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Caterers in the US - Industry Market Research Report

Publisher IBISWorld
Published Aug 13, 2024
Length 86 Pages
SKU # IBSS19120623

Description

Caterers in the US - Industry Market Research Report


Caterers in the US

The Caterers industry contended with challenges stemming from soaring unemployment and has yet to recover from the adverse influences of the pandemic. Before the pandemic, higher downstream consumer spending and corporate profit translated to greater demand for business-to-consumer events. This increased demand was not intense enough to temper the adverse effects of declining marriage rates and decreases in per capita expenditure on alcohol, which hindered the industry. In response to these adversities, caterers have introduced new menu items and provided a more comprehensive range of services to satisfy a broader range of client interests. Amid health and safety restrictions like lockdowns and social distancing due to the pandemic in 2020, industry revenue cratered. As consumer spending and corporate profit have declined after the onset of the pandemic, demand for catering has fallen accordingly. Demand rebounded in 2021 as restrictions on large gatherings eased, but revenue has been unable to recover to pre-pandemic levels. Ultimately, catering revenue has declined at a CAGR of 6.7% to $10.8 billion, falling 2.6% in 2023 alone, as profit slips to 5.5%.

The Caterers industry includes companies that provide individual event-based food services. These companies generally have equipment and vehicles to prepare food off-site and transport it to events. Banquet halls with catering staff are included in this industry. Examples of events catered by industry establishments include 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.

Table of Contents

86 Pages
ABOUT THIS INDUSTRY

Industry Definition
Main Activities
Similar Industries
Additional Resources

INDUSTRY AT A GLANCE

INDUSTRY PERFORMANCE

Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle

PRODUCTS & MARKETS

Supply Chain
Products & Services
Demand Determinants
Major Markets
International Trade
Business Locations

COMPETITIVE LANDSCAPE

Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Industry Globalization

MAJOR COMPANIES

OPERATING CONDITIONS

Capital Intensity
Technology & Systems
Revenue Volatility
Regulation & Policy
Industry Assistance

KEY STATISTICS

Industry Data
Annual Change
Key Ratios

JARGON & GLOSSARY

Pricing

Currency Rates
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