Increasing air travel has inversely increased the need for quality inflight catering services in the recent years. Market Research Future, a firm which specializes in market reports related to the Aerospace sector among others, published in its recent report on In-Flight Catering Service Market Research Report – Global Forecast to 2021 that the segment is set to grow at a CAGR of 5% during the forecasted period.
Inflight catering service is crucial to improving the overall quality standards of service that are delivered by airlines. High quality inflight catering services are highly demanded in the aviation sector, as inflight food is one of the key selling points for the segment. Increase in the frequency and intensity of airline travel in the current phenomena has further driven the demand of the inflight catering services. Demand for different types of cuisines and high quality of food while on flights are the major motivating factors for the diversification of the in-flight catering service market.
With the entry of new industry players in the in-flight catering service segment, a trend of solid, volume-driven growth has been observed in the market with the addition of new and advanced products. Companies are aiming to capture & solidify their share of the market segment, by competing and experimenting with various advantage points. The best long-term growth opportunities for this sector can be captured by ensuring ongoing process improvements and financial flexibility to invest in the optimal strategies.
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Major Key Players
Do & Co
Egypt Air In Flight Services
Emirates Flight Catering
Global In-Flight Catering Service Market is forecasted to demonstrate a spectacular growth by 2021, surpassing its previous growth records in terms of value with a striking 5% of CAGR during the projected period (2016 -2021).
Latest Industry News:
Sep 2017 As part of the airline’s £400m (US$517m) soft product revamp of its business class cabin, British Airways has extended its partnership with DO & CO, a company with one of the best reputations for quality inflight catering in the industry. Due to the importance of these crucial flights on the boundary between midhaul and longhaul, DO & CO will launch the service by catering all British Airways flights from London Heathrow and London City to New York JFK, as well as from London to Chicago O’Hare, in first and business classes.
Oct 2017 Flag carrier Singapore Airlines (SIA) announced that it will use more sustainable ingredients in its in-flight meals as part of its efforts to promote environmental sustainability and support local farmers. SIA announced its new From Farm to Plane initiative on the sidelines of the World Gourmet Forum in Kranji. Under the new initiative, SIA said it will use more sustainable and “meatless” ingredients in its in-flight meals.
Mar 2017 Biman Bangladesh Airlines introduced new meals and entertainment packages for business class passengers on Dhaka-London-Dhaka route. Biman has decided to bring diversity to foods and services every three months so that passengers can enjoy their flights. Biman Flight Catering Centre (BFCC) is providing foods to Malaysia Airlines, Cathey Pacific, Turkish Airlines and Dragon Air. It also supplies foods to 14 more airlines on casual basis. BFCC prepares around 8,500 meals a day. The number reaches up to 12,000 during operation of hajj flights.
Nov 2017 Chinese conglomerate HNA Group is considering an initial public share offering for Gategroup Holding, the airline caterer it bought for US$1.5 billion in cash last year in a deal that is facing regulatory scrutiny from the Swiss authorities. Zurich-based Gategroup, the world’s second-largest air caterer, said Tuesday that it and its main shareholder, HNA Aviation Air Catering (Hong Kong), were evaluating the SIX Swiss Exchange in Zurich as a potential listing location, but the structure and timing of any IPO were yet to be determined.
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In-Flight Catering Service Market – Segments
The global in-flight catering service market report is primarily segmented in to 4 categories:
On The Basis Of Aircraft Class: First Class, Business Class, Premium Economy Class and Economy Class
On The Basis Of Flight Type: Full Service and Low Cost
On The Basis Of Catering Type: Bakery & Confectionary, Meals, Beverages and Others
On The Basis Of Region: Asia Pacific, Europe, North America, Latin America and the Middle East & Africa
In-Flight Catering Service Market – Regional Analysis
The regional analysis of global in-flight catering service market is being studied for regions such as Asia Pacific, North America, Europe and Rest of the World. APAC will dominate the market in the forecast period growing at a CAGR of around 6%, followed by Americas and EMEA. Rapid urbanization, resurgence in discretionary spending, increase in international travel and tourism attributed to Rising GDP, and consequently, disposable income and rising standard of living to complement aspirational travelling, are factors poised to drive growth in the Asia Pacific region.
By 2021, China is expected to supersede Japan to become the world’s second largest source of business travel after the United States. The Middle East is also emerging as a hub of international airline activity, with the region registering the highest number of order bookings for new aircraft.
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