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United States, Rockville MD, Aug. 12, 2022 (GLOBE NEWSWIRE) -- A recently published report by Fact.MR reveals that the global in-flight catering market is projected to grow at a modest CAGR of 6.5% during the forecast period (2021-2031), reaching US$ 13.7 Bn. Demand is accelerating on the back of surging air travel across various countries and continents in recent years.
Demand for in-flight catering continues to remain concentrated in the European countries on the back of the increasing number of individuals traveling to Europe by air either for business or tourism. This factor has a dual complementing advantage as it has driven the growth of the aviation industry in Europe that in turn is influencing the use of in-flight catering, promoting the growth of the in-flight catering market in Europe.
Historical performance of the market estimates that the industry registered a growth rate of 5% from 2016 to 2020. Amid the coronavirus pandemic, demand fell significantly, attributed to suspension of air traffic to prevent further infection spread. As per data published by the International Air Transport Association (IATA), international passenger traffic in 2020 was 75.6% below 2019 levels, while domestic travel fell by 48.8%.
With the competition among the airlines growing, they are opting for certain strategies to enhance the inflight dining experience. These strategies range from the process of ordering to food serving. Such developments may have a long-term effect on the prospects of the market in focus during the forecast period.
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Key Takeaways from the Market Study
- Global market for in-flight catering to be valued at US$ 7.3 Bn in 2021
- U.S to be the most opportunistic market for in-flight catering, generating 35% of global revenue
- Burgeoning tourism to encourage air travel across India, prompting in-flight catering services, expected to capture 30% of revenue
- U.K likely to contribute 1/3rd of the global revenue for in-flight catering services
- Low-cost carriers remain highly preferred among frequent flyers, projected to touch nearly US$ 10 Bn by 2031.
- In-flight catering for main course foods to accelerate at a CAGR of 5% from 2021-2031
Competitive Landscape
Some of the key players in the market include Gate Gourmet, Saudi Airlines Catering, LSG Group, Dnata, and Servair, Goddard Catering Group, Newrest Catering, Royal Holdings, Journey Group PLC, DO & CO, SATS Ltd, Emirates Flight Catering, and ANA Catering Service Co. Ltd. among others.
- In May 2021, Emirates Flight Catering owned Foodcraft collaborated with noon Daily, noon.com's dedicated grocery platform. The objective of this partnership was to enhance delivery outreach during the festival of Eid, for which the company released a new range of frozen ready-to-cook meals
- Since November 2021, Newrest First Catering has officially begun providing catering services to United Airlines in Houston, Texas. As part of its contract, the company provided catering and logistic solutions to 427 aircrafts flying domestic and international routes. In the future, the company expects to supply 15,000 meals per day, to a maximum of 500 flights
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With the incidence of the COVID-19 pandemic receding, the market for inflight catering is trying to recuperate the losses incurred through measures like product diversifications, and innovations. For instance, IndiGo airlines announced the availability of a selection of food and beverage for sale onboard, including vegetarian and non-vegetarian options, healthy juices, lemonade, aerated beverages, a wide choice of sugar-free health bars and drinks at competitive prices. A market share worth 30% is projected by Fact.MR for the Indian market.
Major players in the aviation industry are investing massively in the UK and taking advantage of the opportunities available in the country. For instance, in March 2020, Alpha LSG signed an agreement with Emirates to cater six daily flights out of London-Heathrow Airport to Dubai Airport.
The company already services the airline's regional operation in the UK from London to Gatwick, Stansted, Manchester, Birmingham, Newcastle, and Glasgow. Such developments are expected to help the growth of revenues from the country during the forecast period, accounting for 33% revenue.
Key Segments Covered
- Offering Type
- Main Course In-Flight Catering
- Beverages In-Flight Catering
- Breakfast In-Flight Catering
- Starters & Platters In-Flight Catering
- Desserts In-Flight Catering
- Service Type
- In-Flight Catering for Full Service Carriers
- In-Flight Catering for Low-Cost Carriers
- Airline Category
- Economy Class In-Flight Catering
- Business Class In-Flight Catering
- First Class In-Flight Catering
- Provider Type
- In-Flight Culinary Only Provider
- In-Flight Culinary & On-Board Supplies Provider
- In-Flight Complete Solution Provider
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More Insights Available
In its latest report, Fact.MR offers an unbiased analysis of the in-flight catering market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031.
Market statistics have been presented on the basis of offering type (main course, breakfast, starters & platters, desserts and beverages), airline category (full service carrier, economy carrier and charter/private carrier), service type (premium and economy) and provider type (culinary only provider, culinary & on-board supplies provider and complete solution provider) across seven regions (North America, Latin America, Europe, East Asia, South Asia, Oceania and Middle East & Africa).
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