Aerospace Industry Today

The Global In-flight Catering Market is projected to reach a market size of USD 8.60 billion by the end of 2030

In-flight Catering Market Research Report – Segmented by By Flight Type (Full-Service Carrier (FSC), Low-Cost Carrier (LCC), Others); By Class (Economy Class, Business Class, First Class, Others); By Food and Beverages (Meal, Bakery & Confectionery, Beverage, Others); and Region - Size, Share, Growth Analysis | Forecast (2023 – 2030)
Published 18 March 2024

According to the report published by Virtue Market Research in  Global In-flight Catering Market was valued at USD 8.60 billion and is projected to reach a market size of USD 27.15 billion by the end of 2030. Over the forecast period of 2024-2030, the market is projected to grow at a CAGR of 17.85 %. 

Request Your Free Sample Report Now @ https://virtuemarketresearch.com/report/in-flight-catering-market/request-sample

In the vast realm of the In-flight Catering market, one significant long-term driver has proven to be the increasing global air travel demand. Over the past decade, the aviation industry has witnessed exponential growth, fostering a parallel surge in the demand for in-flight catering services. This enduring driver is rooted in the expanding middle-class population, rising disposable incomes, and a growing preference for air travel. Despite the industry facing turbulence due to external factors, such as economic downturns and geopolitical tensions, the long-term trajectory remains optimistic.

However, the unanticipated turbulence caused by the COVID-19 pandemic has significantly impacted the in-flight catering market. With global travel restrictions, reduced passenger numbers, and stringent safety protocols, the industry experienced a sharp decline. Airlines, in response, had to reassess their catering strategies, leading to a temporary setback. As the world gradually recovers from the pandemic, the in-flight catering market is expected to bounce back, albeit with some adjustments in operational models to ensure compliance with new norms.

In the short term, one key market driver that has emerged is the heightened focus on health and safety standards. As passengers prioritize their well-being during travel, airlines are compelled to enhance their in-flight catering services to meet these evolving expectations. This short-term driver necessitates innovations in packaging, meal preparation, and delivery processes to align with stringent health protocols. Catering companies that swiftly adapt to these changing dynamics will likely experience increased demand, fostering a short-term surge in the market.

Amidst the challenges posed by the pandemic, an opportunity has surfaced for in-flight catering services to explore new revenue streams through diversification. With the rise of hybrid work models and virtual meetings, catering providers can extend their services beyond traditional airline partnerships. Collaborations with virtual events, conferences, and corporate functions present a promising avenue for growth. By seizing this opportunity, in-flight catering companies can mitigate the impact of reduced air travel and establish resilient business models.

A notable trend observed in the in-flight catering industry is the growing emphasis on sustainable practices. As environmental consciousness becomes ingrained in consumer preferences, airlines and catering services are aligning their operations with eco-friendly initiatives. From sourcing local and organic ingredients to implementing waste reduction measures, the industry is witnessing a shift towards sustainable practices. This trend not only aligns with global efforts to reduce the carbon footprint but also caters to the increasing demand for responsible and eco-conscious travel experiences.

Read More @ https://virtuemarketresearch.com/report/in-flight-catering-market

Segmentation Analysis:

By Flight Type: Full-Service Carrier (FSC), Low-Cost Carrier (LCC), Others

Over the course of the projected period, it is anticipated that the FSC category will continue to have the greatest market share. Given that FSCs frequently involve foreign or long-haul flights, it is predicted that the expanding trend in international travel will positively affect the segment's growth. Long-haul flights on international carriers typically feature a range of amenities, including meals, drinks, checked baggage, and in-flight entertainment, all included in the base ticket price. The projection term indicates a strong growth in the LCC segment. Growth is primarily being driven by the expansion of the travel and tourism sector, increased economic activity, urbanisation, and customer demand for low-cost and nonstop airlines.

By Class: Economy Class, Business Class, First Class, Others.

Over the following six years, the economy class is predicted to overtake all other segments. The segment's low prices when compared to other classes, which eventually draw big crowds of tourists, are a major element fueling its rise. Furthermore, the provision of affordable meal options is anticipated to promote this segment's growth in the near future. The class of entrepreneurs is expected to expand significantly. One of the main elements that positively affects growth is the rise in business traveller numbers together with the development of the global business network. The remarkable GDP development that many emerging economies have experienced has encouraged tourists to purchase business class tickets.

By Food and Beverages: Meal, Bakery & Confectionery, Beverage, Others

Throughout the course of the projected period, the food segment will continue to lead and hold the biggest market share. The demand for catering services on long-haul direct flights and travellers' growing acceptance of side dishes are two major development drivers. Growth may be driven during the next six years by passengers' increasing desire for wholesome, well-balanced meals and their willingness to pay comparatively high costs for them. Over the course of the projected period, the beverage segment is expected to experience significant expansion. An important reason driving the segment's expansion is the growing demand from passengers, typically on short-haul flights, for tea, coffee, and nutritious juices.

Tailor this study to your specific requirements. Let us know what you need - https://virtuemarketresearch.com/report/in-flight-catering-market/customization

Regional Analysis:

The market for in-flight catering services is predicted to be dominated by the Asia Pacific region and to remain so for the duration of the forecast. The expansion of the middle class and the rise in international travel and tourism because of rising living standards are important growth drivers. Additionally, it is predicted that the region's expanding airline industry would present substantial growth potential for in-flight food companies. During the projected timeframe, Europe is expected to experience significant growth. There should be a rise in demand for in-flight catering services on low-cost flights as more well-known airlines in the region join the ranks of budget carriers.

Searching for something specific? Our analysts can help you find it: https://virtuemarketresearch.com/report/in-flight-catering-market/enquire

Latest Industry Developments:

Strategic Collaborations:

A prevailing trend in the in-flight catering market involves companies strategically engaging in collaborations and partnerships. Recent developments showcase a shift towards alliances between catering services and airlines, allowing for a more integrated and streamlined approach. These collaborations not only enhance the overall passenger experience but also enable catering companies to secure long-term contracts and a stable revenue stream.

Focus on Technological Integration:

Companies are increasingly investing in technological advancements to optimize their operations and enhance customer satisfaction. Recent developments include the integration of digital platforms for meal pre-ordering, personalized menu options, and real-time feedback systems. This trend aligns with the broader industry move towards a more tech-savvy approach, ensuring efficient communication, order processing, and delivery logistics.

Diversification Beyond Traditional Boundaries:

In response to the dynamic nature of the market, in-flight catering services are diversifying their offerings beyond conventional airline partnerships. Recent developments indicate a trend where catering companies are exploring collaborations with event organizers, virtual conferences, and even non-airline travel services. This strategic diversification helps companies tap into new revenue streams and reduces dependency on the fluctuations of air travel demand.


Other Industry News

Ready to start publishing

Sign Up today!