Concession catering agreements are the one that normally include a service description or specific service levels which describe the catering offering and set quality levels. Concession caterers need to attract clients from among the masses of travellers and visitors moving through airports, railway stations and roadside stops on highways. Also, concession caterers make wide use of brands to attract clients and their top line is directly affected by traffic flows.
The concession catering market is usually linked to the travel industry (exposure to airports, motorways and railways) and, as a result, is more cyclical. Also, the market has gradually become more competitive in recent years as the key players diversify from historical strongholds, with a focus on airports segment. The concession catering business can be in-house or can be outsourced to a specialist catering firm. The three main segments of the market includes airport, motorways and railways.
The global concession catering market is likely to grow steadily in the coming years driven by declining oil prices, rising global GDP, increasing travel demand, improving air passenger and flight trends, rising middle class population and declining food prices. Key trends of the market includes positive macroeconomic world outlook, growth strongly driven by airport segment, expected consolidation of key players and culinary and technological innovations.
However, growth of the market can be hindered by several factors including exposure to unforeseen events, frequently changing consumer taste and preference, exposure to currency fluctuations, economic backdrop in Europe and raw material price fluctuations.
The report “Global Concession Catering Market: Industry Analysis & Outlook (2016-2020)” by Koncept Analytics provides an extensive research and detailed analysis of the present market along with future outlook. The report discusses the major growth drivers and challenges of the market, covering the North America and Europe regions along with the global market. The report profiles the key players of the market including Autogrill, SSP Group and Elior.