Overview and Scope
Concession F&B refers to food and beverage services provided within a concession or a specifically designated area within a larger establishment or venue. It typically involves the leasing or contracting space by a third-party vendor to operate a food and beverage business.
Sizing and Forecast
The concession f&b market size has grown strongly in recent years. It will grow from $29.9 billion in 2023 to $31.55 billion in 2024 at a compound annual growth rate (CAGR) of 5.5%. The growth in the historic period can be attributed to consumer demand for convenience, entertainment and leisure industry growth, event and venue infrastructure development, enhanced marketing strategies, regulation and licensing policies.
The concession f&b market size is expected to see strong growth in the next few years. It will grow to $38.37 billion in 2028 at a compound annual growth rate (CAGR) of 5.0%. The growth in the forecast period can be attributed to integration of entertainment and dining, expansion to non-traditional venues, focus on inclusive options, sustainability and eco-friendly initiatives, personalization and customization. Major trends in the forecast period include hybrid dining experiences, contactless transactions, virtual menu offerings, gourmet and premium selections, cultural and global fusion foods.
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Segmentation & Regional Insights
The concession f&b market covered in this report is segmented –
1) By Type: Food, Beverage
2) By Cuisine: American, European, Asian, African, Latin America
3) By Application: Airports, Motorways, Railways, City Sites And Leisure, Sports Arenas, Retail Outlets
Asia-Pacific was the largest region in the concession F&B market in 2023. The regions covered in the concession f&b market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The rise of the leisure and tourist industries is expected to propel the growth of the concession F&B market going forward. The leisure and tourist industry encompasses businesses and services that cater to the needs and desires of leisure travelers and tourists. Concession F&B plays a vital role in the leisure and tourist industries by providing food and beverage services to travelers and tourists at various destinations and attractions. Concession F&B within the leisure and tourist industries is essential for enhancing visitors’ satisfaction and overall enjoyment. For instance, in May 2023, according to the World Travel & Tourism Council (WTTC), a UK-based travel institution, the travel and tourism sector contributed 7.6% to the global GDP in 2022, an increase of 22% from 2021. Therefore, the rise of the leisure and tourist industries will drive the future concession F&B market.
Key Industry Players
Major companies operating in the concession f&b market report are Nestlé S.A., PepsiCo, Bunge, Mars, The Coca-Cola Company, Olam International, Mondelez International Inc, Smithfield Foods/WH Group, Kraft Heinz Company, General Mills, Royal FrieslandCampina, Arla Foods, China Mengniu Dairy Company, Keurig Dr Pepper, ConAgra Brands, The Hershey Co, Paradies Lagardère, Elior Group, Autogrill, Lagardère Travel Retail Group, Delaware North Companies Inc., SSP Group plc, HMSHost, Emirates Leisure Retail, OTG Management LLC, DreamFolks Services Limited, Creative Food Group LLC, Plaza Premium Group, Areas Worldwide, MarketPlace Development.
The concession f&b market report table of contents includes:
1. Executive Summary
2. Concession F&B Market Characteristics
3. Concession F&B Market Trends And Strategies
4. Concession F&B Market – Macro Economic Scenario
5. Global Concession F&B Market Size and Growth
…
32. Global Concession F&B Market Competitive Benchmarking
33. Global Concession F&B Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Concession F&B Market
35. Concession F&B Market Future Outlook and Potential Analysis
36. Appendix
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