Concession catering deals are those that generally include a particular type of service level depicting catering offers and setting high-quality levels. Concession caterers help in attracting customers from among a large number of visitors as well as travelers at roadside highway stoppage points, airport, and railway stations. The concession catering activities are either in-house or are outsourced to a particular catering organization.
Global Concession Catering Market: Growth Factors
The overall concession catering industry is predicted to expand rapidly in the near future due to diminishing oil costs, an increase in the GDP of the global population, and high product demand in the travel & tourism sector. Apart from this, inflating middle-class population along with decimating food costs are expected to make notable contributions towards the concession catering industry in the coming years. Moreover, favorable macroeconomic global overview, strong surge experienced across the airport sector, a projected partnership of major participants, and technological breakthroughs are expected to further expedite the expansion of concession catering industry in the coming years. Nevertheless, the expansion of the industry can be adversely impacted due to rapidly altering customer preferences, instabilities witnessed in the currency rates, and oscillations in the raw material costs.
Moreover, rapidly evolving transportation networks, flourishing medical tourism activities and prominent increase in leisure travel activities will boost the business trends in the near future. The market earnings are likely to be lucratively influenced due to the high focus of the industry players on offering healthy & nutritive fast food and rejuvenating environment to the customers.
Global Concession Catering Market: Segmentation
The overall concession catering industry is segregated based on the end-use and product type. On the basis of end-use, the market for concession catering is divided into leisure, airports, railways, city sites, and motorways. Among the end-use segments, the airport segment is likely to dominate the overall industry growth during the estimated timeline. Based on the product type, the industry is segmented into food and beverages.
Global Concession Catering Market: Regional Analysis
Based on regions, the overall concession catering industry can be divided into five main regions: Europe, Asia Pacific, North America, Latin America, and the Middle East and Africa. The European region is likely to make major contributions towards the overall market share during the projected timeline. The growth can be attributed to massive consumer spending on business travel activities & leisure events in the region. Additionally, the Asia Pacific market is slated to expand at the rapidly in the forthcoming years due to the presence of huge customer base in the emerging countries like India and China. Apart from this, the increase in the per capita expenditure in these countries will further steer the growth of the regional market in the forthcoming years.
Moreover, North America, the Middle East & Africa, and Latin America are likely to be the key business destinations in the near future.
Global Concession Catering Market: Competitive Players
Key players involved in the concession catering business include Autogrill, Concessions International, Elior Group, The Grove, and SSP.