Be it international or domestic, the increasing number of individuals preferring air travel remains a key factor influencing the growth of the in-flight catering market, given the . Moreover, different types of in-flight catering services offered in airlines are attracting new businesses across the globe which has made it compelling for in-flight catering service providers to offer high quality and timely services. That said, in-flight catering service providers are investing in technologies to ensure smooth in-flight catering operations and produce meal packages for a large bulk of passengers.
Demand for in-flight catering continues to remain concentrated in the European countries on back of increasing number of individuals travelling to Europe by air either for business or tourism. This factor has a dual complementing advantage as it has driven growth of aviation industry in Europe that in turn is influencing the use of in-flight catering, promoting growth of in-flight catering market in Europe. Furthermore, the growing international tourism has also impacted growth of aviation industry in emerging economies of Asia Pacific excluding Japan (APEJ), making it a lucrative market for in-flight catering services.
Many such insights have been covered in a new research report by Fact.MR that projects the in-flight catering market to expand at a CAGR 5.3% of in terms of value during the period of forecast, 2016. In combination with increasing number of passengers preferring air travel, the rising demand for quality and hygienic main courses, breakfast and beverages have propelled the growth of the in-flight catering market during the period of forecast.
In-Flight Catering Market: Main Course to Become Heavy; Beverages to Fizz Up
In-flight catering market growth is largely pushed by the increasing demand for main courses by passengers on-board. One of the main reason for high main course demand is the growing traffic in long-haul flights that have remained instrumental in fuelling demand for in-flight catering services on a large scale. In long haul flights, airlines are providing three course meals with beverages and salads offered as complementary dishes. This factor has significantly raised the demand for main courses, given their packaged benefits.
Albeit at a low revenue base as compared to main courses, beverages are expected to witness substantial demand among customers, particularly millennials and kids. This aspect coupled with increasing number of millennials travelling via air route has pushed the consumption of beverages in airlines, in turn spearheading the in-flight catering market during the period of forecast.
In-Flight Catering Market: Food Innovations to Present Lucrative Opportunities Across Regional Markets
Airlines use in-flight catering services to improve the in-flight experience of their passengers. Leading airlines across the globe are implementing advanced technologies in order to better their in-flight catering services, while adding innovation in food products as per cuisine preferences of consumers. In addition, they are following a unique trend of offering regional as well as continental meal options to their passengers, which helps satisfy specific meal requests of passengers, thus increasing passenger satisfaction levels. Furthermore, majority of airline caterers and in-flight catering service providers in the market are improving their supply chain management (SCM) in order to achieve high quality products along with cost-effectiveness in their in-flight catering operations. That said, increasing investments by famous food brands are expected to take this trend to the next level by offering famous food products to the air passengers popular among the airline business across the globe.
Moreover, the trend of implementing advanced technology in catering services offered on flights such as use of different types of smart gadgets for ordering food in flights thus increasing the convenience quotient of passengers has significantly fuelled the growth of in-flight catering market since recent times. As a consequence of advancements and improvements in modern in-flight catering services, leading participants in the in-flight catering market are focusing on channeling their strategies from a technological development standpoint with a view to expand their business reach.
In-Flight Catering Market: Growing Number of International and Domestic Air Passengers Boosting Momentum
According to the International Air Transport Association (IATA), the international and domestic air traffic across the global aviation industry has witnessed a significant surge since the past few years that has led to increased operational profits and overall net profits of airlines. Moreover, the increasing number of individuals opting for air travel is expected to boost the demand for in-flight catering services, in turn fuelling the growth of the in-flight catering market during the period of forecast. According to analysis of International Air Transport Association (IATA), more than seven billion passengers are expected to opt for air travel by end of 2036, with a 3.6 percent year-on-year growth. That said, in-flight catering service providers are focusing on providing better service quality to customers in in order to attract more passengers from a business development standpoint. This factor is expected to fuel demand for various in-flight catering services, consequently driving the growth of the in-flight catering market during the period of assessment.
Note: The insights mentioned here are of the respective analysts, and do not reflect the position of Fact.MR
An insightful report published recently by Fact.MR exerts an exhaustive study on the in-flight catering market, which can be leveraged by the readers to sustain their competitiveness in the in-flight catering market. Clients can benefit from the information provided in the report for enhancing their profit margins by attracting potential customer, on whom intelligence has been offered in detail.
