The key highlights of the report include:
Market Overview (2015-2025)
1. Historical Market Size (2019): USD 18,746.9 million
2. Forecast CAGR (2020-2025): 3.7%
3. Forecast Market Size (2025): USD 23,259.3 million
The global in-flight catering services market is expected to be driven by the rise in the number of flight travellers. The rise in disposable incomes, especially in developing countries has increased the number of domestic and international travellers. Increasing global connectivity, tourism activities, and business events, coupled with long flight hauls, is fuelling the growth of the in-flight catering services market. Increased demand for high-quality, hygienic and nutritious in-flight food while travelling owing to the rising number of frequent flyers is further expected to propel the in-flight catering services market over the forecast period.
Industry Definition and Major Segments
In-flight catering service deals with the meals served to passengers onboard the airliner. These meals are prepared by catering companies. The in-flight catering services market can be classified based on aircraft type, flight type, food type, and major regions.
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Based on the aircraft class, the market is segmented into:
1. Economy class
By flight type, the market can be divided into:
1. Full Services
2. Low Cost
Based on the food type, the market is categorized into:
2. Bakery and Confectionery
The major regional markets of in-flight catering services are:
1 North America
1.1 United States of America
2.2 United Kingdom
3 Asia Pacific
4 Latin America
5 Middle East & Africa
5.1 Saudi Arabia
5.2 United Arab Emirates
5.4 South Africa
The meals segment is expected to be the dominant food type in the inflight catering service market during the forecast period, owing to the increased demand from the European and Asian airlines. This is due to an increase in the number of passengers and long duration air travels. The introduction of beverages like premium wines to lure the business and first-class passengers is also expected to influence the industry positively. Companies are introducing online platforms for the passengers to order food, which has made in-flight catering service convenient. Outsourced catering services are finding huge growth in the airline industry. Leading players in the in-flight catering industry are focusing on inorganic growth through M&A activities to sustain themselves for intense competition. The market has, however, been adversely affected by the COVID-19 pandemic, which has led to travel restrictions, with most of the airlines operating on limited schedules.
Key Market Players
The major players in the market are Cathay Pacific Airways Limited, The Emirates Group, Flying Food Group LLC, LSG Sky Chefs, Newrest Group International S.A.S, SATS Limited, and ANA Catering Service, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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