DUBLIN, April 24, 2023 /PRNewswire/ — The “In-Flight Catering Services: Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.
Global In-Flight Catering Services Market to Reach $27.6 Billion by 2030
The global market for In-Flight Catering Services estimated at US$19.8 Billion in the year 2022, is projected to reach a revised size of US$27.6 Billion by 2030, growing at a CAGR of 4.2% over the analysis period 2022-2030.
Economy Class, one of the segments analyzed in the report, is projected to record a 4.8% CAGR and reach US$14.2 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Business Class segment is readjusted to a revised 3.9% CAGR for the next 8-year period.
The U.S. Market is Estimated at $4.2 Billion, While China is Forecast to Grow at 5.9% CAGR
The In-Flight Catering Services market in the U.S. is estimated at US$4.2 Billion in the year 2022. China, the world’s second largest economy, is forecast to reach a projected market size of US$3.7 Billion by the year 2030 trailing a CAGR of 5.9% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.7% and 3.5% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 3.6% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$7 Billion by the year 2030.
Looking Ahead to 2023
The global economy is at a critical crossroads with a number of interlocking challenges and crises running in parallel. The uncertainty around how Russia`s war on Ukraine will play out this year and the war`s role in creating global instability means that the trouble on the inflation front is not over yet. Food and fuel inflation will remain a persistent economic problem.
Higher retail inflation will impact consumer confidence and spending. As governments combat inflation by raising interest rates, new job creation will slowdown and impact economic activity and growth. Lower capital expenditure is in the offing as companies go slow on investments, held back by inflation worries and weaker demand. With slower growth and high inflation, developed markets seem primed to enter into a recession.
Fears of new COVID outbreaks and China’s already uncertain post-pandemic path poses a real risk of the world experiencing more acute supply chain pain and manufacturing disruptions this year. Volatile financial markets, growing trade tensions, stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced.
Year 2023 is expected to be tough year for most markets, investors and consumers. Nevertheless, there is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.
What`s New for 2023?
Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
Global competitiveness and key competitor percentage market shares
Market presence across multiple geographies – Strong/Active/Niche/Trivial
Online interactive peer-to-peer collaborative bespoke updates
Access to digital archives and Research Platform
Complimentary updates for one year
Key Topics Covered:
MARKET OVERVIEW
Influencer Market Insights
World Market Trajectories
Impact of Covid-19 and a Looming Global Recession
In-Flight Catering Services: A Prelude
Historical Background
Key Stakeholders
Architecture of In-Flight Catering System
In-Flight Catering Services: Providing Quality, Fresh and Delicious Food to Air Passengers
Low Cost Carriers to Gain Greater Market Share
Economy Class Drives Market Growth
Air Passengers Exhibit Preference for Meals
In-Flight Catering: One of the Most Dynamic Segments in the Catering Industry
Inflight Catering: Major Trends Summarized
Airline Catering: From Simple Fare Comprising Biscuits to Elaborate Multiple Meal Option Menus
Quieter Airplanes Make it Easy to Savor In-Flight Meals
Food Services for Premium Cabins Similar to Top Restaurants on the Ground
Advent of Cultural and Religious Diets
Complimentary and Paid Multiple-Course Meals
Popular Food, Beverage and Culinary Trends in Airline Catering
Locally Procured Food: The New Flavor of the Season
Vegetables Take Center Stage
Adding Spice to Food
Hawaiian Food Going Places
Healthier Breakfast Options
Branded Farm Produce
New Meat Cuts
Stuffed Items Gain Popularity
Signature & High Class Cocktails
Seafood
Fast Food
Packaged Popcorn
Best Coffee Onboard
Craft Beer
Seasonal Food Items for Holiday Travelers
Spices and Herbs Replace Artificial Additives and Salt
Foods from Home/Destination Country
Nutritious Food Onboard: A Major Attraction for Health Conscious Customers
Few Other Airline Food & Catering Trends in a Nutshell
All Things Significant about Food Served in Flights across the World
Major Aspects of Aircraft Food
Emerging Economies to Propel Future Growth in In-Flight Catering Services Market
Economic and Demographic Fundamentals Support Market Growth
Major Market Challenges Summarized
In-Flight Catering Services: An Intensely Competitive Marketplace
gategroup and LSG Sky Chefs: Two Global Leading In-Flight Caterers
