Global In-Flight Catering Services Market
Dublin, Jan. 23, 2023 (GLOBE NEWSWIRE) -- The "In-Flight Catering Services Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.
This report provides the strategists, marketers and senior management with the critical information they need to assess the global in-flight catering services market.
This report focuses on in-flight catering services market which is experiencing strong growth. The report gives a guide to the in-flight catering services market which will be shaping and changing our lives over the next ten years and beyond, including the markets response to the challenge of the global pandemic.
The global in-flight catering services market is expected to grow from $14.57 billion in 2021 to $15.85 billion in 2022 at a compound annual growth rate (CAGR) of 8.7%. The in-flight catering services market is expected to grow to $20.52 billion in 2026 at a CAGR of 6.7%.
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Major players in the in-flight catering services market are Gate Gourmet, LSG Group, Servair S.A., SATS Ltd, Journey Group Plc, ANA Catering Service Co. Ltd, Emirates Flight Catering, Flying Food Group, Newrest Group Services SAS, AAS Catering, Egypt Air In-Flight Services, KLM Catering Services Schiphol, Air Fayre, and Abby's Catering.
The in-flight catering service market consists of sales of food by entities (organizations, sole traders, and partnerships) that are used to feed passengers in flight with packaged food and beverages. Flight catering service refers to an airline meal, airline food, or in-flight meal. These catering services provide highly specialized skills, technology, and quality-oriented food catering for airline passengers. These meals are prepared by catering companies.
The major in-flight catering services are meals, bakery and confectionery, beverages, and other types. A meal refers to a meal served to passengers onboard a commercial airliner. These meals are prepared by specialist airline catering companies and served to passengers using an airline service trolley. The various flight types include full-service carriers, low-cost carriers that have aircraft seating classes such as economy class, business class, and first class. The different sources include in-house and outsourced.
North America was the largest region in the in-flight catering services market in 2021. The regions covered in the in-flight catering services report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Increased air traffic is expected to propel the growth of the in-flight catering services market. In recent years, the number of people who travel by plane has skyrocketed. This indicates that a large number of individuals can now afford to travel by plane. The changing lifestyle coupled with increasing disposable income has triggered the increase in air travel demand for leisure and business purposes.
In-flight catering has become important for travellers, especially for network carriers serving long distances. For instance, in November 2021, according to the Federal Aviation Administration, on a daily basis, the Air Traffic Organization (ATO) provides service to 2.9 million airline passengers in more than 45,000 flights across approximately 29 million square miles of airspace. Therefore, increasing air traffic is driving the growth of the in-flight catering services market.
Increasing investment is the key trend gaining popularity in the in-flight catering services market. Many companies operating in the in-flight catering services sector are focused on investments to meet customer demand. For instance, in June 2021, Newrest, a France-based company that provides in-flight catering services, signed a new inflight catering contract with an American airline in Atlanta. Through the contract, Newrest increases its capacity from 4,000 meals per day to 6,500 meals per day.
New in-flight catering standards from Newrest provide good quality food to passengers. Also, in March 2019, SATS, a Singapore-based in-flight catering service provider, announced a $25 million investment to reduce tech waste from airplane meals. The kitchen can now produce up to 60,000 meals a day, including in-flight catering services.
In October 2021, Newrest, a France-based catering provider, acquired Delight Air Catering for an undisclosed amount. With this acquisition, Newrest expands its business in Germany and would also build a strong network in in-flight catering services. Delight Air Catering is a Germany-based company that provides in-flight catering services.
The countries covered in the in-flight catering services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
No. of Pages
2022 - 2026
Estimated Market Value (USD) in 2022
Forecasted Market Value (USD) by 2026
Compound Annual Growth Rate
Key Topics Covered:
1. Executive Summary
2. In-Flight Catering Services Market Characteristics
3. In-Flight Catering Services Market Trends And Strategies
4. Impact Of COVID-19 On In-Flight Catering Services
5. In-Flight Catering Services Market Size And Growth
5.1. Global In-Flight Catering Services Historic Market, 2016-2021, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global In-Flight Catering Services Forecast Market, 2021-2026F, 2031F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. In-Flight Catering Services Market Segmentation
6.1. Global In-Flight Catering Services Market, Segmentation By Aircraft Seating Class, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
6.2. Global In-Flight Catering Services Market, Segmentation By Source, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
6.3. Global In-Flight Catering Services Market, Segmentation By Flight Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
Full Service Carriers
Low Cost Carriers
6.4. Global In-Flight Catering Services Market, Segmentation By Food Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
Bakery and confectionery
7. In-Flight Catering Services Market Regional And Country Analysis
7.1. Global In-Flight Catering Services Market, Split By Region, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
7.2. Global In-Flight Catering Services Market, Split By Country, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
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