In-Flight Catering Services Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The in-flight catering services market has seen significant growth in recent years, projected to increase from $16.96 billion in 2023 to $18.33 billion in 2024 at a compound annual growth rate (CAGR) of 8.0%. This historical growth can be attributed to factors such as adapting to crises, the expansion of air travel, changing dietary preferences, an emphasis on service quality, and the globalization of culinary offerings.
What Is the Projected Market Size of the Global In-Flight Catering Services Market and Its Growth Rate?
The in-flight catering services market is anticipated to experience robust growth in the coming years, projected to reach $25.39 billion by 2028 at a compound annual growth rate (CAGR) of 8.5%. This expected growth during the forecast period is driven by factors such as the adaptation to health and safety protocols, the globalization of culinary offerings, increasing demand for on-demand services, the expansion of the premium and luxury markets, and a focus on sustainability and eco-friendly practices.
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What are the Key Drivers Fueling Growth in the In-Flight Catering Services Market?
The rise in air traffic is expected to drive the growth of the in-flight catering services market. In recent years, there has been a significant surge in the number of air travelers, reflecting that more people can now afford to fly. Changing lifestyles and increasing disposable incomes have contributed to the growing demand for air travel for both leisure and business. As a result, in-flight catering has become essential for passengers, particularly for network carriers operating on long-haul routes.
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Who Are the Key Players Driving Growth in the In-Flight Catering Services Market?
Key players in the market include Korean Air Catering Co. Ltd., Japan Airlines Catering Service Co. Ltd., Cathay Pacific Catering Services Ltd., Emirates Flight Catering LLC, Newrest Group Services SAS, Ethiopian Airlines Catering Services, Singapore Airport Terminal Services Ltd., Flying Food Group LLC, DO & CO Luftfahrt-Catering Service GmbH & Co. KG, Servair S.A., EgyptAir In-Flight Services, Bahrain Airport Services Co. (BAS), Air Culinaire Worldwide Inc., Air Fayre Ltd., Abby's Catering Ltd., Gate Gourmet Ltd., Journey Group plc,
What Are The Emerging Trends Shaping The Growth Of The In-Flight Catering Services Market?
Leading companies in the in-flight catering services market are emphasizing strategic collaboration to deliver reliable services to their customers. Strategic collaboration involves a mutually beneficial partnership between two or more independent entities that work together to achieve common goals while aligning with their individual strategic objectives.
What Are the Segments of the Global In-Flight Catering Services Market?
1) By Aircraft Seating Class: Economy Class, Business Class, First Class
2) By Source: In-house, Outsource
3) By Flight Type: Full Service Carriers, Low Cost Carriers
4) By Food Type: Meal, Bakery and confectionery, Beverage, Other Types
Geographic Overview: North America at the Helm of the In-Flight Catering Services Market
North America was the largest region in the market in 2023. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
How Is The In-Flight Catering Services Market Defined?
In-flight catering services provide passengers with packaged food and beverages during their flights. This type of service encompasses airline meals, airline food, or in-flight meals. These catering services employ specialized skills, technology, and a focus on quality to deliver catering specifically for airline travelers. The meals are prepared by dedicated catering companies.
The In-Flight Catering Services Global Market Report 2024 from The Business Research Company includes the following key information:
Market size data for both historical and future periods
Analysis of both macro and microeconomic factors that have impacted the market over the past five years
Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
Overview of the Global In-Flight Catering Services Market Report: Trends, Opportunities, Strategies, and More
The In-Flight Catering Services Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into in-flight catering services market size, in-flight catering services market drivers and trends, in-flight catering services competitors' revenues, and in-flight catering services market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.
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