Report : In-flight Catering Service Market to 2025 - Global Analysis and Forecasts by Catering Service (In-house and Outsourced); Catering Types (Full Meal and Snacks); Aircraft Class (First Class, Business Class, Premium Economy, and Economy); and Flight Type (Full Service Carrier and Low Cost Carrier)
According to the new research report published by The Insight Partners, titled “In-Flight Catering Service Market - Global Analysis and Forecast to 2025”, The global in-flight catering service market 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.
In 2017, Europe accounted for the largest revenue share in the in-flight catering service market. The in-flight catering service market is well established in European countries followed by North American countries and Asian countries. The rising number of passengers in European countries is demanding increased number of aircrafts. The increasing procurement of aircrafts, is leading the airlines to offer outsourced or in-house catering service providers to introduce their full meals and snacks on the newer fleets. This is catalyzing the demand for in-flight catering service market in Europe.
Similar trend is also observed in North American countries. In addition, the North American mass has higher disposable income, which enables them to invest in luxuries and thus, the air travelers in the US, Canada and Mexico invest substantial amounts in on-board catering while travelling. Asia Pacific and Middle East and Africa regions are expected to be witness significant growth rate, owing to rising disposable income, increasing air travel, and growth of low cost airlines in the regions. Moreover, the introduction of services from various European and North American in-flight catering service provider in the Asia Pacific and Middle East and Africa region is also driving the market for in-flight catering service in these two regions.
Key findings of the study:
The recent changes in the commercial aviation market leading to its gradual recovery from the global financial crisis have had an ambivalent effect on in-flight catering providers. On the one hand, the rising number of aircraft in the industry has created a growing demand for on-board catering services. On the other hand, the way catering providers operate could not remain the same as it had been prior to 2008, since the pressure to cut down expenses has led airlines to re-think their business models. In the market where outsourcing seems to be a solution largely favored by airlines, catering providers had to come up with ways of adapting and re-qualifying in order to survive.
Key players in the market are taking measures to gain maximum benefit from on the opportunities in emerging markets. Some of the major players in the in–flight catering services market DO & CO Aktiengesellschaft, Emirates Flight Catering, SATS Ltd., Gategroup, Newrest Group, Deutsche Lufthansa AG, Flying Food Group LLC, Saudi Airlines Catering, ANA Catering Service Co. Ltd., and Egyptair In-flight Services among others are other major players operating in the in-flight catering service market.
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