The new report by Expert Market Research titled, ‘Global In-Flight Catering Services Market Growth, Size, Share, Demand, Price Trends, Report and Forecast 2020-2025’, gives an in-depth analysis of the global in-flight catering services market, assessing the market based on its segments like aircraft classes, flight types, food types, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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
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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
3. Asia Pacific
4. Latin America
5. Middle East and 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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