In-Flight Catering Services Global Market Report 2023
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.
New York, March 08, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "In-Flight Catering Services Global Market Report 2023" - https://www.reportlinker.com/p06318566/?utm_source=GNW
The global in-flight catering services market grew from $15.68 billion in 2022 to $16.93 billion in 2023 at a compound annual growth rate (CAGR) of 8.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The in-flight catering services market is expected to grow to $21.17 billion in 2027 at a CAGR of 5.7%.
The in-flight catering services market includes revenues earned by entities by providing flight dine food services, meal services, raw material handling services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included
The in-flight catering services 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.
North America was the largest region in the in-flight catering services market in 2022. 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.
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.
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.
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.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The in-flight catering services market research report is one of a series of new reports that provides in-flight catering services market statistics, including in-flight catering services industry global market size, regional shares, competitors with an in-flight catering services market share, detailed in-flight catering services market segments, market trends and opportunities, and any further data you may need to thrive in the in-flight catering services industry. This in-flight catering services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.
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