The rising number of international and domestic travelling along with low cost emerging flight service are some of the prime factor fueling demand for the global in-flight catering market. For example, as per domestic air traffic reports, in India passengers carried by domestic airlines during January 2017 were 95.79 lakhs as against 76.55 lakhs during previous year (2016), thereby witnessing growth of 25.13 %.In addition, increasing affordable air travelling and consumer spending on affordable travelling is propelling demand for the global In-flight catering market in developing and developed economies.
The in-flight service providers are looking forward to invest in the technologies that help in providing meals to large number of passengers, easily. However, several companies have dropped out food service facilities for the consumer at short hauls flight or domestic flights. Furthermore, the companies are also taking initiative to provide quality food service to the consumers in order to boost demand for the global in-flight catering market in the coming years.
As per report, the global in-flight catering market is likely to register steady growth during the course of forecast period from 2017 to 2026. The market is expected to register robust CAGR of 5.3%. The overall revenue obtained by the global in-flight catering market is US$ 28,262.8 million.
Economy Class Segment to Dominate Global In-Flight Catering Market Due to Affordable Government Policy
The economy class segment is expected to gain maximum market share in the global in-flight catering market due to affordable pricing of economic class air tickets. The government of several countries is introducing consumer friendly policy to drive growth of the aviation industry. For instance, government of India introduced several scheme to make air ticket affordable for the general population. The policy is further aimed to provide air ticket affordable and widespread and this further leads to economic growth, air infrastructure growth in various region, and this will further propel Job opportunities in India.
Europe to Dominate Global In-flight Catering Market owing to Tourism Growth
From Geographical Point of View, Europe is likely to dominate global in-flight catering market due to growing number of population travelling for tourism and business in the European region. This has further resulted in the growth in the aviation industry in various regions. The various companies of In-flight catering is focusing towards mergers and collaboration and partnership. in the meantime, the growing aviation sector due to growing international travelling in APEJ, majorly in India and China is other driving factor supporting growth of this market in the coming years. Additionally, China is expected to witness second largest source of business level in United States.
The key players operating in the global in-flight catering market are Emirates Flight Catering, SAAC Ltd., Newrest Catering, Gate Gourmet and Abby's Aircraft Catering Service. The manufacturing are focusing toward mergers and collaborating in order to gain geographical outreach. The key players are also focusing towards investment in technology to serve large number of passengers in the flight.
Global In-Flight Catering Market- Overview
Expansion in global aircraft fleet, increasing number of air travels, and the emergence of low-cost airlines are some of the factors impacting the in-flight catering business in a positive way. In-flight catering service providers are focusing on a variety of foods, changing preferences of customers. Passengers are demanding more nutritious and high quality meal. Most of the airlines are using third-party caterers to provide high quality and affordable food to the passengers.
However, most of the airlines have dropped in-flight catering services, especially on short and mid-range flights. Hence, in-flight catering service providers are targeting long-haul flights. Food safety is also the major concern of in-flight catering service providers. In-flight catering companies are adopting various sanitation and safety measures to maintain quality and hygiene of the food served in the flight. In-flight catering businesses are shifting from free service offering model to a revenue model due to the shift from complimentary meals to buy-on-board meals.
Global In-Flight Catering Market- Research Methodology
The report on the global in-flight catering market provides detailed information and forecast on the global market as well as regional market. The top-down and bottom-up approach has been used to derive at the estimated market size, revenue, CAGR, etc. of the global in-flight catering market. The report also offers key insights on various trends, factors hindering market growth, drivers, and opportunities in the market. The primary and secondary research helped in identifying opportunities gather information on all the major factors in the market. Interview of market experts was also conducted to get more details on the future growth, the opinions provided were crosschecked with the valid data sources.
The study includes market attractiveness analysis Porter’s five force analysis, and SWOT analysis. The research report comprises estimated value and volume, and a year-on-year growth of the global and regional market. The study also focuses on the absolute dollar opportunity in the global in-flight catering market to analyze business opportunity for the key players and new companies entering the in-flight catering business.
The report also offers information on the key players in the global in-flight catering market. The report focuses on key parameters such as financial overview, product portfolio, new launches, key developments, company overview, and long-term and short-term strategies adopted by companies. The report also provides a clear picture of current market scenario, regulations, micro and macro-economic factors, and technological advancements in the global in-flight catering market.
Global In-Flight Catering Market- Market Segments
The global in-flight catering market is divided into offering type, service type, airline category, provider type, and region. Based on offering type, the market segments includes main courses, breakfast, starter & platters, desserts, and beverages.
On the basis of service type, the market is segmented into premium service, and economic service. Based on airline category, the market includes full service carrier, low cost carrier, and charter/private carriers.
Based on provider type, the segment consists culinary only providers, culinary and on-board supplies providers, and complete solution providers.
Geographically, the global in-flight catering market is segmented into the Asia Pacific Excluding Japan (APEJ), Latin America, Japan, Europe, North America, and the Middle East and Africa (MEA).
The global in-flight catering market report has covered all the key players operating in the market such as Abby's Aircraft Catering Service, Air Culinaire Worldwide, Air Fayre, Air Gourmet, DNATA, Do & Co, Emirates Flight Catering, Flying Food Group, Gate Gourmet, Journey Group Pls., LSG Sky Chefs, Newrest Catering, SAAC Ltd., SATS, and UpperSky Catering.