The proliferating airline sector throughout the Middle East is one of the major factors expanding the in-flight catering services market share. Air traffic across the United Arab Emirates has grew by approximately 4 million in the period between 2016 and 2018.
Additionally, the region’s expanding tourism sector is expected to further complement the market expansion in terms of revenue during the analysis period. The in-flight catering services market is also poised to exhibit substantial growth owing to the Asia Pacific region, primarily due to the rising number of air passengers in the region, which has further impelled the demand for commercial aircraft throughout the region.
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A research report by Global Market Insights Inc., estimates, the global in-flight catering services market is set to exceed a valuation of $20 billion through 2026.
With reference to the seating class, the business class segment is anticipated to make a considerable contribution towards the in-flight catering service market trends over the forthcoming years.
Considering its expensive tickets, the cost of an in-flight meal is included into the price of the ticket for business class travelers. While a majority of airlines only have a very limited number of seats for the business class, the section generates a substantial revenue share throughout the global airline industry.
Taking into consideration these favorable growth factors, the market is poised to hold an overall share of more than 20% of the global in-flight catering service industry by the end of 2026.
Outsourcing is anticipated to dominate the overall market share through the forecast timeframe. This growth can be attributed to the increasing trend of outsourcing in-flight catering services to third party enterprises by airlines. This practice is gaining traction as outsourcing enables airlines to offer good quality food to its passengers while subsequently cutting their catering expenditure.
Meanwhile, the bakery and confectionaries segment is expected to emerge as a major growth driver in the market landscape due to the rising popularity of healthier confectionery and bakery items among passengers. The segment is estimated to hold over one fourth of the total market share through 2026.
The Europe In-Flight Catering Services Market is forecast to represent more than 20% of the overall market share over the forthcoming timespan. In fact, Europe recorded a year-on-year (YOY) growth of approximately 6% in 2018 in terms of air traffic.
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Additionally, the presence of prominent market players and a robust and well-established airline industry is further likely to ensure regional market growth over the forthcoming time period.
The competitive landscape of the global in-flight catering services market includes players such as ANA Catering Service Co. Ltd., Goddard Catering Group, Servair, Royal Holdings, Emirates Flight Catering, DO & CO, SATS Ltd, Newrest Catering, Journey Group PLC, Dnata, LSG Group, Gate Gourmet and Saudi Airlines Catering among others.
Table of Contents (ToC) of the report:
Chapter 1. Methodology and Scope
1.2. Market definition
1.3. Market estimation & forecast parameters
1.4. Data sources
22.214.171.124. Paid sources
126.96.36.199. Public sources
Chapter 2. Executive Summary
2.1. In-flight catering services industry 360° synopsis, 2016 - 2026
2.1.1. Business trends
2.1.2. Aircraft seating class trends
2.1.3. Source trends
2.1.4. Food type trends
2.1.5. Regional trends
Chapter 3. In-Flight Catering Services Market Insights
3.1. Industry segmentation
3.2. Industry landscape, 2016 - 2026
3.3. Industry ecosystem analysis
3.3.1. Vendor matrix
188.8.131.52. List of key service providers
184.108.40.206. List of key/potential customers
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