What Fueled The Previous Growth In The Concession F&B Market?
The concession f&b market has seen considerable growth due to a variety of factors.
•The footprint of the concession food and beverage market has noticeably expanded in the past few years. The market value is projected to increase from $31.55 billion in 2024 to $33.26 billion in 2025, exhibiting a Compound Annual Growth Rate (CAGR) of 5.4%.
Key factors that have facilitated this immense growth in the historical period include a growing consumer preference for convenience, the expansion of the entertainment and leisure sector, development in event and infrastructure venues, improved marketing tactics, and the implementation of regulatory and licensing policies.
What Is The Expected Growth In The Concession F&B Market Size?
The concession f&b market is expected to maintain its strong growth trajectory in upcoming years.
• It is anticipated that the concession f&b market will experience significant growth in the coming years, reaching a size of $40.6 billion in 2029 with a compound annual growth rate (CAGR) of 5.1%.
The predicted growth during this period is due to the combination of entertainment and dining, expansion into non-traditional venues, emphasis on inclusivity, sustainable and eco-friendly practices, and personalization and customization. Key trends forecasted include the emergence of hybrid dining experiences, the use of contactless transactions, the introduction of virtual menu options, the availability of gourmet and premium dishes, and the incorporation of diverse and globally inspired foods.
What Main Forces Are Fueling Expansion In The Concession F&B Market?
The anticipated expansion of leisure and tourist sectors is predicted to fuel the progression of the concession F&B market. Companies and services that fulfill the wants of leisure travelers and tourists come under the leisure and tourist industry domain. The role of concession F&B within these industries is crucial as they offer food and drink services at diverse tourist attractions, thereby enhancing the satisfaction and overall pleasure of visitors. For example, the World Travel & Tourism Council (WTTC), a travel organization based in the UK, reported in May 2023 that the travel and tourism industry constituted 7.6% of the worldwide GDP in 2022, signifying a 22% growth from 2021. Hence, the development of the leisure and tourist industries will likely steer the future concession F&B market.
What Are The Primary Segments In The Global Concession F&B Market?
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
Subsegments:
1) By Food: Snacks, Fast Food, Confectionery, Frozen Foods, Meal Kits
2) By Beverage: Soft Drinks, Alcoholic Beverages, Coffee And Tea, Bottled Water, Energy Drinks
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Which Key Trends Are Driving Changes In The Concession F&B Market?
The rise of cutting-edge technology is a significant trend being seen in the concession Food & Beverage (F&B) industry. Major players in this field are concentrating on the introduction of novel technologies to maintain their market stance. Aramark, a food firm based in the USA, for example, launched Artificial Intelligence (AI) Self-Checkout and digital age verification technologies in arena concessions in October 2022. These innovations will be made available in the new Drink Mkt at Capital One Arena, along with Drink Mkt and Walk Thru Bru at the Canadian Tire Centre. Moreover, fans at AT&T Center will be able to order cocktails via mechanized bars that use facial recognition, after registering with a valid government-issued ID.
Who Are the Key Players in the Concession F&B Market?
Major companies operating in the concession f&b market include:
• 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
• 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.
What Is The Most Dominant Region In 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 are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
