A recent report published by Infinium Global Research on inflight catering service market provides in-depth analysis of segments and sub-segments in the global as well as regional inflight catering service market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional inflight catering service market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global inflight catering service market. According to the report, the global inflight catering service market is projected to grow at a CAGR of 5.71% over the forecast period of 2019-2025.
As the number of passengers traveling through aircraft is growing, the demand for quality inflight services including the food has also increased. This demand is the major reason for airlines to prefer catering from major manufacturers than the regional players. The service providers including Gate Gourmet GmbH, SATS Ltd., DO & CO Aktiengesellschaft, Flying Food Group, LLC., Journey Group Plc., Newrest Group Services and others are taking initiative to provide high-quality food service to the consumers in order to boost demand for the in-flight catering market. Various companies in the industry are focusing on mergers and collaboration and partnerships to generate more revenue.
The increase in the number of airline passengers is a major driving factor for the inflight catering service market. A large number of people are traveling through air for business purposes as well as for tourism. The inflight services offered by the airline companies provide better customer satisfaction, which in turn boosts the airline industry. Moreover, the low prices of flight tickets are expanding the demand for inflight catering. The fare prices have dropped significantly as the fuel prices have decreased, which attracts more passengers for air travel. Furthermore, the growing number of long-distance flights is supporting the growth of the inflight catering service market. The passengers in the long distance flights require the inflight services more than the short distance ones. However, the emergence of the onboard retailing and personal chefs is the major restraining factor for the growth of the inflight catering service market. Nevertheless, the growing preference for the pre-packed foods by the passengers is expected to offer lucrative opportunities for the key players in the inflight catering service market.
In terms of geography, Europe held the highest market share, dominating the global inflight catering service market. The dominance of the Europe market attributed to the growing tourism in the region. Moreover, the presence of the leading players in the region is expected to boost the growth of the inflight catering service market in Europe. While Asia Pacific inflight catering service market is expected to grow at the fastest rate owing to diverse consumer tastes and preferences.
The report on global inflight catering service market covers segments such as food type, airline type, and aircraft class. On the basis of food type, the sub-markets include meals, bakery and confectionery, beverages, and other food types. On the basis of airline type, the sub-markets include full service carriers, low-cost carriers, and hybrid and others. On the basis of aircraft class, the sub-markets include economy class, business class, and first class.
The report provides profiles of the companies in the market such as Gate Gourmet GmbH, LSG Lufthansa Service Holding AG, Emirates Group, SATS Ltd., DO & CO Aktiengesellschaft, Flying Food Group, LLC, Cathay Pacific Airways Limited, Dubai National Air Transport Association, Journey Group Plc, Newrest Group Services, and Other Companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of inflight catering service market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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