% during the forecast period. Single service segment occupied the second largest market share in 2017, growing at a CAGR of more than 3% during the forecast period. The growing demand for personalized flexibility and expertise services contributes to the growing revenues in this segment in the US market.

Key Topics Covered:

1 Research Methodology

2 Research Objectives

3 Research Process

4 Report Coverage
4.1 Market Definition
4.2 Base Year
4.3 Scope of Study
4.3.1 Market Segmentation by Contract Type
4.3.2 Market Segmentation by Industry
4.3.3 Market Segmentation by Delivery
4.3.4 Market Segmentation by Facility

5 Report Assumptions and Caveats
5.1 Key Caveats
5.2 Inclusions
5.3 Exclusions
5.4 Currency Conversion
5.5 Market Derivation

6 Market at a Glance
7 Introduction
7.1 Overview
7.2 State of the US Economy
7.3 State of the US Healthcare

8 Overview of FM Industry
8.1 Market Drivers in FM Industry
8.1.1 Regulatory and economic developments
8.1.2 Increasing involvement of enterprises in national and international contract procurement
8.1.3 Value-added services gain prominence
8.2 Trends affecting the FM Industry
8.2.1 Multi-generational workplace
8.2.2 Evolution of new workspaces and styles
8.2.3 Smart buildings and AI
8.2.4 Harnessing strategic insights to fuel decision-making
8.2.5 Robots and AI as a future workforce supplement
8.3 Foodservice Industry Outlook
8.3.1 Catering Service Types
8.3.2 Strategies for staying competitive
8.4 The Customer Paradigm
8.4.1 Generation Z
8.4.2 Millennials
8.4.3 Baby Boomers
8.5 On the Menu

9 Market Dynamics
9.1 Market Growth Enablers
9.1.1 Growing popularity of FoodXWellbeing movement
9.1.2 Ongoing productivity and retention puzzle
9.1.3 Emergence of a new age of outsourcing facilities
9.1.4 Rise of Eatertainment
9.1.5 YOY Impact of Market Growth Enablers
9.2 Market Growth Restraints
9.2.1 Preference for street food and grab n' go outlets
9.2.2 Inconsistent food quality and hygiene management
9.2.3 Race for space
9.2.4 Recruitment crisis
9.2.5 Prevalence of lunch shaming
9.2.6 YOY Impact of Market Growth Restraints
9.3 Market Opportunities and Trends
9.3.1 Waste not, want not
9.3.2 Enhancing customer journeys
9.3.3 Rise of fresh food subscriptions
9.3.4 Growing momentum of sustainable eating
9.3.5 Emergence of free-from menus
9.3.6 YOY Impact of Market Opportunities and Trends

10 Contract Catering Market in North America
10.1 Market Size & Forecast

11 Contract Catering Market in US
11.1 Market Size & Forecast
11.1.1 Market Overview
11.2 Porter's Five Forces Analysis

12 Contract Catering Market in US By Industry Served
12.1 Market Overview
12.2 Contract Catering Market in US by B&I Industry
12.3 Contract Catering Market in US by Education Industry
12.4 Contract Catering Market in US by Healthcare Industry
12.5 Contract Catering Market in US BY Senior Care Industry
12.6 Contract Catering Market in US by Sports & Leisure Industry
12.7 Contract Catering Market in US by Defense, Offshore & Remote industry

13 Contract Catering Market in US By Contract Type
13.1 Market Overview
13.1.1 Fixed Price Contracts
13.1.2 Cost-plus contracts
13.1.3 Others
13.2 Fixed Price Contracts
13.3 Cost-plus contracts
13.4 Other Contracts

14 Contract Catering Market in US By Delivery
14.1 Market Overview
14.2 IFM contracts
14.2.1 Market Size & Forecast
14.3 Single Service contracts
14.3.1 Market Size & Forecast

15 Contract Catering Market in US By Facility
15.1 Market Overview
15.2 On-premise facilities
15.2.1 Market Size & Forecast
15.3 On and off-premise facilities
15.3.1 Market Size & Forecast

16 Competitive Landscape
16.1 Market Overview

17 Market Vendor Analysis
17.1 Market Ranking Analysis

18 Key Company Profiles
18.1 Compass Group
18.2 Sodexo
18.3 Aramark
18.4 Delaware North
18.5 Elior Group

19 Other Prominent Vendors
19.1 American Dining Creations
19.2 Atalian Servest
19.3 CIR food
19.4 Continental
19.5 Gourmet Services
19.6 Guest Services
19.7 ISS World Services
19.8 Nexdine
19.9 Parkhurst dining solutions
19.10 Quest Food MAnagement SERVICES
19.11 Taher
19.12 Thompson Hospitality
19.13 The Nutrition Group
19.14 Whitsons Culinary Group

For more information about this report visit https://www.researchandmarkets.com/research/rlck6w/united_states_63?w=12

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Related Topics: Catering