The global in-flight catering service market includes a number of key players. The players are ensuring optimal efficiency and constantly developing and offering new services and solutions to gain a competitive advantage and make a mark in the market.
Some of the leading players identified by MRFR are Air Culinaire Worldwide, LLC., SATS, Servair, Egypt Air In Flight Services, Gate Gourmet, and Goddard Catering, Emirates Flight Catering, dnata, Compass Group Rus, Do & Co, and others.
May 30th, 2019, the National Flag Carrier Turkish Airlines (THY) announced that it has awarded a 15-year catering service contract to DO & CO, an Austria-based firm.
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The global in-flight catering service market was studied and analyzed by the team of Market Research Future (MRFR) and a positive growth period was ascertained through the same. The report stated that the global in-flight catering service market is anticipated to grow at an annual compound rate of 5% during the forecast period between 2016 and 2021. One of the primary growth factors identified in the report was the increasing rate of air travels across the globe in recent years.
Some of the key driving factors behind the growth of the market are the increasing number of air travels, expanding global aircraft fleet, and an influx of low cost and cost-effective airline companies across developing nations. Additionally, the surging demand among customers for nutritious food options, even during travel time, is another key driver of the global market.
The global in-flight catering service market segmentation is done on the basis of the following dynamics: flight type, aircraft class, and catering type.
By aircraft class, the market includes business class, economy class, first class, and premium class. It was mentioned by MRFR that the economy class segment is projected to garner around USD 12 billion by the end of the forecast period to lead this market standings in the coming years as well. The economy class is respectively followed up by premium and business class aircrafts as the most profitable markets.
By flight type, the market divides into low cost and full-service types. The full-share carriers segment hold close to 80% of the market share under its name and is anticipated to continue its dominance over the forecast period.
By catering type, the market comprises meals, bakery & confectionary, beverages, and others. This market category was spearheaded by the meals segment with 50-55% of the shares under its belt. The segment is followed up by the bakery and confectionary and beverages segments.
The global in-flight catering service market is regionally distributed across Americas (Comprising both North and South America), Europe, Asia Pacific, and the Middle East & Africa.
The North American region holds the dominant positioning in the in-flight catering service market. The commercial aviation industry of North America is one of the biggest and garners considerable profit annually. However, the market is reported to be moving towards a saturation period in the coming years. This is expected significantly influence the growth of the market over the forecast period. The market growth in North America for in-flight catering service is expected to be lower than other regions like Asia Pacific, Latin America, and the Middle East & Africa.
The Middle East & Africa market for in-flight catering service is anticipated to be the fastest among all the mentioned regions. The Middle Eastern region edges past the African region in terms of development and expansion as the former region has a relatively poor air connectivity.
Elsewhere, in Asia and European regions, most of the income accrued in the aircraft catering services arrives from full-service carriers thereby causing both the area to gain low growth rate. Asia Pacific region is a key region in the global landscape and boasts massive potential in the aviation industry in the coming years. Both the US and Canada are two of the most lucrative countries in the world that are expected to continue garnering strong growth rates during the ongoing forecast period.
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Scope of Report
The market report for In-Flight Catering Service Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
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