In-Flight Catering Services Market 2018-2023 Ongoing Trend | Growing at Remarkable CAGR of 6% with Jetfinity, Dnata, Gate Gourmet, Lsg Sky Chef, Do&Co, Cathay Pacific, Sats

The global in-flight catering services market has been estimated at USD 15.54 billion in 2017. The market is expected to register a CAGR close to 6% during the forecast period, 2018 to 2023. Asia-Pacific accounted for the largest market, accounting for around one-third of the global market share in 2017.

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Market Dynamics

Increasing numbers of air passengers, passenger preferences to pay for premium food, hotel-airline collaborations, expanding global aircraft fleet, growing demand for third-party caterers to achieve quality and affordability, and advancement in technology of food-ordering systems are the some of the factors driving the market.

Key Developments in the Market
• January 2018: Gate Group entered into a 30 year JV with Asiana Airlines of Korea.
• November 2017: Gate Group and LATAM Airlines created a dining concept for economy class traveler in long haul flights, allowing customers to choose from three choices of food for lunch, dinner and breakfast.
• October 2017: LSG has partnered with Air New Zealand and New Zealand Ministry to tackle inflight catering wastage.
• March 2017: Cathay Pacific redesigned its inflight catering service by introducing “dial on demand” catering alongside a pre-order option on routes from Hong Kong to London and Hong Kong to Chicago.

Major players:

JETFINITY, DNATA, GATE GOURMET, LSG SKY CHEF, DO&CO, CATHAY PACIFIC, SATS.

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Technology Trends

In the food and beverage industry, ordering and paying for food and beverages via tablet and mobile devices has become the new trend at casual dining chains such as Applebee’s and Chili’s across the United States, while airport restaurateur OTG has installed thousands of food-ordering iPads at half a dozen of the US airports. Leisure air carrier TUI Netherlands allows users to order drinks via smartphones of passengers. Similar trend is anticipated to be the trend in most of the aircariers and airports in the future.

Asia-Pacific to Dominate the Market Growth

APAC is anticipated to dominate the market during the forecast period, at a CAGR close to 8%. Rapid urbanization, resurgence in discretionary spending, increase in international travel and tourism, and rising standard of living to complement aspirational travelling are factors poised to drive growth in the region. By 2020, China is expected to supersede Japan to become the world's second largest source of business travel after the United States.

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This release was published on openPR.