The global cateringservices market is expected to grow at a CAGR of 6.04% during theforecast period. Some of the prominent vendors in the global catering servicesmarket include Aramark, Compass Group, DO & CO, EliorGroup, gategroup, and Newrest among others. As per the latest market research report published byTechnavio, the global catering services market size will grow by USD 184.98billion during 2019-2023. Get the free sample report below for the detailedinformation.
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The global catering services market is witnessing thegrowing number of mergers and acquisitions (M&As). For instance, inNovember 2016, EliorGroup announced its entry into the Indian market with simultaneousacquisitions of MegaBite Food Services and CRCL, two leading contract caterersfor the business and industry market in India. In December 2016, gategroup was acquired by HNA Group through an all-cash publictender 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 serviceportfolio, penetrate new markets, increase market share, reduce financingcosts, and achieve economies of scale. Hence, the growing number of M&As isexpected to fuel the growth of the global catering services market during theforecast period. To know the complete and in-depth analysis andforecast of this market get the complete report by clicking the link below.
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Catering Services Market