Major market drivers include rising middle-class disposable incomes, increasing tourism at metropolitan sites and leisure travel among consumers, more travel, expanding global transportation networks, and improved consumer living standards throughout the world.
Covid-19 Impact & Market Status
Almost every sector in the world has suffered a setback in the previous 18 months. This can be traced to major modifications in their management and supply operations in the event of diverse precautionary lockdowns and other restrictions placed by governments all over the world.
Consumer demand has declined as a result of the outbreak's significant impact on most people's overall economic condition, as people have become more focused on cutting non-essential items from their budgets.
The aforementioned variables are projected to have an impact on the global Concession Catering market's revenue trajectory throughout the forecast period. The global Concession Catering market is likely to rebound as regional regulatory agencies begin to lift these enforced lockdowns.
The impacts of the corona virus infection 2019 (COVID-19) is already being felt throughout the world, and the Concession Catering industry will be severely damaged in 2020. Flight cancellations, quarantines, restaurant closures, growing panic among the population, emergencies, declared in many countries, falling business confidence, travel bans, indoor events restricted, stock market volatility, massive supply chain slowdown, and uncertainty about the future are just a few of the effects of the COVID-19 outbreak.
The Food & beverages Segment is Likely to Hold Highest Market Revenue in the Predicted Timeframe
The market is divided into two categories: food and beverages. The Food sector now holds the largest market share and is predicted to expand significantly and continue to dominate the global market over the forecast period. The section displays each sort of production, as well as the revenue collected, market share, and growth rate.
The Airports Segment is Likely to Hold Highest Market Revenue in the Predicted Timeframe
Airports, Highways, Railways, and City Sites & Leisure are the segments of the market. In the global market, the Airports component has the biggest market share and is expected to develop at a rapid pace over the forecast period. The Segment focuses on each application's current position and potential for substantial application value, market share, and growth valuation.
Due to an increase in air travelers and a global trend of airline travel, the airport segment is likely to hold the greatest share of the market. Major market drivers include expanding global transportation networks, increasing tourism at metropolitan sites and leisure travel among consumers, rising middle-class disposable incomes, increased travel, and improved consumer living standards around the world.
The North American Market is Likely to Hold Highest Market Revenue in the Predicted Timeframe
The market is divided into North America, Asia Pacific (APAC), Latin America, Europe, and the Middle East & Africa. North America region is further sub-divided into countries such as Canada and the U.S. Europe is further divided into Germany, Italy, the United Kingdom, France, Spain, Russia, and the Rest of Europe.
A concession is the right to sell goods and services for a limited time in exchange for rent or capital investment in a specific location.
By 2028, the global concession catering industry is expected to develop at a 6.02% compound annual growth rate (CAGR) to US$ 301.1 billion. The major selection factors for awarding a concession are the brand offering, concept design and layout, brand repute, and experience.
All of these gatherings usually include catered food. The objective isn't to provide a large variety of items, but to concentrate on the most popular meal alternatives and service speed. The global concession catering market report includes all inside analysis and opinions, as well as volume and value market share by companies, regions, product type, and customers, as well as cost/revenue structure.
In addition, the Global Concession Catering research provides a complete description of key market growth factors and limitations, as well as impact analysis. Concession catering aids in attracting customers from a large audience or visitors at areas such as rest stops, airports, and train stations. Furthermore, concession catering is done in-house or even outsourced to a specific catering company.
Concession catering also covers service level catering and the establishment of high-quality service levels. The concession catering industry will be influenced by quickly expanding transportation networks and burgeoning medical tourism activities during the anticipated timeframe. Aside from that, an increase in leisure travel among clients will drive up demand for concession catering in the future years.
The increase in business travel has led to a boom in revenue for food and beverage concessionaires at a variety of tourist destinations, guiding market growth. Today, concession catheters are focusing on providing consumers with a healthy diet and refreshment, which will result in the significant market growth over the foreseeable year.
Classic Catering, Good Foods Catering, Elior Group, SSP, British Event Catering Services, Catering By Uptown, Autogrill, Sweet Hospitality Group, Concessions International LLC, The Grove Inc., Plurban Gourmet Event Catering, and Ismaya Catering are among the key players analyzed, profiled, studied, and benchmarked in the Concession Catering Market.
Latest Innovations in the Global Concession Catering Market: a Snapshot
- The global concession catering market has grown in recent years as a result of numerous causes, including expanding transportation networks around the world, a burgeoning medical tourism business, and a growing trend of leisure travel among consumers.
- As the global economy continues its slow but steady recovery, it is expected that business and leisure travel expenditures will rise, boosting revenue for food and beverage concessionaires at tourism destinations.
- Concession caterers' increasing focus on providing healthy fast food in a refreshing environment is expected to boost sales in this market.
Concession Catering Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||US$ 301.1 billion|
|Growth Rate||CAGR of 6.02 % during 2021-2028|
|Segment Covered||Type, Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||Classic Catering, Good Foods Catering, Elior Group, SSP, British Event Catering Services, Catering By Uptown, Autogrill, Sweet Hospitality Group, Concessions International LLC, The Grove Inc., Plurban Gourmet Event Catering, and Ismaya Catering|
Key Segments of the Global Concession Catering Market
Type Overview, 2018-2028 (USD Billion)
Application Overview, 2018-2028 (USD Billion)
- Railways, City Sites & Leisure
Region Overview, 2018-2028 (USD Billion)
- North America
- Asia Pacific
- Middle East and Africa
- South America