Catering Services in Australia Industry Market Research Report Now Updated by IBISWorld - WSET.com - ABC13

Catering Services in Australia Industry Market Research Report Now Updated by IBISWorld

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A growing number of businesses have been outsourcing catering functions to industry firms. For this reason, industry research firm IBISWorld has updated its report on the Catering Services industry in Australia.

Melbourne, Australia (PRWEB) August 22, 2014

Players in the Catering Services industry in Australia have gone through a period of strong growth over the past five years. Industry revenue is estimated to rise at an annualised 3.6% over the five years through 2014-15. This performance has been supported by a growing trend among businesses to outsource catering functions to industry firms, which allows companies to focus on their core operations and leave catering to the experts. According to IBISWorld industry analyst Stephen Gargano, steady increases in demand from airlines, mining companies, government departments and households have also supported industry growth. Revenue is forecast to rise by 4.3% over 2014-15, to reach $5.9 billion.

The Catering Services industry is a mix of large, global organisations that service multimillion-dollar contracts, and smaller independent businesses that provide catering for smaller events such as wedding receptions and other functions. At the top end of the industry, major players have become more diversified and are increasingly providing catering alongside other services such as building maintenance, security and cleaning. This trend has expanded over the past decade due to increased competition among major players and the synergies that can be realised by providing diversified services. At the bottom end of the market, operators typically operate off low margins due to significant price competition. The relatively low barriers to entry associated with running a small-scale catering company have exacerbated competition, says Gargano. The industry is characterised by a medium level of market share concentration. Major players include Compass Group (Australia) Pty Ltd, Spotless Group Holdings Limited, Sodexo Australia Pty Limited and Qantas Airways Limited.

Revenue growth over the next five years will be supported by steady increases in demand from downstream markets. Demand from the Mining division has helped drive the industry over the past five years, and is expected to continue its growth (albeit more slowly) as mining companies continue to seek suitable hospitality options for their staff. Rising household discretionary income is expected to encourage Australians to eat out, meaning consumers are more likely to spend on meals prepared by caterers in airports, hospitals and major sporting and cultural events.

For more information, visit IBISWorlds Catering Services industry in Australia report page.

This industry includes specialist caterers and food-service operators that are primarily involved in the provision of catering services at specified locations or events. Meals and snacks may be transported or prepared and served on or off the premises, as required by the client.

Follow IBISWorld on Twitter: http://twitter.com/#!/ibisworldau

IBISWorld industry Report Key Topics

Industry Performance
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
Products & Markets
Supply Chain
Products & Services
Major Markets
International Trade
Business Locations
Competitive Landscape
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Industry Globalisation
Major Companies
Operating Conditions
Capital Intensity
Technology & Systems
Revenue Volatility
Regulation & Policy
Industry Assistance
Key Statistics
Industry Data
Annual Change
Key Ratios

About IBISWorld Inc.
Recognised as the nations most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every Australian industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Melbourne, IBISWorld serves a range of business, professional service and government organisations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com.au or call (03) 9655 3886.

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