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In-flight Catering Services Market to Grow at a CAGR of 5% During 2019 – 2027

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In-flight Catering Services Market to Grow at a CAGR of 5% During 2019 – 2027

October 12
19:21 2021
In-flight Catering Services Market to Grow at a CAGR of 5% During 2019 - 2027
The overall growth of the market is likely to be driven by a consistent rise in the disposable income of people and the increasing use of technical improvements like the in-flight food and beverage ordering system.

Growing passenger demand for food services on board has resulted from a rise in the number of non-stop as well as long-haul flights, largely owing to a surge in business and leisure tourism activities. Airlines all around the world are setting a suitable pricing range for meals on board to distinguish themselves apart from their competitors. This is done to improve the entire passenger travel experience and, as a result, the in-flight experience. These factors are likely to support growth of the global in-flight catering services market in the years to come.

The overall growth of the market is likely to be driven by a consistent rise in the disposable income of people and the increasing use of technical improvements like the in-flight food and beverage ordering system. In the commercial aviation sector, customer retention is of paramount significance. Operators all over the world are working towards improving their client retention techniques in order to boost profit margins and assure consistent revenue production. Some of the major airlines are focusing on delivering customized services to their clients, like offering regional local cuisines on international flights. In addition, the trend of providing passengers with personalized and organic meals has proved advantageous for the industry participants in terms of increasing consumer satisfaction.

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Newrest Group Services SAS, LSG Sly Chefs, Servair, S.A., Flying Food Group, ANA Catering Service Co. Ltd. (ANAC), and Gate Gourmet (Gategroup Holding) are some of the companies in the global in-flight catering services market.

The global in-flight catering services market is likely to rise at a growth rate of 5% CAGR over the forecast period, from 2019 to 2027.

Rise in International Travel for Leisure and Business to Drive Growth of the Asia Pacific Market

In terms of region, the global in-flight catering services market is classified into the principal regions of Latin America, Middle East and Africa, Asia Pacific, Europe, and North America. It is expected that regional classifications would provide a better knowledge of the market dynamics at play at the regional level.

Asia Pacific is likely to dominate the market over the forecast period, from 2019 to 2027. A surge in overseas travel and tourism, as well as an increase in the middle-class population and a higher standard of life, are key factors in the expansion of the global in-flight catering services market. Furthermore, the region’s growing number of airline carriers is projected to generate substantial development possibilities for in-flight food suppliers.

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Over the forecast period, Europe is expected to grow at a significant rate. A rising number of legacy airlines are moving into the low-cost market in the area, which is likely to boost demand for onboard food services on low-cost flights. In addition to that, rising capacity of passenger spending for organic as well as healthy meals, and airline partnership with hands-on experience culinary specialists, are projected to offer significant development prospects in the near future. The launch of new destinations and routes and the expansion of aircraft fleets by the major operators are also expected to promote growth of the global in-flight catering services market.

Customer-centricity of the Airlines Sector to Shoot Up Demand for In-flight Catering Services in the Market

The customer-centricity of airlines is reflected in the rise of the global in-flight food services industry. Through their superior services, renowned airlines have gained the trust of regular flyers. Furthermore, the aviation business has evolved into customer-focused, sophisticated, and regulated industry. The significance of in-flight food services in providing value to customers’ experiences has fueled industry expansion. Airlines spend a lot of money educating flight attendants to deliver high-quality food services. Furthermore, airlines are devoting a significant amount of effort on determining the finest in-flight meal choice. As such, it is reasonable to assume that the global in-flight catering services market is likely to observe growth in the years to come.

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