June 11, 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 grow substantially during 2020-2026.
Flourishing business tourism sector is a major factor driving the growth of in-flight catering services industry. Although the recent COVID-19 pandemic has majorly affected the aviation landscape, the airline industry is estimated to recover considerably as soon as the situation improves as passenger traffic will again surge, which in turn will fuel the market size.
Food plays a major role in the aviation industry. The sensory abilities of passengers such as sight, smell and taste are affected by low humidity and high air pressure in flight. Moreover, the movement of passengers within the aircraft is also limited. Superior quality food becomes vital in improving the passenger experience. Various airlines advertise themselves through their in-flight food services, and hence provide high-quality food & beverage to passengers on boards, thereby augmenting the market outlook.
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As per aircraft seating class, first-class segment is expected to hold 14% market share by the year 2026. Availability of high quality catering services for first class passengers and increasing disposable income are fueling the segmental share.
By source, in-house segment is predicted to account for one-fourth share of the overall in-flight catering services market by the end of the forecast period.
In terms of food type, the others segment, which includes ice-creams, condiments, cheese and fruits, is expected to generate revenues worth USD 1.7 billion by the year 2026.
From the regional point of view, in-flight catering services industry share in Middle East & Africa is predicted to surpass USD 2.8 billion by the year 2026. Increasing air traffic and booming tourism industry are swaying the business dynamics in MEA.
Cathay Pacific, Goddard Catering Group, ANA Catering Service Co. Ltd., Royal Holdings, Emirates Flight Catering, DO & Co., SATS Ltd., Newrest Catering, Journey Group PLC, Servair, LSG Group, Gate Gourmet, Saudi Airlines Catering and Dnata are the key participants in global in-flight catering services industry.