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The global concession Food and Beverage (F&B) market is set to embark on a delectable journey, with expectations to grow from $28.31 billion in 2022 to $29.9 billion in 2023, boasting a savory compound annual growth rate (CAGR) of 5.6%. This growth is not a one-time treat; it’s projected to continue as the market is forecasted to reach $36.36 billion in 2027, serving up a CAGR of 5%. In this blog, we will explore the mouthwatering dynamics propelling this expansion, savor the key players in this space, and discover the trend of innovative technologies adding zest to the concession F&B market.

Indulging in Leisure and Tourism

The Rise of Leisure and Tourist Industries

The leisure and tourist industry sets the stage for the feast that is the concession F&B market’s growth. This industry encompasses services and businesses dedicated to providing leisure travelers and tourists with experiences that cater to their desires. Concession F&B establishments are essential components of the leisure and tourist sectors, offering food and beverage services to travelers and tourists at a wide array of destinations and attractions. The presence of concession F&B services elevates visitors’ satisfaction and overall enjoyment. In 2022, the travel and tourism sector’s contribution to the global GDP amounted to 7.6%, marking a 22% increase from 2021, as reported by the World Travel & Tourism Council (WTTC). This data underscores the substantial growth potential of the concession F&B market as the leisure and tourist industries continue to flourish.

Feasting with Giants

Major Players in the Concession F&B Market

As with any banquet, it’s the culinary creators who take center stage in the concession F&B market. These major players influence the industry’s trends, flavors, and innovations. Among the prominent figures in this realm are:

• Nestlé S.A.
• PepsiCo
• Bunge
• 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
• MarketPlace Development

These culinary titans continue to create delightful experiences in the concession F&B market, catering to the diverse tastes of their global clientele.

Tech Enhancements: A Recipe for Success

Innovative Technology in Concession F&B

Technology is serving up innovation in the concession F&B market, enhancing the dining experience for consumers. Leading companies are investing in groundbreaking technologies to maintain their competitive edge. For instance, in October 2022, Aramark introduced AI Self-Checkout and digital age verification at arena concessions. These technologies are set to elevate the customer experience, and they will be implemented in multiple locations, including Capital One Arena and the Canadian Tire Centre. Fans attending events at AT&T Center will also have the option to order cocktails through automated bars using facial recognition technology, simplifying the ordering process once registered with a valid government-issued ID.

A Buffet of Choices

Diverse Segmentation for Customized Experiences

Efficient segmentation allows the concession F&B market to cater to the diverse needs of consumers. These segmentation categories ensure that consumers have access to tailored solutions designed to meet specific requirements. Segmentation covers:

1. Type:
   • Food
   • Beverage
2. Cuisine:
   • American
   • European
   • Asian
   • African
   • Latin American
3. Application:
   • Airports
   • Motorways
   • Railways
   • City Sites and Leisure
   • Sports Arenas
   • Retail Outlets

Segmentation ensures that consumers across the globe can enjoy customized culinary experiences, whether they are grabbing a quick bite at the airport, savoring international flavors at a sports arena, or enjoying a leisurely meal at a city site.

Savoring the Globe: Asia-Pacific’s Culinary Influence

Leading the Global Flavor Parade

Asia-Pacific took the lead in the concession F&B market in 2022 and is expected to continue its culinary reign as the fastest-growing region in the forecast period. With Asia-Pacific at the helm, global consumers can expect to savor a rich tapestry of flavors and innovations in the world of concession F&B.

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The Concession F&B Global Market Report 2023  provides an overview of the concession F&B market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The concession F&B market forecast analyzes concession F&B market size, concession F&B market share, leading competitor and their market positions.

The Table Of Content For The Concession F&B Market Include:
1. Concession F&B Market Executive Summary
2. Concession F&B Market Segments
3. Concession F&B Market Size And Concession F&B Market Growth Rate
4. Key Concession F&B Market Trends
5. Major Concession F&B Market Drivers
……
25. Key Mergers And Acquisitions In The Concession F&B Market
26. Top Concession F&B Companies
27. Concession F&B Market Opportunities And Strategies
28. Concession F&B Market, Conclusions And Recommendations
29. Appendix

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