The market for in-flight catering is valued at US$17.8 billion in 2023, and by the end of 2033, it is expected to be worth US$30.2 billion. Over the next 10 years, the in-flight catering market is anticipated to grow at a consistent 5.4% CAGR.
The demand for in-flight catering is anticipated to increase significantly over the next few years due to a combination of reasons including an increase in air travel and reduced airfares. Throughout the projection period, it is anticipated that the introduction of lengthy non-stop flights around the globe and the increased number of passengers using these flights will favor market growth.
For more insights into the Market, Request a Sample of this Report:
https://www.factmr.com/connectus/sample?flag=S&rep_id=945?SP
Key Takeaways:
- Demand for main course foods segment is expected to rise as many international flights are long-haul flights.
- In terms of offering type, the main course in-flight catering segment is likely to grow at a CAGR of 5% during the assessment period.
- Demand for in-flight catering services market in low-cost carriers is anticipated to remain lucrative
- The U.K. is expected to be a key market in Europe owing to presence of leading players such as British Airways and EasyJet.
- India in-flight catering services market is expected to grow at a steady pace owing to popularity of air travel among Indian passengers.
Competitive Landscape:
Prime in-flight catering suppliers are focusing on expanding their business scope through collaborations and partnerships with various airlines across the world.
- In August 2022, Dnata, an Emirati airport services company announced the extension of its partnership with GOL Airlines, a Brazilian low-cost carrier to offer better cargo handling, catering, and baggage management services.
- In September 2022, Saudi Airlines Catering Co. (SACC), a provider of in-flight catering, retail, and other services announced its partnership with low-cost carrier Flynas to provide inflight services for 4 years at a cost of around US$ 64 million. SACC will not only assist with catering but is also expected to assist the low-cost carrier with its logistics operations.
Key Companies Profiled:
- Emirates Group
- Saudia (Saudi Arabian Airlines)
- LSG Sky Chefs Inc.
- Deutsche Lufthansa AG
- Universal Weather and Aviation Inc.
- Dnata
- Newrest First Catering Ltd.
- Flying Food Group
- SATS Ltd.
- HNA Group Co. Ltd.
- Journey Group Plc.
- Do & Co. AG
Growth Drivers:
- Growing preference for air travel as compared to other modes of travel, especially in developing countries will create opportunities for in-flight catering service providers during the forecast period.
- Resumption of business travel and long-haul international flights will provide momentum to market.
- Use of simple yet innovative technology that allows passengers to browse menu and order food & beverages from their smartphones.
- Availability of customized food such as organic, Halal, vegan as per customer sensibilities is likely to provide a boost to the market.
Restraints:
- In-flight catering companies will continue to witness low demand for their services in 2022 and 2023 as the airline industry is yet to recover from the restrictions imposed in countries such as UAE, Russia, and Ukraine.
Key Segments of In-Flight Catering Industry Research:
· By Offering Type:
-
Main Course
-
Beverages
-
Breakfast
-
Starters & Platters
-
Desserts
-
Bakery & Confectionery
· By Flight Type:
-
Full Service Carriers
-
Low-cost Carriers
· By Airline Class:
-
Economy
-
Business
-
First Class
· By Provider:
-
In-Flight Culinary Only Providers
-
In-Flight Culinary & On-Board Supplies Providers
-
In-Flight Complete Solution Providers
· By Region:
-
North America
-
Latin America
-
Europe
-
APAC
-
MEA
For in-depth competitive analysis, Buy Now:
https://www.factmr.com/checkout/945
Key Questions Covered in the In-flight Catering Services Market:
- What is the projected value of the in-flight catering services market in 2023?
- At what rate will the global in-flight catering services market grow until 2033?
- Which are the factors hampering the growth in the in-flight catering services market?
- Which region is expected to lead in the global in-flight catering services market during 2023-2033?
- Which are the factors driving the in-flight catering services market during the forecast period?
- What is the expected market value of the in-flight catering services market during the forecast period?
