September 04, 2020
According to the research report titled ‘In-flight Catering Services Market Size By Aircraft Seating Class, By Source, By Food Type, Industry Analysis Report, Regional Outlook, Application Development, Competitive Landscape & Forecast, 2020 – 2026’, available with Market Study Report LLC, global in-flight catering services market is expected to register considerable growth during 2020-2026.
Booming business tourism sector has augmented the demand for in-flight catering services, which in turn is propelling product demand. In-flight catering services plays a vital role in the aviation industry. The sensory abilities of passengers such as smell, taste, and sight are highly affected by low humidity as well as high air pressure during flights. High quality food helps in enhancing passenger experience. In fact, various airlines focus on advertising themselves through their respective in-flight food services, thus providing better quality food & beverage to air travelers, thereby augmenting the market growth.
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Although the COVID-19 pandemic has adversely affected the growth of the aerospace sector, it is expected to regain traction once the situation is under control. Thus, increasing number of air passengers will further fuel the market expansion.
In terms of aircraft seating class, the report states that first class segment is predicted to accounted for 14% market share by 2026. Inclination of first class passengers towards high quality catering services along with rising per capita income are positively influencing the segmental growth.
As per source type, the in-house segment is estimated to hold one-fourth market share by the end of the assessment period.
Moving on to food type, the report claims that the other segment, which consists of condiments, ice-creams, cheese, and fruits, is poised to amass revenues worth USD 1.7 billion by 2026.
Regionally, Middle East & Africa in-flight catering service industry is expected to cross USD 2.8 billion by the year 2026. Flourishing tourism industry along with rising air traffic are complementing the business outlook in the MEA.
Cathay Pacific Airways Ltd., Goddard Catering Group, ANA Catering Service Co. Ltd., Royal Holdings Co. Ltd., Emirates Flight Catering, DO & CO Aktiengesellschaft, SATS Ltd., Newrest Catering, Journey Group plc, Servair, The LSG Group, Gate Gourmet, Saudi Airlines Catering Co., and Dubai National Air Transport Association are the major companies operating in global in-flight catering services market.