Published: Jul, 2019
In-flight Catering Services Market: Introduction
Transparency Market Research delivers key insights on the global in-flight catering services market. In terms of revenue, the global in-flight catering services market is estimated to expand at a CAGR of ~ 5% during the forecast period, owing to numerous factors, regarding which, TMR offers thorough insights and forecasts in the in-flight catering services market report.
In-flight catering plays a dominant role in in-flight services. The global in-flight catering services market is expected to witness rapid growth during the period of 2019-2027, with the increasing number of passengers traveling by air and also due to emerging airlines. Higher potential for growth and opportunities in the variety of in-flight catering services offered in different airlines are attracting many new businesses in the global market. Usual in-flight catering services offered in the global market vary depending on several factors such as offering, service, catering service, provider, airline, and flight, which are also among the main segments of the global in-flight catering services market.
In this market report, TMR predicts that, the demand for in-flight catering services is increasing in Asia Pacific. This is due to the growth in the population in the region, coupled with increasing number of emerging businesses and their partnerships with leading airlines. Increasing competition in different types of in-flight catering services and passenger demand for high-quality meals offered during a flight are among the leading reasons for the rapid expected growth of the global in-flight catering services market during the period of 2019-2027.
However, the high cost of food available in a flight is not affordable by all people, forcing many passengers not to opt for it. This factor is restraining the in-flight catering services market, globally. On the other hand, various airlines allow passengers to order their meals, snacks, and drinks from their smartphones. The practice of pre-ordering is already followed in a number of low-cost carriers. This has further reduced the wastage of food and the cost associated with it, which is creating an opportunity to drive the overall market in the near future.
Regions such as Asia Pacific, Europe, and North America offer tremendous growth opportunities for the growth of the in-flight catering services market. Many countries in these regions have better catering services at low cost. The European Union is expected to be the leading region in the global in-flight catering services market with the increasing number of passengers opting to travel by air. North America is expected to maintain a healthy CAGR, though it may experience a slight decline in demand as compared to Asia Pacific and Europe for in-flight catering services during the period of 2019-2027.
In-flight Catering Services Market: Prominent Regions
Asia Pacific is estimated to show prominent growth during the forecast years in the in-flight catering services market, owing to factors such as increasing population, reduction in flight prices, and rising personal income levels, coupled with the advent of emerging players in the region.
Currently, Europe dominates the in-flight catering services market, followed by North America. This is due to the presence of key manufacturers, increasing number of passengers traveling by air, and emerging airlines in these regions.
In-flight Catering Services Market: Key Players
Key players operating in the global in-flight catering services market include LSG Sky Chefs Inc., Frankenberg GmbH, AAS Catering CO. Ltd., Dnata, Do & Co Aktiengesellschaft, Flying Food Group, LLC, Gate Gourmet, Newrest Group International S.A.S, SATS Ltd., and Air Culinaire Worldwide, LLC.
In-flight Catering Services Market: Segmentation
In-flight Catering Services Market by Offering
- Main Course
- Starters & Platters
In-flight Catering Services Market by Provider
- Culinary Only Providers
- Culinary & On-Board Supplies Providers
- Complete Solution Providers
In-flight Catering Services Market by Catering Service Type
- Outsource (LCC and Traditional Airlines)
- Small Caterers
In-flight Catering Services Market by Service Type
- Premium Service
- Economic Service
In-flight Catering Services Market by Airline
- Low Cost Carriers
- Traditional Airlines
In-flight Catering Services Market by Flight
- Short Haul
- Long Haul
In-flight Catering Services Market by Region
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- Latin America
- Rest of Latin America
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