The global inflight catering market was valued at US$ 16.8 Billion in 2017, according to Inflight Catering Market Report, by Aircraft class (Economy class, Business class, and First class), by Food type (Meals, Bakery & Confectionary, Beverages, and Others), and by Region (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa).
The global inflight catering market is projected to reach US$ 28.03 Billion by 2026, exhibiting a CAGR of 6.2% during the forecast period (2018–2026). Increasing number of low cost airlines coupled with growing number of international travelers is fueling growth of the inflight catering market. According to World Travel & Tourism Council, 2018 report on global economic impact & issues, in 2017, travel & tourism’s contribution to world GDP was around 10.4%, which was grown from 10.2% in 2016. However, cynical consumer perception towards the freshness and cost of food that is being served during air travel is expected to restrain growth of the inflight catering market.
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Key Trends and Analysis of the Inflight Catering Market:
- Meals segment among the food type held the highest market share in 2017, in the global inflight catering market. This is owing to high demand from air travelers for meals due to long travel hours.
Key Takeaways of the Market:
- Europe held the dominant market share of 38% in 2017, in the global inflight catering market, owing to increasing number of people travelling to European countries. For instance, according to World Tourism Organization’s report on European Union Tourism Trends 2016, Europe maintained its leadership in the global tourism market and in 2017, it registered 8% higher growth compared to 2016 in EU tourism, exceeding the worldwide average.
- North America was one of the largest regions in the inflight catering market in 2017. This is owing to high number of inflight catering services companies such as 121-Inflight Catering, Chelsea Food Services, and other associations present in the region. For instance, International Flight Services Association headquartered in Atlanta, Georgia, is a global professional association, which was created to serve the needs and interests of airline and railway personnel, inflight and rail caterers and suppliers responsible for providing onboard services on regularly scheduled travel routes.
- Furthermore, key players are adopting different technological advancements to reduce the weight for inflight catering. Airlines in Canada discontinued the use of 48-ounce cans of juice, replacing them by Tetra-Brik packages to reduce the weight and volume. These are the major factors driving growth of the inflight catering market in the region.
- Major players operating in the global inflight catering market include SATS Ltd., Gate Gourmet, LSG Sky Chefs, DO & CO Aktiengesellschaft, NewrestInternational Group, Emirates Flight Catering, Flying Food Group, Journey Group plc, and DubaiNational Air Transport Association