Concession Catering Market: Market Estimation & Definition
The Concession Catering Industry, encompassing food and beverage services provided at high-traffic venues such as airports, motorways, railways, and city leisure sites, was valued at USD 238.31 billion in 2022. Forecasts indicate that the market will expand at a steady CAGR of 6.02%, reaching approximately USD 358.81 billion by 2029. This growth is fueled by increasing demand for convenient, on-site dining options during travel and leisure activities, alongside evolving consumer preferences for varied and specialized food offerings.
Market Overview
The report includes the analysis of the impact of COVID-19 lockdown on the revenue of market leaders, followers, and disruptors. Since the lockdown was implemented differently in various regions and countries; the impact of the same is also seen differently by regions and segments. The report has covered the current short-term and long-term impact on the market, and it would help the decision-makers to prepare the outline and strategies for companies by region.
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Market Growth
Major driving factors of the market are rising transport networks across the globe, growing tourism at city sites and leisure travel among consumers, growing disposable incomes of the middle-class population, increasing traveling and improving living standards of consumers across the globe. Moreover, the growing focus of concession caterers on providing healthy fast food and a refreshing atmosphere is also estimated to boost the market growth during the forecast period. However, frequently changing consumer taste and preference act as restraints to the market.
Segmentation Analysis
The market is segmented by end-user into:
by End User Industry
Airport
Motorway
Railway
City Sites & Leisure
by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
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Regional Analysis
Asia Pacific is expected to hold the largest share in the market during the forecast period due to rising GDP and growing middle-class population in developing countries of this region such as India and China. India is expected to boost the market growth in the Asia Pacific region owing to increasing spending on parties and other events among consumers.
The report includes a detailed study of Porter’s Five Forces model to analyze the different factors affecting the growth of the market. Moreover, the study also covers a market attractiveness analysis, PESTLE analysis, Value Chain Analysis, and SWOT analysis.
Competitor Analysis
1. British Event Catering services
2. Sweet Hospitality Group
3. The Grove Inc.
4. Concessions International LLC
5. Elior Group
6. Autogrill
7. SSP
8. Randy Peters
9. Williamsburg Concession and Catering
10.Spectrum Concessions
11.Plurban Gourmet Event Catering
12.Good Foods Catering
13.Catering By Uptown
14.Classic Catering
15.Ismaya Catering
Conclusion
In conclusion, the concession catering market is poised for consistent, value-driven growth through 2029. Increasing travel, urbanization, and consumer expectations are creating exciting opportunities for innovation and market expansion. As operators adapt to sustainability demands, digital services, and diversified menus, the sector remains a vital contributor to modern travel and leisure infrastructure, promising a vibrant future for both established companies and emerging players.
Frequently Asked Questions:
1. Which region has the largest share in Global Concession Catering Market?
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