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In terms of type, the global catering services market has been categorized into contractual catering services and non-contractual catering services. Of these two categories, the contractual catering services segment accounted for the largest market share in 2020 and is expected to continue its market dominance during the forecast period. Constantly changing dynamics of the modern workforce and insatiable appetite for different types of cuisines are some of the major factors anticipated to aid the leading position of the contractual catering services segment. Moreover, the contractual catering services segment is likely to be driven by the introduction of various offers such as limited-time menu offerings and promotional offers. Rising demand from high-income households and businesses would aid the global catering services market, with consumers spending more money on parties and other catered functions along with loosening corporate budgets in line with stronger corporate profit.

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