The Concession F&B Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Concession F&B Global Market Report 2024, The concession f&b market size has grown strongly in recent years. It will grow from $29.9 billion in 2023 to $31.55 billion in 2024 at a compound annual growth rate (CAGR) of 5.5%. The growth in the historic period can be attributed to consumer demand for convenience, entertainment and leisure industry growth, event and venue infrastructure development, enhanced marketing strategies, regulation and licensing policies.

The concession f&b market size is expected to see strong growth in the next few years. It will grow to $38.37 billion in 2028 at a compound annual growth rate (CAGR) of 5.0%. The growth in the forecast period can be attributed to integration of entertainment and dining, expansion to non-traditional venues, focus on inclusive options, sustainability and eco-friendly initiatives, personalization and customization. Major trends in the forecast period include hybrid dining experiences, contactless transactions, virtual menu offerings, gourmet and premium selections, cultural and global fusion foods.

The rise of the leisure and tourist industries is expected to propel the growth of the concession F&B market going forward. The leisure and tourist industry encompasses businesses and services that cater to the needs and desires of leisure travelers and tourists. Concession F&B plays a vital role in the leisure and tourist industries by providing food and beverage services to travelers and tourists at various destinations and attractions. Concession F&B within the leisure and tourist industries is essential for enhancing visitors' satisfaction and overall enjoyment. For instance, in May 2023, according to the World Travel & Tourism Council (WTTC), a UK-based travel institution, the travel and tourism sector contributed 7.6% to the global GDP in 2022, an increase of 22% from 2021. Therefore, the rise of the leisure and tourist industries will drive the future concession F&B market.

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The concession f&b market covered in this report is segmented –
1) Concession F&B Market By Type: Food, Beverage
2) Concession F&B Market By Cuisine: American, European, Asian, African, Latin America
3) Concession F&B Market By Application: Airports, Motorways, Railways, City Sites And Leisure, Sports Arenas, Retail Outlets

Innovative technology is a key trend gaining popularity in the concession F&B market. Major companies operating in the concession F&B market are focused on developing innovative technologies to sustain their position in the market. For instance, in October 2022, Aramark, a US-based food company, introduced AI Self-Checkout and digital age verification at arena concessions. These technologies will be available in a new Drink Mkt at Capital One Arena and the Canadian Tire Centre's Drink Mkt and Walk Thru Bru locations. Additionally, fans at AT&T Center can order cocktails via automated bars using facial recognition technology once registered with a valid government-issued ID.

The concession f&b market report table of contents includes:

1. Executive Summary

2. Concession F&B Market Characteristics

3. Concession F&B Market Trends And Strategies

4. Concession F&B Market - Macro Economic Scenario

5. Global Concession F&B Market Size and Growth

.....

32. Global Concession F&B Market Competitive Benchmarking

33. Global Concession F&B Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Concession F&B Market

35. Concession F&B Market Future Outlook and Potential Analysis

36. Appendix

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