In-flight Catering Services Market Size, Share & Trends Analysis Report By Flight Type (Full Service Carrier, Low Cost Carrier), By Airlines, By Airline Class, By F&B Type, By Region, And Segment Forecasts, 2022 - 2030
New York, Sept. 13, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "In-flight Catering Services Market Size, Share & Trends Analysis Report By Flight Type, By Airlines, By Airline Class, By F&B Type, By Region And Segment Forecasts, 2022 - 2030" - https://www.reportlinker.com/p06318481/?utm_source=GNW
In-flight Catering Services Market Growth & Trends
The global in-flight catering services market size is predicted to reach USD 27.62 billion by 2030, expanding at a CAGR of 7.1% from 2022 to 2030, according to the latest report. In-flight catering services are expected to grow rapidly due to the rise in the number of passengers flying. Despite slower economic growth in certain nations, after the COVID-19 pandemic, people have started flying in both domestic and international flights cautiously, which is projected to grow over time, encouraging market expansion. Growth in passenger demand for healthy and nutritious food products in-flight and their willingness to pay a premium for high-quality, healthy food are expected to fuel market growth during the forecast period. Additionally, airlines worldwide offer their customers more options for customizing their meals and a wider variety of food options.
The proliferation of in-flight food management and the development of automation have made it possible for airlines and caterers to work together to provide a high-quality customer experience at a low price.Furthermore, due to growing complexities of the in-flight catering market, effective automation tools are making food-making processes and systems more efficient.
For instance, in April 2022, SATS Ltd. announced an investment of 150 million Singapore dollars, approximately USD 110.1 million, for food production automation. SATS food hub synergized meal preparation capability and automation to strengthen operations and enhance the production efficiency.
Furthermore, leading global airlines are regularly employing well-known wine experts and chefs as part of their marketing efforts.Airlines are increasingly outsourcing various processes in the value chain of in-flight catering to third-party caterers.
A recent trend of outsourcing is gradually surfacing in developed markets where companies have started to outsource their food-making processes. Rising competition among airlines to attract and retain passengers, new scheduled aircraft deliveries, increasing demand for quality food onboard, and innovation in the menu are some other factors fueling growth of the market.
In-flight Catering Services Market Report Highlights
• Asia Pacific is predicted to register the highest CAGR over the forecast period owing to the increase in disposable incomes of individuals in developing nations
• By F&B type, the meal segment held the largest revenue share in 2021 owing to rising demand for nutritious and healthy meals and customers’ willingness to pay a moderately higher price for such meals
• The business airline class segment is anticipated to grow at a rate of 6.3% from 2022 to 2030. The segment is projected to gain traction due to the emerging demand for high-quality, hot, and tailor-made meals in the business class
Read the full report: https://www.reportlinker.com/p06318481/?utm_source=GNW
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