Industry Analysis & Industry Trends
The Caterers industry has cooked up a new recipe for growth in recent years. Industry revenue has increased as consumers and businesses hiked up spending on industry services. Operators introduced new menu items and are providing a wider range of services to satisfy increasing client requirements. Recent growth has been aided by a recovery in consumer spending and corporate profit; therefore, households and businesses are expanding their budgets and hosting more catered events. Over the next five years, the Caterers industry is forecast to continue to improve as both consumer spending and corporate profit reach all-time highs... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The Caterers industry is in the mature stage of its industry life cycle. The industry’s value added (IVA), which measures an industry’s contribution to GDP, is expected to rise at an average annual rate of 1.3% during the 10 years
to 2022; this compares with GDP growth of 2.0% during the same period. Generally, industries that grow at a similar or slower rate as the US gross domestic product are considered to be mature. In addition, the basis of the industry’s business is widely accepted in its current form and has not experienced any major technological change.
Despite steady demand, the industry is in the midst of a rather significant change in consumer preferences. Dem.. purchase to read more