Concession F&B Market Report 2024 Latest Insights, Growth Rate, Future Trends And Forecast | Key Players : Nestlé S.A., PepsiCo, Bunge, Mars, The Coca-Cola Company, Olam International, Mondelez International Inc

"The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Concession F&B Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $38.37 billion In 2028 At A CAGR Of 5.0%.

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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Concession F&B Market Major Segments
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

Key Driver - The Symbiotic Growth Of Concession F&B With The Booming Leisure And Tourist Industries

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.

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Prominent Trend - Innovative Technological Advancements Reshaping Concession F&B Market

Innovative technology is a key trend gaining popularity in the concession F&B market. Major companies operating in the concession F&B market are focused on developing innovative technologies to sustain their position in the market. For instance, in October 2022, Aramark, a US-based food company, introduced AI Self-Checkout and digital age verification at arena concessions. These technologies will be available in a new Drink Mkt at Capital One Arena and the Canadian Tire Centre's Drink Mkt and Walk Thru Bru locations. Additionally, fans at AT&T Center can order cocktails via automated bars using facial recognition technology once registered with a valid government-issued ID.

Concession F&B Market 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.

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Largest And Fastest Growing Region In The Market
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

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Concession F&B Market Report Structure
3. Concession F&B Market Trends And Strategies
4. Concession F&B Market - Macro Economic Scenario
5. Concession F&B Market Size And Growth
…..
27. Concession F&B Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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