Press release
Concession F&B Market: Exploring Growth Potential, Key Drivers, and Trends for 2024-2029
Concession F&B Market Size
What Is The Projected Market Size Of The Global Concession F&B Market And Its Growth Rate?
The concession F&B market has shown strong growth recently and is predicted to continue in this trajectory.
• The market is set to grow from $31.55 billion in 2024 to $33.26 billion in 2025, resulting in a compound annual growth rate (CAGR) of 5.4%.
• This historic period growth is linked to consumer demand for convenience, growth in the entertainment and leisure industries, and development in event and venue infrastructure.
• The concession F&B market is projected to grow further to $40.6 billion in 2029 at a compound annual growth rate (CAGR) of 5.1%.
• Growth in the forecast period can be attributed to factors such as the integration of entertainment and dining and the expansion to non-traditional venues.
What Is Driving The Growth In The Concession F&B Market?
The growth of the concession F&B market is expected to be driven by the rise of the leisure and tourist industries. These industries consist of businesses and services catering to leisure travelers and tourists. Concession F&B services play a vital role in these industries, enhancing visitors' satisfaction and overall enjoyment. According to the World Travel & Tourism Council (WTTC), the travel and tourism sector contributed 7.6% to the global GDP in 2022, an increase of 22% from 2021. This rise of the leisure and tourist industries will continue to drive the future concession F&B market.
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Who Are The Key Players Driving Concession F&B Market Growth?
The concession F&B market sees significant contributions from major companies such as:
• Nestlé S.A.
• PepsiCo
• Mars
• The Coca-Cola Company
• Olam International
• Mondelez International Inc
• Smithfield Foods/WH Group
• Kraft Heinz Company
• General Mills
• Royal FrieslandCampina
What Are The Key Trends In The Concession F&B Market?
Key trends for this period include:
• Hybrid dining experiences
• Contactless transactions
• Virtual menu offerings
• Gourmet and premium selections
• Cultural and global fusion foods
What Are The Segments Of The Global Concession F&B Market?
The concession F&B market is segmented by:
1) Type: Food, Beverage
2) Cuisine: American, European, Asian, African, Latin America
3) Application: Airports, Motorways, Railways, City Sites And Leisure, Sports Arenas, Retail Outlets
Which Region Leads The Concession F&B Market?
Asia-Pacific was the largest region in the concession F&B market in 2024. The regions covered in the concession F&B market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Concession F&B Market Global Market Report?
- Market Size Analysis: Analyze the Concession F&B Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Concession F&B Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Concession F&B Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Concession F&B Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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