The In-Flight Catering Services Global Market Report 2023 by The Business Research Company, provides in-flight catering services market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s In-Flight Catering Services Global Market Report 2023, the market size grew from $15.68 billion in 2022 to $16.93 billion in 2023 at a compound annual growth rate (CAGR) of 8.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The market size of in-flight catering services is expected to grow to $21.17 billion in 2027 at a CAGR of 5.7%.
Increased air traffic is expected to propel the growth of the in-flight catering services market. In recent years, the number of people who travel by plane has skyrocketed. This indicates that a large number of individuals can now afford to travel by plane. The changing lifestyle coupled with increasing disposable income has triggered the increase in air travel demand for leisure and business purposes. In-flight catering has become important for travellers, especially for network carriers serving long distances.
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The in-flight catering services market is segmented:
1) By Aircraft Seating Class: Economy Class, Business Class, First Class
2) By Source: In-house, Outsource
3) By Flight Type: Full Service Carriers, Low Cost Carriers
4) By Food Type: Meal, Bakery and confectionery, Beverage, Other Types
Increasing investment is the key trend gaining popularity in the in-flight catering services market. Many companies operating in the in-flight catering services sector are focused on investments to meet customer demand. For instance, in June 2021, Newrest, a France-based company that provides in-flight catering services, signed a new inflight catering contract with an American airline in Atlanta. Through the contract, Newrest increases its capacity from 4,000 meals per day to 6,500 meals per day. New in-flight catering standards from Newrest provide good quality food to passengers.
The in-flight catering services market report table of contents includes:
1. Executive Summary
2. In-Flight Catering Services Market Characteristics
3. In-Flight Catering Services Market Trends And Strategies
4. In-Flight Catering Services – Macro Economic Scenario
5. In-Flight Catering Services Market Size And Growth
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26. Africa In-Flight Catering Services Market
27. In-Flight Catering Services Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The In-Flight Catering Services Market
29. In-Flight Catering Services Market Future Outlook and Potential Analysis
30. Appendix
Top Major Players:
- Gate Gourmet
- LSG Group
- Servair S.A
- SATS Ltd
- Journey Group PLC
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