The demand for in-flight food services has increased due to long-haul and non-stop flights, mostly due to leisure and business travel. The In-flight Catering Services market is growing due to the spike in demand for the product across various Airline classes worldwide.
According to a research report published by Spherical Insights & Consulting, the Global In-flight Catering Services Market Size to grow from USD 8.45 billion in 2021 to USD 40.2 billion by 2030 at a Compound Annual Growth Rate (CAGR) of 10.1%during the forecast period.
The COVID-19 🦠 pandemic has significantly impacted credit portfolios, leading to a surge in unemployment 📈 and economic disruption. Central banks 🏦 have responded proactively, injecting liquidity into the market through interest rate cuts and asset purchase programs. Managing risks across financial markets was already challenging due to geopolitical tensions, trade wars, and natural disasters. The pandemic forced risk officers to reassess old assumptions and models, highlighting the need for agile risk management.
🌐 Full-Service Carriers dominate the market, driven by international travel demand.
✈️ Large Airlines exhibit a higher CAGR, fueled by lower ticket prices and increased connectivity.
🍲 The Meal segment experiences a notable CAGR, driven by ready-to-eat options and catering services on long flights.
💺 The Economy segment sees robust growth, driven by rising demand for affordable air travel, particularly in APAC.
In this evolving landscape, risk management and technological advancements play crucial roles. Navigating uncertainties requires a strategic recalibration, embracing AI solutions for resilience and adaptability.
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Segmentation Analysis
📊 In 2021, the Full-Service Carrier segment soared high, commanding a dominant market share of 39.1% and impressive revenues of $3.30 billion. ✈️ This segment’s supremacy is attributed to its focus on long-haul and international flights, aligning perfectly with the surging popularity of global travel.
🌐 Large Airlines took a substantial slice of the market pie in 2021, claiming a noteworthy share of 34.9% and generating revenues of $2.94 billion. 🚀 The major airline market’s rapid expansion, fueled by falling ticket prices and increased connectivity, solidifies the Large Airlines segment’s prominence.
🍲 The Meal segment tantalized taste buds and market shares alike in 2021, capturing a significant 27.0% share and raking in revenues of $2.28 billion. 🥘 The introduction of ready-to-eat meals and heightened demand for catering services on lengthy flights were pivotal growth factors. In-flight catering providers are diversifying to cater to travelers from diverse cultural backgrounds.
💺 The Economy segment claimed the lion’s share in 2021, boasting a commanding 40.3% market share and revenues totaling $3.40 billion. 🌍 With consumers expressing a heightened desire for short- to medium-distance economy class travel, especially in the burgeoning APAC region, the Economy segment’s expansion is on an upward trajectory. The availability of affordable lunch options is poised to further drive this segment’s growth.
Major listed companies:
- ANA Catering Services Co. Ltd.
- DNATA
- DO & CO.
- Emirates Flight Catering
- Flying Food Group, LLC
- Gate Group (Gate gourmet)
- LSG Lufthansa Service Holdings AG
- Newrest International Group
- ATS Ltd.
- Servair SA
- Other
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Recent Developments
- In March 2022 – To oversee EasyJet’s on-board catering services, DNATA teamed with the airline. The alliance is advantageous to the business because DNATA will oversee the catering for airlines throughout the airline’s extensive worldwide networkSATS Ltd. In
Market segmentation:
This study forecasts global, regional, and country revenue from 2021 to 2030. Spherical Insights has segmented the global In-flight Catering Services market based on the below-mentioned segments:
Global In-flight Catering Services Market, By Flight Type
- Full-Service Carrier
- Low-Cost Carrier
- Other
Global In-flight Catering Services Market, By Product Type
- Large Airlines
- Medium Airlines
- Small Airlines
By Regional
sia Pacific is estimated to account for the highest market share in 2021.
The Global In-flight Catering Services Market has been segmented into five major regions: North America, Europe, Asia-Pacific, South America, The Middle East and Africa. Growth in foreign travel and tourism, growing urbanization, a rising level of living to go along with aspirational travel, and a comeback in discretionary spending are all factors that contribute to regional growth. Additionally, there will likely be major expansion potential for in-flight catering providers due to the region’s growing number of airline operators. Europe to hold a higher CAGR during the forecast period.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global commercial aircraft disassembly, dismantling and recycling along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
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Spherical Insights database assists the clients by providing in-depth information in crucial business decisions. Spherical Insights offers significant facts and figures across various industries namely Healthcare, IT & Telecom, Chemicals & Materials, Semiconductor & Electronics, Energy, Pharmaceutical, Consumer Goods & Services, Food & Beverages. Our company provides an exhaustive and comprehensive understanding of the business environment.
The Global In-flight Catering Services Market size research report aims to answer the
Following Key Questions:
I. What are the main products/services offered in the market and how are they evolving to meet changing consumer demands?
II. What are the key technological advances and innovations impacting the market and how will they affect the competitive landscape?
III. What are the key distribution channels and marketing strategies market players employ to effectively reach their target audience?
IV. What are the price trends in the market, and how do prices change across different product segments and geographies?
V. How will changing demographic patterns, such as age groups and income levels, affect consumer behaviour and market demand?
VI. What are the key cost factors and factors that influence the profitability of companies in theGlobal In-flight Catering Services Market?
VII. How will sustainability and environmental considerations affect consumer preferences and market growth in this sector?
VIII. What are the investment opportunities and challenges for new entrants and investors looking to enter the market?
IX. How do government policies and regulations impact market dynamics and shape industry strategies?
X. What are the current supply chain trends and challenges in the market, and how do they affect product availability and pricing?
XI. What are the levels of customer satisfaction and loyalty within the market, and how do market participants differentiate in terms of service quality?
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