Corporate Events and Food Delivery Industry

Goals

To provide an analysis of the growth of the corporate events industry from 2000 to 2020, which includes the impact of the 2003 SARS, 2008 recession, and 2020 COVID-19 pandemic on the industry. Also, to provide a comparative analysis of the growth rate of the food delivery market with the corporate events industry from 2010-2020.

Early Findings

Corporate Events Industry

  • According to the Events Industry market report, in 2018, the corporate events & seminars segment accounted for the maximum events industry share, which was mainly driven by the rise in the number of corporate companies and seminars & events organized by them.
  • According to American Express’ Global Meetings and Events Forecast report, about 72% of the conference and corporate event creators work with an annual budget of less than $30,000, and 38% spend less than $1,000 per event.
  • Findings from the Global Meetings and Events Forecast survey reports that about 45% of corporate events creators team consisted of 2 to 5 members, and 12% of events had 10 or more people.

Impact of COVID-19 on Corporate Events Industry

  • According to the PCMA survey, about 52% of business event industry planners had the opinion that COVID-19 has impacted their revenue by greater than 75 percent when compared to the same period in 2019. The report also suggests that about 25% of the event industry organizers agreeing that they had a decline in revenue of between 51-75 percent.
  • About 40% of the business event industry planners also believed their revenue would decline by 25-50 percent in 2021.
  • Findings from the PCMA survey suggest that about 51% of APAC-based business events planners anticipating digital event technology will highly or extensively impact face-to-face attendance at their events in 2021.
  • Due to the COVID-19 pandemic, the event management industry in the United States saw an 81% cancellation rate for in=person events from March to June 2020.

Food Delivery Market

  • According to the Global Online Food Delivery Services Market, the global online food delivery services market is expected to grow from $107.44 billion in 2019 and to $111.32 billion in 2020 at a growth rate of 3.61%.
  • In 2020, the global food delivery services market saw a slow growth mainly due to the economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it.
  • The global online food delivery market is expected to grow at a compound annual growth rate of 11.51% and reach $154.34 billion in 2023.
  • The North American region leads in the food delivery services market mainly due to the presence of a well-organized foodservice industry, constant development, high disposable income, and rapid urbanization.

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