10-Aug-2020 | Zion Market Research
According to the analysis of the global concession catering market by the Zion Market Research researchers, in 2019, the valuation of the market was about USD 27,303.23 million and is projected to reach about USD 38,038.57 million by the end of 2026, expanding at around 5.3% CAGR between 2020 and 2026. The key players actively participating in the global concession catering market are Autogrill, Elior Group, The Grove, Inc., SSP Group, and Concessions International, LLC.
Rising Transport Networks Around The World To Spur The Market Growth
A concession is permission to vend products or to offer services in place of a capital commitment or rent at a particular place for a pre-decided time period. Key selection rules for the presenting concession to anyone are concept design & layout, brand offering, experience, and brand reputation. A noteworthy growth is observed in the global concession catering market over past years owing to numerous aspects such as the rising transport networks globally, the increasing trend of leisure travel among the customers, and the emerging medical tourism industry.
Moreover, as the global economy carries on its route to slow yet stable revival, it is projected that the spending on travel for leisure and business will see a surge, scaling up the income of food & beverage concessionaires at tourist places. In addition, the rising emphasis of concession caterers on offering refreshing ambiance and healthy fast food is also anticipated to drive the global concession catering market growth. Further, the market is also projected to expand progressively in the forecast period owing to the dropping cost of oil, mounting middle-class population, increasing global GDP, and reducing prices of food. Furthermore, the major trends observed in the concession catering market are expansion strongly supported by the airport segment, constructive macroeconomic world outlook, culinary & technological innovations, and anticipated consolidation of leading market players.
Dominance In The Global Concession Catering Market To Be Maintained By Europe
The global concession catering market is divided based on product type, end-user/application, and region. The concession catering market, on the basis of product type, is classified into beverages and food. The market, on the basis of end-users/application is categorized into motorways, airports, city sites, leisure, and railways. Regionally, the global concession catering market is bifurcated into the Middle East & Africa, Europe, Asia Pacific, Latin America, and North America. Amongst the regions, in 2018, the largest share of the market was held by Europe and is expected to maintain its dominance in the forecast period as well. To cite, PAI Partners, a European private equity company, accomplished the procurement of concession catering brand Areas of Elior Group for an enterprise price of €1.542 billion. Further, Asia Pacific is also anticipated to witness growth in the concession catering market at a rapid pace. The progress of the market in this region can be attributed to the existence of an enormous consumer base, specifically in emerging countries such as India and China, apart from the rising per capita income.
Browse the full “Global Concession Catering market - By Product (Beverages And Food), By End-User/Application (Motorways, Airports, City Sites, Leisure, And Railways), And By Region - Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2026.” Report at https://www.zionmarketresearch.com/report/concession-catering-market
The global concession catering market is segmented as follows:
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