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(Transportation-News.com, October 12, 2017 ) Exclusive Summery About Report:
The global market for in-flight catering services is expected to grow, supported by innovative services offered by airline companies. Airline companies are increasingly offering a broader food menu and food customization options to customers. Growth dynamics in the global airline catering market are largely reliant on the health of the aviation sector. Key factors spurring growth in the market include expanding global aircraft fleet, growth in the number of air passengers, and mushrooming of low cost airline companies in developing countries. Growing customer demand for nutritious food options, even while travelling, is driving growth in the market. The airline industry is therefore witnessing an alteration in passenger food preferences led by growing awareness over the nutritional value of food, rising health consciousness, and willingness to pay a price premium for high quality, nutritious food. Food safety is a major focus area for companies operating in the global in-flight catering services market. With quality and hygiene becoming a deciding factor for passengers in choosing a flight, catering companies are adopting stringent safety and sanitation measures to maintain quality of food.
As stated by the new market research report on In-Flight Catering Services, Asia-Pacific represents the largest market worldwide, closely followed by Europe. The region also ranks as the fastest growing market with a CAGR of 5.6% over the analysis period. Rapid urbanization, resurgence in discretionary spending, increase in international travel and tourism, and rising standard of living to complement aspirational travelling, are factors poised to drive growth in the region. By 2020, China is expected to supersede Japan to become the world's second largest source of business travel behind the United States. The Middle East is also emerging as a hub of international airline activity, with the region registering the highest number of order bookings for new aircraft.
Key players covered in the report include DO & CO Restaurants & Catering AG, dnata, Emirates Flight Catering Co. LLC, Flying Food Group LLC, Gate Gourmet Switzerland GmbH, Journey Group Plc, LSG Sky Chefs, Newrest Group International S.A.S, SATS Limited, and Servair SA, among others.
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The global market for in-flight catering services is anticipated to grow owing to the increasing rate for Air Travels worldwide. The market is forecasted to demonstrate an upsurge growth by 2021, with a substantial CAGR of 5% during the projected period (2016 -2021).
In-flight catering is a service provided to passengers on a commercial airline. The meals which are served may vary in quality and quantity as different airlines serve different varieties.
Economy class is predictable to be around $12 billion market in the forecasted period, increasing at a considerable rate of CAGR, followed by premium and business class aircraft. Full service carriers account almost 80% of the market share and will continue to rule the inflight catering service market. In the catering types segment, meals account 50- 55% of the market share followed by bakery & confectionary and beverages.
Major drivers of the global in-flight catering services market include the increasing expectations of the passengers regardless of class of seating to need to have healthy nutritious food and growing number of flyers. Nowadays economy class are also demanding for better and improved food which are boosting the growth of in-flight catering market.
Regional Analysis:
Asia Pacific is expected to dominate the market in the forecast period growing at a CAGR of around 6%, followed by Americas and EMEA. Fast urbanization, resurgence in flexible spending, increase in international travel and tourism are attributed to rise the market value of global in-flight catering service. Other than this, disposable income and rising standard of living to complement aspirational travelling, are factors poised to drive growth in the Asia Pacific region.
By 2021, China is expected to supersede Japan to become the world's second largest source of business travel after the United States.
The Middle East is also emerging as a hub of international airline activity, with the region registering the highest number of order bookings for new aircraft.
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As stated by the new market research report on In-Flight Catering Services,sia-Pacific represents the largest market worldwide, closely followed by Europe. The region also ranks as the fastest growing market with a CAGR of 5.6% over the analysis period. Rapid urbanization, resurgence in discretionary spending, increase in international travel and tourism, and rising standard of living to complement aspirational travelling, are factors poised to drive growth in the region. By 2020, China is expected to supersede Japan to become the world's second largest source of business travel behind the United States. The Middle East is also emerging as a hub of international airline activity, with the region registering the highest number of order bookings for new aircraft.
Table of Content
1 Introduction
1.1 Report Description
1.2 Research Objective
2 Executive Summary
2.1 Key Findings / Highlights
2.1.1 Investment Opportunities
2.1.2 Market Startegies
2.1.3 Latest Developments
3 Scope Of The Study
3.1 Markets Covered
3.2 Years Considered For The Study (2016-2021)
3.2 Geographic Scope
3.3 Key Stakeholders
4 Assumptions And Limitations
5 Research Methodology
5.1 Primary Research
5.2 Secondary Research
5.3 Econometric And Forecasting Model
14 Competitive Landscape
14.1 Key Players And Market Share Analysis
14.2 Key Development (M&A, Jvs, Partnership)
14.3 Competitive Benchmarking (Financial And Operational)
14.4 Key Companies To Watch
15.1.1 Company Overview
15.1.2 Product/Business Segment Overview
15.1.3 Key Financial
15.1.4 Key Developments And Strategies
15.2 Servair
15.2.1 Company Overview
15.2.2 Product/Business Segment Overview
15.2.3 Key Financial
15.2.4 Key Developments And Strategies
15.3 Emirates Flight Catering
15.3.1 Company Overview
15.3.2 Product/Business Segment Overview
15.3.3 Key Financial
15.3.4 Key Developments And Strategies
15.4 Dnata
15.4.1 Company Overview
15.4.2 Product/Business Segment Overview
15.4.3 Key Financial
15.4.4 Key Developments And Strategies
Continued…
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