The in-flight catering market is foreseen by the report to record a steady 5.3% CAGR during the period of forecast (2017-2026). By delivering estimations on the competition intensity attractiveness related to in-flight catering market, the report further enables the clients to better understand the competition and devise their business direction accordingly.
In-flight catering is an advanced, skill and quality-oriented technology developed to provide good-quality, healthy meals, including main course, breakfast, beverages, etc., to passengers as well as crew members, which is different from the normal food catering services offered in a restaurant or a cafe. In-flight catering services mainly focus on serving fresh food while emphasizing on maintaining hygiene in order to offer good in-flight experience to the passengers, which are well-planned according to the factors like flight time schedule, and management of trolleys.
In-Flight Catering Market: Intricate Assessment on Imperative Dynamics
The report on the in-flight catering market propounds intricate assessment, along with accurate forecast, on the in-flight catering market for the period between 2017 and 2026. An exhaustive coverage on lucrative regions for the in-flight catering market has been engulfed by the report. This report is an authentic intelligence source regarding data on recent dynamics, ongoing industry trends, technological developments & advancements, and product innovations observed in the in-flight catering market.
With the increasing number of passengers traveling by air and emerging airlines, the global in-flight catering market is expected to witness rapid growth during the period 2017-2026. Higher potential for growth and opportunities in the variety of in-flight catering services offered in different airlines are attracting many new businesses in the global market.
The usual in-flight catering services offered in the global market vary depending upon several factors such as offering types, service types, airline category, and provider types, which are also among the main segments of the global in-flight catering market. Offering types of in-flight catering services like main courses, breakfast, starter & platters, desserts, and beverages, are common, among which main courses are expected to gain more demands in the future. Among the premium services and economy services offered in flight, economy catering services are more popular.
Full-service carriers, low-cost carriers, and charter/private carriers are the categories of airlines offering in-flight catering services, which are led by the low-cost carrier airlines in the global market. Culinary only providers, culinary and on-board supply providers, and complete solution providers being the main types of providers of in-flight catering services, among which culinary only providers are expected to gain an edge in the global market.
In-Flight Catering Market: In-Depth Study on Market Segments
Weighted chapters on the segmentation analysis in the report offer in-depth study and insights on all the market segments incorporated. The in-flight catering market has been categorized into five segments, viz., offering type, provider type, service type, airline category, and region. Geographically, the in-flight catering market has been branched into Latin America, Japan, Middle East & Africa (MEA), Europe, Asia-Pacific excluding Japan (APEJ), and North America.
Precise market forecasts and estimations have been offered on all the aforementioned segments, along with a detailed assessment on key dynamics affecting their momentum during the period of forecast. These chapters are imperative for the report readers as they can better understand latent opportunities and key remunerative regions for growth of their business in the in-flight catering market. Key market segments elucidated in the report are systematically illustrated with the help of a taxonomy table.
In-Flight Catering Market: Competitor Landscape Study
The report incorporates a weighted chapter on competition landscape of the in-flight catering market, which quantifies revenue share of prominent stakeholders in the in-flight catering market. This concluding chapter of the report provides assessment on the key companies underpinning growth of the in-flight catering market, along with insights on these market players in detail. The report further offers an elaborated analysis on the market players elucidated in the report, which includes intelligence with regard to their company overview, recent & impending developments, key financials, and product overview.
A SWOT analysis is delivered on the market participants profiled, which illuminates the strengths, weaknesses, opportunities and threats to these players in the in-flight catering market over the upcoming years. Additionally, the report renders intelligence on the expansion strategies employed by the in-flight catering market participants, such as new product developments, mergers & acquisitions, collaborations, and partnerships between them. The scope of the report is to deliver its readers with authentic knowledge as well as accurate insights on the in-flight catering market. This will further enable the report readers to make better impactful plans and fact-based decisions for the businesses.
A robust research approach has been adhered by the analysts at Fact.MR for contemplating key industry dynamics, which in turn has enabled offering a precise and an authentic market intelligence. Intrinsic amalgamation of primary as well as secondary research has been used by the analysts for reaching at the estimates and forecast on the in-flight catering market.
All the market estimations and forecast delivered have been verified via an exhaustive primary research, which involves comprehensive interviews with prominent market participants and leading industry experts. These brief primary interviews aid validation of the information procured, which in turn facilitates evaluation of the industry estimations, and insights.
Fact.MR offers custom research services that help clients to get specific research solutions
We are committed towards customer satisfaction and quality service.