Global Concession Catering market, which accrued revenue worth more than 27,303.23 (USD Million) in 2019, is set to record the CAGR of nearly 5.3% over the period from 2020 to 2026.
The global Concession Catering market, which accrued revenue worth more than 27,303.23 (USD Million) in 2019, is set to record the CAGR of nearly 5.3% over the period from 2020 to 2026. The report offers assessment and analysis of the Concession Catering market on a global and regional level. The study provides an in-depth assessment of the industry competition, limitations, sales revenues, opportunities, emerging trends, and industry-validated information. The report offers historical data from 2017 to 2019 along with a forecast from 2020 to 2026 based on revenue (USD Million).
Concession catering assists in attracting consumers from among a huge number of audience or visitors at roadside stop locations, airports, and railway stations. Moreover, concession catering activities are carried in-house and even outsourced to a specific catering firm. In addition to this, concession catering includes the service level catering and setting up of high quality levels of service.
Market Growth Dynamics
Rapidly expanding transport networks and thriving medical tourism activities will steer the growth of concession catering industry over the estimated timespan. Apart from this, surge in the leisure travels among the customers will proliferate the demand for concession catering activities in the coming years. The rise in the business travels has resulted in surge in the income of food & beverages concessionaries at myriad tourist sites, thereby steering the market growth. Today, concession catheters are focusing on offering healthy diet & refreshment for the customers and this will reap huge gains for the market over the forecast timespan.
Furthermore, rise in the per capita income of the people and changing food habits has resulted in huge market demand across the globe. Apparently, beneficial macroeconomic activities across the globe will accelerate the growth of the market over the forecast timespan. Technological advancements has further added to the surge in the growth of concession catering industry over the forecast timespan.
Europe To Establish Market Dominance Over 2020-2026
The growth of the market in Europe during the estimated timeline is due to massive expenditure on travelling & leisure activities in the region. Apart from this, increase in the living standards and demand for fast food in countries like France, Italy, UK, and Germany along with growing socialization trends will drive the market growth in the region over the coming years. Changing food habits and lifestyles of the youth in the region has further added to the growth of the market in the continent in the recent years.
Key players leveraging the market growth include The Grove, Inc., Autogrill, SSP Group, Elior Group, and Concessions International, LLC.
The global concession catering market is segmented as follows:
Rapidly expanding transport networks and thriving medical tourism activities will steer the growth of concession catering industry over the estimated timespan.
The CAGR of the industry is expected to be nearly 5.3% during the forecast timeline.
Europe will contribute remarkably towards the global market share over the estimated timeline.
The key market players include Autogrill, Elior Group, The Grove, Inc., SSP Group, and Concessions International, LLC.
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