SpendEdge Forecasts a Spend Growth of Over USD 30 Billion for the Catering Industry
LONDON--(BUSINESS WIRE)--Nov 21, 2019--
SpendEdge, a global procurement market intelligence firm, has announced the release of its Global Catering Industry – Procurement Intelligence Report.
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Global Catering Industry Procurement Intelligence Report. (Graphic: Business Wire)
Improvement and maintenance of quality catering services are being perceived as a talent attraction or retention strategy by enterprises in the corporate sector. This thought will serve as one of the prominent growth drivers in the catering industry and will drive the spend momentum at a CAGR of more than 4% during the forecast period. It has been observed that buyers from the B&I sector typically outsource a large part of their catering services that are required on occasions like formal gatherings, corporate parties, and outbound activities to specialized catering suppliers.
“ B&I is the largest end-user segment within the catering industry, accounting for approximately 45% of total market spend,” says lead SpendEdge procurement analyst Angad Singh.
SpendEdge’s sample reports are free of charge and contain multiple sections of the report that offer insights into the global and regional price trends, supply market scenario, procurement best practices, and more. Request a free sample report.
Some Insights into the Catering Services Price Trends:
Is your business challenged with price dynamism? You can now get free access to real-time procurement strategies to address such price dynamism and secure your position in the catering industry market. To try our procurement platform for free, request a free demo.
What are the scopes of optimizing procurement spend in the catering industry?
The catering services price trends indicate a substantial hike in suppliers’ overall expenditure which will be ultimately compensated by buyers in the form of excess procurement spend. Strategic selection of catering services suppliers will be the key to unlock avenues where buyers can compromise on their procurement spend.
Time is money in business and it is ticking. Access to SpendEdge’s procurement platform is free and instant where you can get daily insights into the best supplier selection and negotiation strategies with the best suppliers in the catering industry.
Some of the key topics covered in this report are:
Free sample of reports that you may like:
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