Leading Airlines for In-Flight Meals
British Airways: Managing Growing Competition through Novel Offerings
Emirates Group: Transforming from a Regional Leader to a Globally Recognized Brand
Cathay Pacific’s New Catering Model for Business Class Passengers Speeds up Service
Airport Catering Services Market Continues to Witness M&A Activity
gategroup’s Acquisition of LSG’s European Operations: A Major Development in Airline Catering Market
Partnerships between In-Flight Catering Companies and Airlines on the Rise
Strategies Adopted by Leading Airlines/Catering Service Providers
In-Flight Meal Experience Plays Major Role in Airline Branding
Matching Consumer Expectations: Difficult but Essential
Airlines Strike Balance between Catering Costs and Brand Image
Airlines Extend Premium-Quality Foods to Non-First Class Passengers
Large Airlines Focus on Lean Operations, Shed Catering Units
Novel Concepts in Production, Material & Process Management
Regulatory Forces Keep Close Watch
Catering & Logistics: The Most Essential Combination for Caterers
Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
MARKET TRENDS & DRIVERS
Surge in Air Travel and the Corresponding Increase in Passenger Traffic Drive Healthy Growth in Demand for In-Flight Catering Services
Stable Commercial Aviation Outlook Signals Growth Opportunities for Airline Catering
Ground Handling Services: The Backbone of In-Flight Catering
Growing International Tourism and Consequent Rise in Air Travel to Benefit In-Flight Catering Market
Booming Outbound Travels of Chinese Millennial Population to Benefit Growth Prospects for In-Flight Catering
Increasing Pressure to Reduce Costs Favor In-flight Catering Outsourcing
Shift from Complimentary Meals to ‘Buy on Board’ Transforms In-Flight Catering from Free Service Offering to a Revenue Model
Low-Cost Carriers Boost the “Buy on Board” Segment of Travel Retail
Local Touch to Buy-On-Board Catering
Culturally Diverse Food Preferences Spur Growth in Demand for Special Meals
Mobile-Based Ordering and Pre-Ordering Takes Off
Pre-ordered Meals at Airport Restaurants
Pre-Ordered Meals before Flights
Paid Pre-order Meals Still Not Flying
Dietary Restrictions and Food Allergies: The Main Considerations for Airlines When Deciding Menus
Demand Surges for Healthy and High Quality Food
Mini Meals: The Latest Fad for the Health Conscious Airline Traveler
Rising Airline-Hotel Collaborations Benefit Market Prospects
Enduring Trend of Environmental Sustainability Augurs Well for Long Term Growth of In-Flight Catering
Air Travel Plastic Waste Increasing Steadily: A Major Concern
Use of Plastic in In-Flight Catering Raises Carbon Emission Concerns
Major Airlines Undertake Sustainability Initiatives to Address Climate Change
Focus on Environmental Conservation and Cabin Waste Reduction Influence Packaging of Inflight Meals
Innovative Airline Amenity Ideas from PriestmanGoode
Edible Cups of Air New Zealand
SAS Unveils New, Sustainable Packaging of New Nordic Food Concept
SunExpress Germany Offers Meals in Recyclable, Bio-packaging
SIA Embarking on New Onboard Sustainability Initiatives
The Bring-your-Own-Cup Trend Catching Up in the Air Travel Industry
Airlines Caterers Prepare to Meet Challenges Posed by Increasing Numbers of Aging Air Travelers
Emerging Middle Class & Rapid Urbanization: Megatrends Driving Air Travel & Airline Catering
Innovations, Advancements and Service Enhancements
The Vertical Farm of Emirates
Lufthansa’s Astronauts’ Meals
Airborne Cooking Robot
Data Science and Artificial Intelligence by Airlines for Improved Food Supply and Sales
Sous-Vide Cooking Process from Cuisine Solutions
On-Demand Food Service for Enhanced Travel Experience
Meal Ordering Devices (MODs) for Taking Orders
Automated In-Flight Catering Management Solutions
Hybrid Model: The Next Big Thing in Airline Catering
Food Trucks
Onboard Picnic Services
Deep Frozen Meals
Key Challenges Facing In-Flight Catering Market
FOCUS ON SELECT PLAYERS
Abby’s Catering (USA)
AAS Catering Co., Ltd. (Japan)
ANA Catering Service Co., Ltd. (Japan)
Brahim’s SATS Food Services Sdn Bhd (Malaysia)
Cathay Pacific Catering Services (H.K.) Ltd. (Hong Kong)
DO & CO Restaurants & Catering AG (Austria)
dnata (UAE)
Emirates Flight Catering Co., LLC (UAE)
Flying Food Group, LLC (USA)
gategroup Holding AG (Switzerland)
Servair SA (France)
KLM Catering Services Schiphol BV (The Netherlands)
LSG Lufthansa Service Holding AG (Germany)
LSG Sky Chefs (Germany)
Newrest Group International S.A.S (France)
On Air Dining Ltd. (UK)
Royal In-Flight Catering Co., Ltd. (Japan)
Saudi Airlines Catering Company (Saudi Arabia)
SATS Limited (Singapore)
TajSATS Air Catering Limited (India)
For more information about this report visit https://www.researchandmarkets.com/r/ssf79c
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