The global in-flight catering service market accounted to US$17.96 Bn in 2017 and is expected to grow at a CAGR of 6.4% during the forecast period 2018 – 2025, to account to US$29.0 Bn by 2025.
Growth in the recent five years is primarily driven by two major factors, i.e. increase number of commercial air travel and partnership between airlines and hotels & chefs.
The global in-flight catering service market is experiencing a steady growth in the current scenario and is anticipated to rise in the coming years. The in-flight catering service market consists of some well-established players across the globe, which invest huge amounts in order to deliver the better quality foods & beverages to their customers. The airlines on the other hand, are procuring the increased number of aircrafts, to meet the growing air passengers across the globe, is also significantly driving the in-flight catering service market.
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In-flight Catering Service Market 2020-2027 Global Industry research report explores analysis of historical data along with size, share, growth, demand and revenue of the global In-flight Catering Service and estimates the future trend of market on the basis of this detailed study. The study shares market performance both in terms of volume and revenue and this factor which is useful & helpful to the business.
Top In-flight Catering Service Companies Analysis- ANA Catering Service Co. Ltd., Deutsche Lufthansa AG, DO & CO Aktiengesellschaft, Egyptair In-flight Services, Emirates Flight Catering, Flying Food Group LLC, Gategroup, Newrest Group, SATS Ltd., Saudi Airlines Catering
Rising Number of Air Passengers Globally
The pace of expansion of commercial aviation across the globe is significant in the recent times. The airlines in the developed countries as well as developing nations are ordering increased number of narrow body aircrafts, wide body aircrafts, business jets and regional jets in order to meet the constantly rising air travel demand. Owing to the continuously rising disposable income among the population in developing and developed regions across the globe, the demand for air travel is also increasing at similar pace. The commercial air traffic is anticipated to maintain a constant growth rate over the years, despite of different challenges such as rising aviation fuel costs, technical faults causing accidents and others. However, the barriers are succeeded by the increase in number of passengers across the globe. The low cost carriers (LCC) in the developed economies as well as developing economies are turning the revolution by offering low fare business models which is attracting the upper middle class and middle class society of developing nations. As per International Air Transport Association (IATA), the global commercial aviation passenger count in 2016 accounted for 3.8 Billion, and the same is expected to rise to 7.2 Billion by 2036.
Increasing Partnerships between Airlines and Hotels & Chefs
The global commercial aviation infrastructure has expanded significantly over the years, and in the current market, the industry is witnessing steep growth in terms of aircraft orders and deliveries. The growing number of aircraft deliveries to the commercial airlines is creating increased potential for in-flight catering service market. Various full service airlines and low cost carriers across the globe outsource several on-ground and on-board procedures and operations owing to implementation of cost cutting strategy. In-flight catering services is related to the viability of business models of both flagship carriers, and low cost carriers. Attributing to the fact that, on-board catering or on-board culinary services are one of the top priorities of the passengers while selecting the airlines, the carrier companies are partnering with top level hotels for outsourced catering services. Although the airlines are facing constant pressures on cost cutting, the quality of food and catering service remains highly important to the carriers, as the service directly contributes to the improved flight experience. This factor has raised the competition among the catering service providers, and the competition is expected to upsurge with the rise in competition among the airlines.
The “Global In-flight Catering Service Market Analysis to 2027” is a specialized and in-depth study of the technology, media and telecommunications industry with a special focus on the global market trend analysis. The report aims to provide an overview of In-flight Catering Service market with detailed market segmentation by component, deployment type, industry vertical, and geography. The global In-flight Catering Service market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading In-flight Catering Service market players and offers key trends and opportunities in the market.
Besides this, the report analyzes factors affecting In-flight Catering Service market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions considered in the Global In-flight Catering Service Market report.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global In-flight Catering Service market based on the type and application. It also provides market size and forecast till 2027 for overall In-flight Catering Service market with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America (SAM). The market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
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