Dublin, July 23, 2020 (GLOBE NEWSWIRE) -- The "Onboard Rail Catering Market - Growth, Trends, and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The onboard rail catering market is expected to exhibit a growth rate of more than 5% during the forecast period (2020-2025).
The improvement in service quality such as food, on time arrivals, availability, comfort, etc. is encouraging many passengers every year to take up the option of railway transport instead of road transport. The global rail passenger traffic increased from 2882.8 billion passenger kilometers in 2017 to 2949.39 billion passenger kilometers in 2018.
The rail catering services across the globe are also preparing seasonal menus to ensure the availability of fresh and hygienic food to passengers throughout the year. Deutsche Bahn started a campaign between April 2017 and 2018 where signature dishes of food bloggers were introduced on the onboard menu. Eurostar and Great Western Railways have also collaborated with chefs like Raymond Blanc and Mitch Tonks to design the onboard menu for passengers.
Key Market Trends
Growth in the number of passengers using rail catering services
Owing to the introduction of high-speed railways, metros and subway systems in many countries across the globe, many people are switching to rail transportation and this factor is leading to the growth of rail catering services market. Due to introduction of metros, static catering service market is on the rise. Many startups in emerging economies are taking advantage of the large data generated by the railway systems and innovations can be seen in spaces such as customer service management, payments, etc.
In 2019, Indian online payment platform Paytm saw the booking of 50,000 rail tickets daily. Catering companies are using information technology for robust feedback mechanism to improve the selection of raw materials, improvement of food quality. Use of RFID scanners is boosting the effectiveness of quality assessment programs by performing end to end tracking of meal from raw material form to consumption stage. This will ensure the availability of fresh quantity food in sufficient quantity.
People are also being provided with the option to choose from a variety of menus present onboard. Amtrak provides nearly 20 menus under traditional dining, flexible dining, Caf and Acela dining categories.
Asia Pacific is the fastest growing market
Asia-Pacific dominates the rail infrastructure market. The region is expected to witness the fastest growth rate during the forecast period. In the Asia-Pacific region, India is one of the largest and fastest growing market for railway infrastructure and service after China. India is expected to witness the fastest growth during the forecast period.
India is making investments in catering service and improving its rail transportation system. Owing to the growth in population, increased intercity commuting and trade, upcoming metro projects (13 operational, 6 under construction, 7 in planning stage and 8 in proposed stage) and extension of existing lines, the Indian rolling stock market is witnessing a steady growth.
As of 2019, India has 716 km of operational metro lines. Indian Government is also considering a bullet train between Mumbai and Ahmedabad (Mumbai Ahmedabad High Speed Rail Corridor). The government's Make in India initiative laid special emphasis on promoting development activities within the country. This, in turn, is expected to drive onboard rail catering market in India.
Competitive Landscape
The Onboard Rail Catering Market is a fragmented one with various national operators being the major players. The market is dominated by players such as Newrest, Indian Railway Catering And Tourism Corporation Limited (IRCTC), Deutsche Bahn, etc.
In April 2019, Newrest Wagons-Lits in Austria reported a rise of 76% in per passenger turnover, owing the success to MyPOS sales tool through which all employees can make sale onboard.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
Key Topics Covered:
1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 Catering Service
5.1.1 Mobile Catering
5.1.2 Static Catering
5.1.3 Other Catering Services
5.2 Mode Of Booking
5.2.1 Online
5.2.2 Offline
5.3 Commuting Distance
5.3.1 Metro/Subway
5.3.2 Intercity
5.3.3 Long range
5.4 Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Rest Of North America
5.4.2 Europe
5.4.2.1 Germany
5.4.2.2 United Kingdom
5.4.2.3 France
5.4.2.4 Rest of Europe
5.4.3 Asia-Pacific
5.4.3.1 India
5.4.3.2 China
5.4.3.3 Japan
5.4.3.4 South Korea
5.4.3.5 Rest of Asia-Pacific
5.4.4 Latin America
5.4.4.1 Mexico
5.4.4.2 Brazil
5.4.4.3 Argentina
5.4.4.4 Rest Of Latin America
5.4.5 Middle-East and Africa
5.4.5.1 United Arab Emirates
5.4.5.2 Saudi Arabia
5.4.5.3 Rest Of Middle-East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 IRCTC Limited
6.2.2 Newrest Group Services SAS
6.2.3 Great Western Railways (FirstGroup plc)
6.2.4 Eurostar
6.2.5 Deutsche Bahn AG
6.2.6 Amtrak
6.2.7 Swiss Federal Railways
6.2.8 Trenitalia
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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