In-Flight Catering Service Market Opportunities and Top Companies: Gategroup, LSG Sky Chefs, Do & Co, Emirates Flight Catering, SATS Limited, and Royal In-Flight Catering

Key Findings of the In-Flight Catering Service Market:

1. North America is expected to lead the global in-flight catering service market, growing at the highest CAGR of 3.78%, in terms of revenue, from 2018 to 2026.

2.Based on aircraft class, the economy class segment occupied around 51% of in-flight catering service market share of the total market in 2018.
By flight type, the full service segment occupied a major share of the global market in 2018, in terms of revenue.

3. U.S. is the largest country, in terms of revenue generation, in the global in-flight catering service market, and is expected to grow at a CAGR of 3.49% from 2018 to 2026.

4. Based on food type, the meals segment occupied around 45% the market share of the total market in 2018.

The major players in the industry have adopted strategies such as acquisition, partnership & agreement, merger, and geographical expansion to expand their market share and increase profitability. The key players operating in the in-flight catering service industry include Gategroup, Newrest Group International S.A.S, LSG Sky Chefs, Do & Co, Emirates Flight Catering, SATS Limited, Cathay Pacific Airways Limited, Flying food Group LLC, Saudi Airlines Catering Company, and Royal In-Flight Catering.

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quote Due to growth in urban middle class population in developing countries such India, China, and Brazil people continue to migrate to cities for economic opportunity, the middle class will expand and begin to travel. Furthermore, additional domestic routes in developing countries and supportive government policy are further expected to boost the market growth. quote

Shankar Bhandalkar
Senior Research Analyst, Food & Beverages at Allied Market Research

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According to a new report published by Allied Market Research, titled, "Global In-Flight Catering Service Market by Aircraft Class, Flight Type, Food Type, and Region: Global Opportunity Analysis and Industry Forecast, 2019-2026," the global in-flight catering service market size was valued at $18,081 million in 2018, and is expected to reach $24,113 million by 2026, growing at a CAGR of 3.66% from 2019 to 2026. The economy class segment is expected to retain its dominant position, in terms of revenue generation, throughout the forecast period.

North America held the leading position in the global in-flight catering service market size in 2018 and is expected to maintain its dominance in the future. The full service segment is expected to retain its dominant position, in terms of revenue generation, throughout the forecast period.

Inflight catering is a service provided by catering companies to air travelers during air travel. Inflight catering service is an important service offered by the airline company to the passengers to make unparalleled travel experience on board. Due to rise in competition in the airline industry and increase in number of passengers in-flight catering service is an important service to attract customer and increase their market share.

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Rise in investment in the development of airport infrastructure and development of aviation technology is expected to lower the air travel cost thus boosting the market growth. The Indian government is planning to invest US$1.83 billion for development of airport infrastructure along with aviation navigation services by 2026. The investment is aimed to develop Guwahati as an inter-regional hub and Agartala, Imphal, and Dibrugarh as intra-regional hubs. In addition, Indian aircraft Manufacture, Repair, and Overhaul (MRO) service providers are exempted completely from customs and countervailing duties. These will lower the air transportation prices and thus lead to untap huge growth opportunities within the country. In addition, Australian government has signed an open sky agreement with India government allowing airlines on either side to offer unlimited seats to six Indian metro cities and various Australian cities. Thus, helping in reduction of airline fares and boosting the market growth.

Europe was the second largest market in terms of revenue generation and is expected to register a CAGR of 2.91% during the forecast period. In North America, in-flight catering service has ceased expanding in recent years, however, in South America it has shown strong and continuous growth, particularly in Brazil and Peru. This is attributed to technological developments in South America. Moreover, rapid development in the Middle East, in terms of infrastructure and technology, drives the growth of the LAMEA in-flight catering service market. However, weak economies in Africa hamper the spending of consumers, which in turn restrains the market growth.

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