In-Flight Catering Service Market
In-Flight Catering Service Market is projected to register a CAGR of 9.33% and reach a value of USD 22290.7 Million by 2030.
In Flight catering services would witness impressive levels of growth in the market, as carriers will improve quality of food served on the planes. The increase in the quality of food and services provided would be directly driven by passenger demand to have healthier and better-quality food in their flight catering service market providers are now getting involved in providing sophisticated snacks, which resemble more of a mini meal, instead of only providing light snacks like that of nuts, pretzels etc.
Travelers are now like to have organic food, due to this airline has started obtaining its food and beverage items from local farms, bakeries and other nearby businesses, and prepares meals on each flight's day of departure. Air Canada has also devised a Multicuisine menu, which was developed through a partnership with the healthy eating program-Food with a Conscience. The program, initiated in 2009, adheres to low-sodium, additive and preservative-free standards, among other guidelines. Virgin America provides a thorough detail in their calorie counts and nutrition information on their in-flight menus.
Major Income of the aircraft catering services comes from full-service carriers and their slowing growth rates in comparison to the low-cost carriers would limit the growth in the aircraft catering services market. Commercial Aviation is a highly competitive business and carriers have to continuously stay ahead of the game in order to retain In-Flight Catering Service market share. The expectations of passengers flying in full fare airlines rising and carriers will continue to invest higher amounts in the sector.
In-Flight Catering Service Market – Competitive Analysis Outlook
International Inflight Catering Company, such as IGS and JETFINITY, are trying to expand their presence beyond corporate catering, into the aviation catering market, by working on integrated food solutions for premium culinary experience. These companies are also providing a fast-track 2-hour order service for last-minute charter customers. IGS Catering is now offering VIP catering service to VIP guests. Major companies like data, Gate Gourmet, SATS are now providing tailor made catering services to low-cost carriers as well. Significant numbers of small/medium scale players are now emerging from Asia Pacific countries. Offering premium quality products at comparative prices could drive the market share of these companies in the global in-flight catering service market by 2030.
In case of supplying small-medium size airports, the market is fairly fragment with presence of regional players. Demand for food with high quality and safety were the main reasons for airlines to prefer produce from the major manufacturers than the regional players. Further, these big players have increased their R&D spending exponentially to integrate the innovation with culinary excellence. This resulted in premium quality food for airline inflight catering services.
In-Flight Catering Service Market – Regional Analysis Outlook
In Flight Catering was historically not a big industry within the business jet market, but with increased expectations from the business jet passengers and rising concerns related to safety of food, In-Flight catering service segment will increasingly participate in the market.
North American commercial aviation market would remain to be the biggest and most profitable market in the in-flight catering services in the world. North America market is moving towards saturation in the forecasted period, due to this its growth rate would be quite lower than the regions like that of Asia Pacific, Latin America and Middle East & Africa. The Middle East and Africa in-flight catering market will be one of the fastest growing regions amongst all the regions of the world. The Middle East Aviation market is comparatively developing than the African market where the air connectivity is relatively poor as a whole. Most of the income in the aircraft catering services comes from full-service carriers and their relatively slow growth rates in the European and Asian market, in comparison to the low cost carriers would restrict the growth of the aircraft catering services market.
Asia Pacific region due to high growth in orders from the region, is the fastest growing region for this sector and will continue to be the fastest growing till the forecasted period. United States and China will continue to anchor the market by showing strong rates of growth
In-Flight Catering Service Market by Aircraft Class (First Class, Business Class, Premium Economy Class, and Economy Class), by Flight Type (Full Service and Low Cost), by Catering Type (Bakery & Confectionary, Meals, Beverages and others) and by Geography - Forecast To 2030 @https://www.marketresearchfuture.com/reports/in-flight-catering-service-market-1303
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