Stratview Research releases a new insightful report on the In-flight Catering Services Market, that makes efforts at providing deep insights into numerous factors that are vital to the growth of this industry.
Market Insights
According to the present report, the in-flight catering services market was estimated at USD 8.58 billion in 2021 and is likely to grow at a CAGR of 7.09% during 2022-2028 to reach USD 13.91 billion in 2028.
The prime factor that is contributing to the demand for in-flight catering services is the growing commercial aircraft fleet size.
What are in-flight catering services?
In-flight catering services involve serving edibles to passengers on board a commercial airline. These meals are usually served using an airline service trolley.
COVID-19 IMPACT
The global pandemic has negatively impacted the growth of the In-flight catering service market. Restriction on international and domestic flights has been the key factor behind the declining growth of the market during the Covid era.
Key players mentioned in the report are –
- Dnata
- Saudi Airlines Catering
- Gate Gourmet
- LSG Group
- Servair
- Journey Group PLC
- Newrest Catering
- SATS Ltd
- DO & CO.
Market Segments Analysis
Based on the aircraft seating class type, the market is segmented as economy class, business class, and first class. The economy class segment is estimated to maintain its dominance over the forecast period owing to the rising demand from emerging countries coupled with larger volumes of passengers preferring to travel in class.
Based on the source type, the market is segmented as in-house and outsource. The outsource segment accounted for the larger share of the market in 2021 and is expected to maintain its dominance, during the forecast period, owing to cost-efficiency without compromising the quality.
Based on the food type, the market is segmented as meals, bakery & confectionaries, beverages, and others. The meals segment accounted for the largest share of the market in 2021 and is expected to command its leading position, bolstered by the growing demand for long-haul flights.
In terms of regions, Asia-Pacific is estimated to be the largest market for in-flight catering services during the forecast period. The region’s market growth is attributed to the growing airline traffic and surging economic growth. China and India are major countries offering promising growth opportunities. Europe and North America are also likely to witness substantial growth opportunities over the forecast period.
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