Dublin, March 13, 2023 (GLOBE NEWSWIRE) -- The "In-Flight Catering Services Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
The global in-flight catering services market grew from $15.68 billion in 2022 to $16.93 billion in 2023 at a compound annual growth rate (CAGR) of 8.0%. The in-flight catering services market is expected to grow to $21.17 billion in 2027 at a CAGR of 5.7%.
The in-flight catering services market includes revenues earned by entities by providing flight dine food services, meal services, raw material handling services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included
North America was the largest region in the in-flight catering services market in 2022. The regions covered in the in-flight catering services report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Increased air traffic is expected to propel the growth of the in-flight catering services market. In recent years, the number of people who travel by plane has skyrocketed. This indicates that a large number of individuals can now afford to travel by plane. The changing lifestyle coupled with increasing disposable income has triggered the increase in air travel demand for leisure and business purposes.
In-flight catering has become important for travellers, especially for network carriers serving long distances. For instance, in November 2021, according to the Federal Aviation Administration, on a daily basis, the Air Traffic Organization (ATO) provides service to 2.9 million airline passengers in more than 45,000 flights across approximately 29 million square miles of airspace. Therefore, increasing air traffic is driving the growth of the in-flight catering services market.
Increasing investment is the key trend gaining popularity in the in-flight catering services market. Many companies operating in the in-flight catering services sector are focused on investments to meet customer demand.
For instance, in June 2021, Newrest, a France-based company that provides in-flight catering services, signed a new inflight catering contract with an American airline in Atlanta. Through the contract, Newrest increases its capacity from 4,000 meals per day to 6,500 meals per day. New in-flight catering standards from Newrest provide good quality food to passengers.
In October 2021, Newrest, a France-based catering provider, acquired Delight Air Catering for an undisclosed amount. With this acquisition, Newrest expands its business in Germany and would also build a strong network in in-flight catering services. Delight Air Catering is a Germany-based company that provides in-flight catering services.
The countries covered in the in-flight catering services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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Scope
Markets Covered:
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
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value (USD) in 2023 | $16.93 billion |
| Forecasted Market Value (USD) by 2027 | $21.17 billion |
| Compound Annual Growth Rate | 5.7% |
| Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. In-Flight Catering Services Market Characteristics
3. In-Flight Catering Services Market Trends And Strategies
4. In-Flight Catering Services - Macro Economic Scenario
5. In-Flight Catering Services Market Size And Growth
6. In-Flight Catering Services Market Segmentation
7. In-Flight Catering Services Market Regional And Country Analysis
8. Asia-Pacific In-Flight Catering Services Market
9. China In-Flight Catering Services Market
10. India In-Flight Catering Services Market
11. Japan In-Flight Catering Services Market
12. Australia In-Flight Catering Services Market
13. Indonesia In-Flight Catering Services Market
14. South Korea In-Flight Catering Services Market
15. Western Europe In-Flight Catering Services Market
16. UK In-Flight Catering Services Market
17. Germany In-Flight Catering Services Market
18. France In-Flight Catering Services Market
19. Eastern Europe In-Flight Catering Services Market
20. Russia In-Flight Catering Services Market
21. North America In-Flight Catering Services Market
22. USA In-Flight Catering Services Market
23. South America In-Flight Catering Services Market
24. Brazil In-Flight Catering Services Market
25. Middle East In-Flight Catering Services Market
26. Africa In-Flight Catering Services Market
27. In-Flight Catering Services Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The In-Flight Catering Services Market
29. In-Flight Catering Services Market Future Outlook and Potential Analysis
30. Appendix
A selection of companies mentioned in this report includes
- Gate Gourmet
- LSG Group
- Servair S.A.
- SATS Ltd
- Journey Group PLC.
- ANA Catering Service Co. Ltd
- Emirates Flight Catering
- Flying Food Group
- Newrest Group Services SAS
- AAS Catering
- Egypt Air In-Flight Services
- KLM Catering Services Schiphol
- Air Fayre
- Abby's Catering
For more information about this report visit https://www.researchandmarkets.com/r/t7h7p7
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