Wilmington, Delaware, United States, Aug. 25, 2022 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global in-flight catering services market is expected to expand at a CAGR of 5% during the forecast period, 2022 to 2031, as per an analysis by Transparency Market Research (TMR). Hence, the in-flight catering services market share is estimated to attract a value of US$ 27 Bn by 2031.
The report by TMR offers thorough assessment of major factors influencing the growth trajectory of the global in-flight catering services market including the growth drivers, restraints, trends, and challenges. In addition, it also enlightens readers on R&Ds and recent developments in in-flight catering services market.
Premium service and economy service are the two service types available in the in-flight catering services market. Of them, players are expected to gain significant opportunities for business from the economy service segment during the forecast period. Some of the key factors boosting the growth in the market segments include low-cost tableware and availability of customized meals in these services, note analysts of a TMR study on the global in-flight catering services market.
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In-flight Catering Services Market: Key Findings
- Due to improved spending power of people across developed and developing nations, there has been a rise in the corporate as well as leisure tourism, which is resulting into increased need for and introduction of new airlines in order to cater to rising demand for such services. In addition, the adoption of online meal reservation systems is being increasing worldwide, which in turn, is boosting the demand for catering services for airlines, notes a TMR study on the global in-flight catering services market.
- Players operating in the airline catering industry are focusing on the incorporation of next-gen in-flight food and beverage ordering systems so as to cater to the rising demand for airline catering services from across the globe. This aside, companies are increasing efforts to offer wholesome, nutritious, and high-quality meals to passengers. Such activities are likely to help them in gaining major share of the global in-flight catering services market in the forthcoming years.
- Players in the in-flight catering services market are focusing on the use of different strategies including regional expansions, partnerships, and collaborations in order to stay ahead of the competition. Such factors are prognosticated to result into the overall growth of the market in the years ahead.
In-flight Catering Services Market: Growth Boosters
- Surge in the number of airline passengers and non-stop and long-haul flights is fueling the demand opportunities in the global in-flight catering services market
- Increase in the demand for healthy and superior quality in-flight food is generating business opportunities for flight catering companies
In-flight Catering Services Market: Regional Analysis
- The Asia Pacific in-flight catering services market is expected to show growth at a notable CAGR during the forecast period owing to several important factors including improved spending power of people in emerging economies of the region
- Players are expected to attract sizable opportunities for business in Europe and North America during the forecast period due to a surge in the air travel as well as the existence of the leading airline catering companies in these regions
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In-flight Catering Services Market: Key Players
Some of the key players profiled in the report are:
- Frankenberg GmbH
- LSG Sky Chefs Inc.
- Dnata
- AAS Catering CO. Ltd.
- Flying Food Group
- Do & Co Aktiengesellschaft
- Newrest Group International S.A.S.
- SATS Ltd.
- LLC, Gate Gourmet
- Air Culinaire Worldwide, LLC
In-flight Catering Services Market Segmentation
- By Offering Type
- Main Course
- Breakfast
- Starters & Platters
- Desserts
- Beverages
- By Provider Type
- Culinary Only Providers
- Culinary & On-Board Supplies Providers
- Complete Solution Providers
- By Catering Services
- In house
- Outsource
- LCC
- Traditional Airlines
- Hotel
- Small Caterers
- By Service Type
- Premium Service
- Economy Service
- By Type of Airline
- Low Cost Carriers
- Traditional Airlines
- By Type of Flight
- Short Haul
- Long Haul
Regions Covered:
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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