Flight passengers are shifting away from complementary servings to a-la-carte servings – an opportunity for budget airlines to frame a separate passenger base for paid meals with all-in menus. Airlines are walking an extra mile towards improving in-flight catering services to comply with the changing food expectations of passengers owing to their enhancing health and nutrition approach. The in-flight catering services market was valued ~US$ 18 billion in 2018 and is set to register a CAGR of ~5% during the predefined timeframe, with Europe to remain at the driver’s seat. Acknowledgement of flexible expenditures, and rising domestic and international aerial trips among the millennial demographic cohort are the gold mines of growth of market while insufficient availability of food options remains a pain point for airlines and catering services provider. In addition, amplifying inclination of foodies towards balanced diets and increasing population of health-driven individuals are likely to bolster the European in-flight catering services market. These insights are according to the intelligence report, titled, "In-flight catering services Market—Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019-2027," which has been of late added to Market Research Hub’s (MRH) overarching armamentarium.
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With digitalization taking commonplace, airlines are entering into collaborations with software establishments for developing pre-order facilities for better convenience of passengers. Hiking prices of rail and road transportation as well as demanding lifestyles is influencing ‘time-pressed’ travelers to look for aerial mode. As such, increase in air traffic has broadened the scope of operation for in-flight catering service providers.
Catering services in line with ‘cost-cutting’ notion of airline firms are set to witness an upward trajectory despite significant traction of outsourced catering services. The quality of meals is an all-or-nothing aspect for catering service providers while satiating rising health-conscious populace. Further, long-interval flights are set to have a Midas touch for the in-flight catering services market owing to upswing in tourism incidents, business events, and worldwide networking.
Market players are positioning their focus on increasing daily meal production capacity; for instance, LGS Sky Chefs announced the launch of a new catering service at Murtala Mohammed International Airport in Lagos, Nigeria, which is designed to offer 10, 000 servings per day. Furthermore, regional participants, including Flying Food Group, LLC, are eyeing on the evolving needs of passengers by providing customized food to economy, business, and first-class travelers.
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In-flight catering services Market: Report Synopsis
Quantitative and qualitative assessment exhort intelligence and overarching report on the in-flight catering services market. Further, the report thoroughly delineates various aspects of the market that will potentially have considerable influence on the development of the in-flight catering services market. As such, those aspects incorporate drivers, trends, restraints, and opportunities. Furthermore, the report elucidates segregation of the market that provides an exhaustive analysis on in-flight catering services.
An insightful and deep-dive assessment of the competitive assessment of the in-flight catering services market pins hope on Porters’ Five Force Analysis. Accordingly, the Porters’ Five Force Analysis offers a pressing analysis on the potential strategies of the preeminent players in the in-flight catering services market. In addition, the business strategies counts on company overview, product portfolio, SWOT analysis, key differentiation and recent development.
In-flight catering services Market: Research Approach
Primary sources and secondary sources propel intelligence report on in-flight catering services market that provide deep dive analysis on the market. As such, the report provides reliable and unbiased projections, and assessments which have palpable impact on the market size and historical data. Besides, the report also counts on primary sources which hinges upon in-depth and intelligent analysis from well-grounded and reliable experts, telephonic interview, and a thorough assessment from surveys and seasoned analyst. Report on in-flight catering services market further acknowledges secondary sources-namely-Factiva, EC filing, press release, trade journals, resourceful database and governmental websites.
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