Concession Catering Market Size, Share, Growth, and Industry Analysis, By Type (Food and Beverages), By Application (Airport, Motorway, Railway), Regional Insights and Forecast To 2032

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Concession Catering Market Report Overview

The global concession catering market size was valued at USD 35.92 billion in 2023 and is projected to touch USD 59.25 billion by 2032, exhibiting a CAGR of 5.72% during the forecast period. Asia-Pacific holds leading position in concession catering market share in 2023.

Concession catering market is a kind of food service that offers food and drink at discounted pricing to events or venues. Within the event space, concessionaires often run kiosks, carts, or standalone counters. the process of preparing and providing food for various events, including weddings, concessions, corporate events, and social gatherings, is referred to by the phrase. Events that are catered can happen offsite at a hotel, banquet hall, convention centre, or any other third-party location, or onsite in the convenience of a client's place of business or home. Major sporting events, regular tournaments, and live performances fall under this category. At all of these occasions, food is typically catered.

To make sure you have the ideal meal options for your audience, careful planning is necessary for these occasions. The goal is to focus on the most popular meal options and the speed of service rather than to offer a wide array of foods to serve. Although the term "catering" sounds straightforward, the actual process is not. The decision a person selects will depend on the size of the event they are organising and the services they will need. There are many different sorts of catering solutions available.

Additionally, there are dozens of menus offering hundreds of selections for sumptuous meals, as a result some planners may find it more difficult to decide where to begin. There are various sorts of catering, and each type has a unique ordering, pricing, and planning process. Not only would settling on one of these options save time and money, but it will also make the menu options and the services that a person will require simpler.

COVID-19 Impact: Online Catering Gained Popularity Due to Lockdown

The global COVID-19 pandemic has been unprecedented and staggering, with concession catering experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributed to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

Due to travel bans, social isolation, and home quarantines, the COVID-19 pandemic has disrupted consumer behaviour and put a stop to public or private gatherings. Online catering had gained immense popularity across the world during COVID-19 as it allowed consumers to conveniently order food through the menu on the website and it proved to be a great relief for the people. Online platforms also allowed vendors to analyse customer preferences through analytics and thus, offer products based on customer demands and needs. Vendors partnered with logistics companies to promote the timely delivery of a chosen food item, thereby increasing their operational efficiency. Thus, the growing prominence of online catering services will drive the catering services market growth during the forecast period.

LATEST TRENDS

"Technological Advancements to Propel the Market"

Over the anticipated timeframe, technological improvements have further fuelled the industry's explosive expansion in concession catering. To stay competitive, some reputable catering and hospitality businesses have released their own apps. Although conventional service techniques are effective, cutting-edge technological advancements are enabling the catering and hospitality sector to provide a higher degree of service that meets customer demand before, during, and after their visit. Internal digital solutions improve customer experience while making operations more efficient.

Concession Catering Market Segmentation

• By Type

Based on type; the market is divided into food and beverages.

In terms of product, food is the largest segment.

• By Application

Based on application; the market is divided into airport, motorway, railway.

In terms of application, airport is the largest segment.

DRIVING FACTORS

"Tourism and Leisure Travel to Propel Market Growth"

Tourism industry and leisure travel are key factors for the concession catering market growth. In addition, a rise in leisure travel by consumers will increase demand for concession catering services in the upcoming years. The increase in business travel has caused the income of food and beverage concessionaires at numerous tourist destinations to soar, driving the market's expansion. Concession stands are now concentrating on providing consumers with a healthy diet and refreshments, which will result in significant market growth during the anticipated time frame.

"Reduction in Food Prices to Stir Market Growth"

The growth of the middle class around the world and the decline in food prices are both expected to have a significant impact on the concession catering market. Global market demand is extremely high due to shifting eating patterns and an increase in the middle class's per capita income. The primary driver of market expansion is food that is made with hygiene and sold at reasonable prices.

RESTRAINING FACTORS

"Wastage of Food to Impede Market Growth"

Food waste is a huge problem within the concession catering industry. This issue continues to rise for both businesses and consumers. For caterers, it can be extremely challenging to plan the amount of food needed for an event. To arrive at an occasion without enough food can be one of the worst things in the world. Good food storage processes can help to tackle this constraint.

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Concession Catering Market Regional Insights

"Asia Pacific to Dominate the Market Owing to the Vast Middle-Class Population"

Due to the rising GDP and expanding middle-class population, Asia Pacific is anticipated to have the biggest concession catering market share over the projection period. India is anticipated to accelerate market expansion in the Asia Pacific region due to rising consumer spending on events like parties and other gatherings. The growth of the middle class around the world and the decline in food prices are both expected to have a significant impact on the concession catering market. In addition, rising socialising tendencies and the need for fast food in nationswill propel market expansion in the region during the ensuing years.

KEY INDUSTRY PLAYERS

"Key Players Leveraging the Market Growth"

The report is produced after thorough research, analysis of trends, significant events, fresh initiatives, and technological advancements and innovations. The study examines several market participants in the industry. The report also covers technical and environmental outcomes, company and region-specific studies, and the effects and hazards of growing industries. Given the occasionally changing circumstances of market players, the information's facts may alter. In terms of regional companies, North America will have the majority of the market share.

LIST OF TOP CONCESSION CATERING COMPANIES

• Ismaya Catering
• British Event Catering Services
• SSP
• Autogrill
• Concessions International LLC
• Elior Group
• The Grove Inc.
• Good Foods Catering
• Plurban Gourmet Event Catering
• Catering By Uptown
• Sweet Hospitality Group
• Classic Catering

INDUSTRY DEVELOPMENT

July 2019: Autogrill teamed up with telecommunications and digital services company Telecom Italia to offer free Wi-Fi in 100 motorway service stations across Italy, with plans to extend this to all 350 sites by the end of the year. The service not only enables all of Autogrillother ®'s digital services, but it also persuades customers to view a stop for a break while driving as an amenity rather than a hassle.

REPORT COVERAGE

This market study includes a thorough analysis of the concession catering market's overall growth prospects on a global and regional level. The industry as well as the primary market trends and the impact of the coronavirus, are covered in detail in the research. It also illuminates the thorough competitive environment of the global industry. The research also includes a dashboard overview of the top organisations, including their effective marketing approaches, market share, and most recent advancements in both historical and contemporary contexts. The research offers a thorough analysis of the market by focusing on data regarding many factors, such as drivers, constraints, opportunities, and threats. Before making an investment, stakeholders can use this knowledge to make wise judgments.