The global catering services market is expected to grow at a CAGR of 6.04% during the forecast period. Some of the prominent vendors in the global catering services market include Aramark, Compass Group, DO & CO, Elior Group, gategroup, and Newrest among others. As per the latest market research report published by Technavio, the global catering services market size will grow by USD 184.98 billion during 2019-2023. Get the free sample report below for the detailed information.
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The global catering services market is witnessing the growing number of mergers and acquisitions (M&As). For instance, in November 2016, Elior Group announced its entry into the Indian market with simultaneous acquisitions of MegaBite Food Services and CRCL, two leading contract caterers for the business and industry market in India. In December 2016, gategroup was acquired by HNA Group through an all-cash public tender offer for all publicly held registered shares of gategroup.
Similarly, in December 2017, Aramark acquired Avendra, a leading hospitality procurement services provider in North America. Market players are engaging in M&A activities to diversify their service portfolio, penetrate new markets, increase market share, reduce financing costs, and achieve economies of scale. Hence, the growing number of M&As is expected to fuel the growth of the global catering services market during the forecast period. To know the complete and in-depth analysis and forecast of this market get the complete report by clicking the link below.
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