Fior Markets launched a study titled“In-Flight Catering Market by FoodOffering (Beverages, Deserts, Breakfast, Starters & Platters, Main Courses), Service Type, Airline Type, Provider Type, Regions”,and Global Forecast 2018-2025.
The global in-flight catering market is expected to grow from USD 17.36 Billion in 2017 to USD 27.02 Billion by 2025, at a CAGR of 5.69% during the forecast period from 2018-2025. Rise in the number of airline passengers, growth of the tourism and airlines industry coupled with emergence of novel concepts like retail on board and personal in-flight chefs are the factors that are driving the global in-flight catering market.
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Main course segment had a market value of USD 7.38 billion in 2017
Food offering segment divided into main courses, breakfast, starter & platters, desserts, and beverages. Main course segment emerged as the leader in the global in-flight catering services market with a USD 7.38 billion revenue in 2017. Beverages segment is also anticipated to grow at a healthy pace on account of wide variety and availability of onboard beverages offering.
Economic Service segment had a market value of USD 10.86 billion in 2017
The service type is divided into premium service and economic service. Economic service emerged as the largest segment with USD 10.86 billion revenue in 2017. This increased growth in the revenue can be attributed to the fact that a growing number of people are preferring to travel by the economy class. In economic service, the focus is more on providing affordable meals, beverages, and shelf-stable food.
Full-service carrier is also anticipated to attain a robust market share in 2018-2025
Airline type segment is categorized into a full-service carrier, low-cost carrier, and chartered flights. Low-cost carriers segment emerged as the leader in the global in-flight catering market with USD 7.25 billion revenue in 2017. Increasing consumer preference for the low cost carriers is the primary reason behind this increased market share.
Complete solutions provider segment had a market value of USD 10.27 billion in 2017
Provider type is segmented into the culinary only provider, complete solutions provider. An increasing number of airlines are collaborating with in-flight catering service firms that provide the complete solution including menu design, execution, and delivery, the complete solutions provider segment emerged as the leading segment with USD 10.27 billion revenue in 2017.
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Regional Segmentation Analysis:
The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. On account of the fact that Europe is the most popular tourist destination throughout the world. Many airlines offer direct flights to the Europe, resulting in Europe region to dominate the in-flight catering with USD 6.58 billion revenue in 2017.
Key players in the global in-flight catering market areUpperSky Catering, SAAC Ltd., SATS, Newrest Catering, Journey Group Pls., LSG Sky Chefs, Gate Gourmet, Do & Co, Air Gourmet, DNATA, Air Fayre, and among others. For instance, in 2016, On Air Dining Ltd announced the acquisition of Emily’s Inflight Food Services Ltd. This acquisition significantly strengthens On Air Dining’s position as one of the premium culinary concierge suppliers to the private and business aviation market.
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