LONDON--(BUSINESS WIRE)--Global procurement intelligence advisory firm, SpendEdge, has announced the release of their ‘Catering Services Procurement Research Report.’ The insights and data in this report provide a strategic analysis of the supply markets, factors influencing purchasing decisions, procurement best practices, pricing models, supplier landscape, and an analysis of the supplier capability matrix of the facility management industry. This report breaks down the data and analysis behind the procurement of catering services and acts as an all-inclusive guide for making smart purchasing decisions.
“The contract catering services market is witnessing rapid growth due to the increasing demand from the education sector, especially in regions such as the Americas and Europe,” says lead SpendEdge procurement analyst Angad Singh. “To meet buyers' demands, suppliers are constantly focusing on service innovations such as adopting the use of trending cooking styles and live kitchen counters for guest interaction,” added Angad.
Key Report Features
| Supply Market Insights | Negotiation Strategies | ||
| Procurement Best Practices | Category Risk Analysis | ||
| Cost Saving Opportunities | Key Supplier Analysis | ||
| Pricing Models | Supplier Capability Matrix | ||
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Report Highlights
- The catering services market is projected to grow at a CAGR of 4.1% over the next five years due to the expansion of industries, the growth of the travel sector, and changes in lifestyles.
- Suppliers should ensure the implementation of food safety management procedures at the cooking area, as well as during the delivery of the service to provide fresh and hygienic food to the buyers.
- Buyers need to engage with suppliers who use high-quality packaging material that protects the food items against microbes and mechanical damages during transportation.
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Catering Services Pricing Trends
Catering service suppliers provide the buyers an option to opt for the fixed fee pricing model, cost-plus pricing model, or the hybrid pricing model. The fixed fee pricing model provides the total cost prior to the announcement of the contract, making it the most adopted model. However, the hybrid pricing model displays the highest potential as it helps the buyers in optimizing budgets, provides clear pricing structure, and ensures high-quality results.
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About SpendEdge
SpendEdge shares your passion for driving sourcing and procurement excellence. We are a preferred procurement intelligence partner for Fortune 500 firms and other leading companies across numerous industries. Our strength lies in delivering robust, real-time procurement market intelligence that helps sourcing and procurement professionals make informed decisions. These innovative procurement solutions help enterprises transform structural capabilities, improve execution efficiency, and fast-track time to savings.
