The Caterers industry has cooked up a new recipe for growth in recent years. Industry revenue has increased as consumers and businesses have hiked up spending on industry services. Operators have introduced new menu items and are providing a wider range of services to satisfy increasing client requirements. Recent growth has been aided by recovery in consumer spending and corporate profit; therefore, households and businesses are expanding their budgets and hosting more catered events. Over the next five years, the Caterers industry is forecast to continue to improve as both consumer spending and corporate profit reach all-time highs. Industry operators will need to meet increasing client demands, such as floral arrangement and entertainment services, by developing relationships with providers or by bringing these additional services in-house to streamline the client experience.
This industry includes companies that provide individual event-based food services. These companies generally have equipment and vehicles to transport meals and snacks to events or prepare food off-site. Banquet halls with catering staff are included in this industry. Examples of events catered by establishments in this industry are graduation parties, wedding receptions, business luncheons and trade shows.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.