Selbyville, Delaware, April 27, 2020 (GLOBE NEWSWIRE) --
According to latest report “In-flight Catering Market by Aircraft Seating Class (Economy-class, Business-class, First-class), Source (In-house, Outsource), Food Type (Meal, Bakery & Confectionery, Beverages), Regional Outlook, Competitive Landscape & Forecast 2026”, by Global Market Insights, Inc., the market valuation of in-flight catering services will reach $20 billion by 2026. Proliferating airline industry in the Middle East region is one of the key contributors, augmenting the market growth.
One of the chief factors propelling the growth of in-flight catering servces market is the proliferating airline industry in Middle East region. Air traffic in UAE increased by close to 4 million between 2016 and 2018. Rising air traffic in the region coupled with blooming regional tourism industry will positively impact the regional market growth.
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Outsource will hold majority of the market share in 2026. It can be attributed to the popularity of outsourcing of in-flight catering services in the airline industry. outsourcing helps the airlines to reduce their catering cost and provide better quality food.
Business class is likely to hold more than 20% share in the global in-flight catering market in 2026. The cost of meal is already included in the ticket price of business class travelers. Though the airlines have limited seats for business-class passengers, this class generates significant revenue share in the global airline industry.
Bakery & confectionery segment is likely to hold more than one-fourth of the market share in 2026. Emergence of healthier bakery & confectionery items will augment the growth of this segment in the coming years.
Europe will account for more than 20% in-flight catering market share by 2026. In 2018, the region registered a year-on-year growth of close to 6% in terms of air traffic and will continue to grow in the coming years. The presence of matured airline industry along with rising regional air traffic will augment the growth of European market.
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Key industry players include Gate Gourmet, Saudi Airlines catering, Dnata, LSG Group, Journey Group PLC, SATS Ltd, Newrest Catering, Emirates Flight Catering, DO & CO, Royal Holdings, Goddard Catering Group, Servair, ANA Catering Service Co. Ltd., etc. Major players are focusing on opening newer facilities to increase their geographical reach.
Some major findings of the in-flight catering market report include:
- Rising commercial aircraft demand, coupled with increasing air travelers in Asia Pacific region will propel the market growth.
- Economy-class will be the main aircraft seating class segment.
- Outsource will dominate the market as major airlines opt to outsource their in-flight catering services.
- Meals will account for highest share as major airlines are focusing on improving their meal offerings coupled with rising air traffic worldwide.
Table of Contents (ToC) of the report:
Chapter 3. In-flight Catering Market Insights
3.1. Industry segmentation
3.2. Industry landscape, 2016 - 2026
3.3. Industry ecosystem analysis
3.3.1. Vendor matrix
3.3.1.1. List of key service providers
3.3.1.2. List of key/potential customers
3.4. In-flight catering process
3.5. Industry impact forces
3.5.1. Growth drivers
3.5.2. Industry pitfalls & challenges
3.6. Industry megatrends
3.7. Impact of COVID-19 on airline industry, by region
3.7.1. North America
3.7.2. Europe
3.7.3. Asia Pacific
3.7.4. Latin America
3.7.5. Middle East & Africa
3.8. Competitive landscape, 2018
3.8.1. Company market share, 2018
3.8.2. Strategy dashboard
3.9. Regulatory landscape
3.10. Future trends
3.11. Patent analysis
3.12. Growth potential analysis
3.13. Porter’s analysis
3.13.1. Supplier power
3.13.2. Buyer power
3.13.3. Threat of new entrants
3.13.4. Threat of substitutes
3.13.5. Industry rivalry
3.14. PESTEL analysis
Browse Complete Table of Contents (ToC) @
https://www.gminsights.com/toc/detail/in-flight-catering-services-market
About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.