Catering Service Procurement Intelligence Is Expected To Expand At A CAGR Of 5.8% From 2023 to 2030

Comments · 33 Views

The catering service category is expected to grow at a CAGR of 5.8% from 2023 to 2030.

Catering Service Procurement Intelligence

In this catering service procurement intelligence report, we have estimated the pricing of the key cost components. Raw materials, transportation costs, and rental cost form the largest cost component of catering service implementation. Raw materials account for 40% of the total cost. The cost also depends on the location, personnel cost, and pricing strategy. The cost of food is one of the most significant costs for catering companies. It can vary depending on the type of food being served, the quality of the food, and the location of the event. Another important cost for catering businesses is personnel cost as it accounts for 8-10% of the total cost which includes chefs, serving staff, supervisors, and other. Several variables, such as the distance to be traveled, the scale of the event, the kind of food being transported, and the time of day, can affect a catering service's cost of transportation.

Order your copy of the Catering Service category procurement intelligence report 2023-2030, published by Grand View Research, to get more details regarding day one, quick wins, portfolio analysis, key negotiation strategies of key suppliers, and low-cost/best-cost sourcing analysis

Operational Capabilities - Catering Services

  • Employee Strength - 25%
  • Years in Service - 25%
  • Revenue Generated - 15%
  • Geographic Service Provision - 15%
  • Certifications - 15%
  • Key Clients - 5%

Functional Capabilities - Catering Services

By type:

  • Wedding Catering - 25%
  • Corporate Catering - 15%
  • Social Events Catering - 15%
  • Contractual - 15%
  • Non-contractual - 15%
  • Others - 15%

Rate Benchmarking

The geographical location and nature of the business play a vital factor in analyzing the rate benchmarking of the catering service category. For example, catering services in the U.S. are typically more expensive than services in India. Living expenses are higher in the US than those in India because of the increased cost of food, labor, and other factors, catering services may become more expensive. In general, ingredients in the US are of a higher quality than those from India. This is due to strict food safety laws and the developed agricultural sector in the United States. 

As a result, American catering businesses employ higher-quality ingredients, which may result in more expensive costs. The level of service is generally higher in theUS than in India. This is because catering companies in the US have more experience and expertise, and they are able to provide a higher level of personalized service. The cost of catering is higher in the UK than it is in China. The greater cost of living in the UK, the higher wages for catering personnel, and the higher price of food ingredients are a few reasons for this. In China, catering cost is often calculated per person or per table. Depending on the kind of event, the number of visitors, the menu, and the degree of service, the cost will change.

Supplier Newsletter

It is cumbersome for any organization to continuously track the latest developments in their supplier landscape. Our newsletter service helps them remain updated, to avoid any supply chain disruption which they may face, and keep a track of the latest innovations from the suppliers. Outsourcing such activities help clients focus on their core offerings. Our research on the catering services market has identified the following developments:

In February 2021, DoorDash, a U.S.-based online food ordering, and food delivery platform, acquired an automated food preparation company called Chowbotics. This acquisition will help DoorDash expand its current menu offerings as well as reach new customers in new markets without investing in an entirely new store.

In October 2020, Westbury Street Holdings (WSH), the company behind a number of foodservice brands operating in the U.K. and Europe, completed the acquisition of bartlett mitchell. With this acquisition, WSH strengthened its presence across Europe.

List of Key Suppliers

  • Ann Sather
  • Aramark Corporation
  • Aria catering
  • AVI Food Systems
  • Bartlett Mitchell
  • Black Olive Catering
  • Blue Plate
  • CH and Co Catering Group
  • Compass Group
  • Delaware North Companies  

Browse through Grand View Research’s collection of procurement intelligence studies: 

Catering Service Procurement Intelligence Report Scope

  • Catering Service Category Growth Rate : CAGR of 5.8% from 2023 to 2030
  • Pricing Growth Outlook : 7% - 9% (Annual)
  • Pricing Models : Fixed price pricing model
  • Supplier Selection Scope : Cost and pricing, past engagements, productivity, geographical presence
  • Supplier Selection Criteria : Quality, price, safety measures, cost and value, support and maintenance, regulatory compliance, flexibility, and others
  • Report Coverage : Revenue forecast, supplier ranking, supplier positioning matrix, emerging technology, pricing models, cost structure, competitive landscape, growth factors, trends, engagement, and operating model 

Brief about Pipeline by Grand View Research:

A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of supply chain, which helps in efficient procurement decisions. 

Our services include (not limited to):

  • Market Intelligence involving – market size and forecast, growth factors, and driving trends
  • Price and Cost Intelligence – pricing models adopted for the category, total cost of ownerships
  • Supplier Intelligence – rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing
  • Sourcing / Procurement Intelligence – best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best suited countries for sourcing to minimize supply chain disruptions
Comments