Industry Analysis & Industry Trends
With the economy having improved since 2010, and some recessionary fears subsiding, consumers are treating themselves to meals at cafeterias, sporting events and other industry-served facilities more frequently. This trend is expected to result in increased demand for food service contractors. The outsourcing of catering services by correctional, education and healthcare (including elderly care) facilities will provide continued growth prospects for operators. Bundling food services within broader facilities management contracts for clients will also drive growth... purchase to read more
Industry Report - Industry Analysis Chapter
The weak economy and rapid unemployment growth have slowed the Food Service Contractors industry during the recession. However, the industry has managed to mitigate its losses due to the long-term trend of healthcare facilities, prisons and educational institutions outsourcing their food service functions. This trend has provided continued opportunities for growth in an otherwise down economy. Over the five years to 2013, revenue is expected to grow at an average annual rate of 2.5%. Industry revenue declined 1.6% in 2009 and bounced from year-end 2009 to 2012, increasing at an annualized rate of 3.7%. In 2013, IBISWorld expects revenue to grow 3.0% to $39.0 billion... purchase to read more