New Jersey, NJ, July 31, 2019 (GLOBE NEWSWIRE) -- Rise in the number of airline passengers, growth of the tourism and airlines industry coupled with emergence of novel concepts like retail on board and personal in-flight chefs are the factors that are driving the global in-flight catering market. The global in-flight catering market is expected to grow from USD 17.36 Billion in 2017 to USD 27.02 Billion by 2025, at a CAGR of 5.69% during the forecast period from 2018-2025, according to the new report published by Fior Markets.
In-flight catering is a service that provides the food that is served to passengers on board a commercial airliner. Specialist airline catering services prepare these meals and usually serve to passengers using an airline service trolley. It is one of the most vital service provided onboard. In-flight catering service is principally dependent on the health of the aviation sector. Meanwhile, with the customers becoming health conscious, the demand for healthy and nutritional food is increasing. In order to stand out in the highly competitive market, major airlines are focusing on improving the onboard food options. Technological advancements in the onboard food ordering system are also proving to be the major driving factor for the global in-food catering market.
Factors such as the surge in the number of airline passengers in the Asia Pacific region as well as consumer demand for the good quality onboard food are driving the global in-flight catering market. Whereas complicated logistics process, as well as high fuel that cuts into the airline’s margin, are anticipated to be the major restraining factors for the market growth.
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Key players operating in the global in-flight catering market are are UpperSky Catering, SAAC Ltd., SATS, Newrest Catering, Journey Group Pls., LSG Sky Chefs, Gate Gourmet, Emirates Flight Catering, Flying Food Group, Do & Co, Air Gourmet, DNATA, Air Fayre, Abby's Aircraft Catering Service, Air Culinaire Worldwide, AAS Catering Co., Ltd, ANA Catering Service Co., Ltd., Cathay Pacific Catering Services (H.K.) Ltd., Oberai Skychef, On Air Dining Ltd, and among others. In order to their enhance market position, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership.
- For instance, in 2016, On Air Dining Ltd announced the acquisition of Emily’s Inflight Food Services Ltd. This acquisition significantly strengthens On Air Dining’s position as one of the premium culinary concierge suppliers to the private and business aviation market For instance,
- North America region always has been an important market for the aviation and in-flight catering services industry. Thus to increase their foothold in the market the major players are increasingly focusing on acquiring the smaller competitors. For instance, DNATA in 2018, announced the acquisition of 21 Inflight Catering. The acquisition allows dnata to significantly expand its operations in the United States, further strengthening its global network of catering businesses.
Main course segment had a market value of USD 7.38 billion in 2017
Food offering segment divided into main courses, breakfast, starter & platters, desserts, and beverages. Main course segment emerged as the leader in the global in-flight catering services market with a USD 7.38 billion revenue in 2017. Beverages segment is also anticipated to grow at a healthy pace on account of wide variety and availability of onboard beverages offering.
Economic Service segment had a market value of USD 10.86 billion in 2017
The service type is divided into premium service and economic service. Economic service emerged as the largest segment with USD 10.86 billion revenue in 2017. This increased growth in the revenue can be attributed to the fact that a growing number of people are preferring to travel by the economy class. In economic service, the focus is more on providing affordable meals, beverages, and shelf-stable food.
Full-service carrier is also anticipated to attain a robust market share in 2018-2025
Airline type segment is categorized into a full-service carrier, low-cost carrier, and chartered flights. Low-cost carriers segment emerged as the leader in the global in-flight catering market with USD 7.25 billion revenue in 2017. Increasing consumer preference for the low cost carriers is the primary reason behind this increased market share.
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Complete solutions provider segment had a market value of USD 10.27 billion in 2017
Provider type is segmented into the culinary only provider, complete solutions provider. An increasing number of airlines are collaborating with in-flight catering service firms that provide the complete solution including menu design, execution, and delivery, the complete solutions provider segment emerged as the leading segment with USD 10.27 billion revenue in 2017.
Region Segment Analysis of the In-Flight Catering Market
- North America (U.S. , Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
Europe region emerged as the largest market for the in-flight catering with a 37.93% share of market revenue in 2017. Europe is the most popular tourist destination throughout the world. A huge number of people travel to and from Europe. Also, Europe is a major airlines hub. Thus on account of all these factors, Europe emerged as the dominant region in the global in-flight catering market. Asia Pacific region is anticipated to grow at an accelerated CAGR of 7.95% over the forecast period. Increase in per capita disposable income as well as the rapid growth of the aviation industry in the region are some of the reasons that are anticipated to propel this increased growth.
About the report:
The global in-flight catering market is analysed on the basis of value (USD Billion). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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