In-Flight Catering Market is estimated to reach US$ 28,262.8 million revenue towards the end of the forecast period.
Albany, NY -- (SBWIRE) -- 04/06/2019 -- The rising number of international and domestic travelling along with low cost emerging flight service are some of the prime factor fueling demand for the global in-flight catering market. For example, as per domestic air traffic reports, in India passengers carried by domestic airlines during January 2017 were 95.79 lakhs as against 76.55 lakhs during previous year (2016), thereby witnessing growth of 25.13 %.In addition, increasing affordable air travelling and consumer spending on affordable travelling is propelling demand for the global In-flight catering market in developing and developed economies.
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The in-flight service providers are looking forward to invest in the technologies that help in providing meals to large number of passengers, easily. However, several companies have dropped out food service facilities for the consumer at short hauls flight or domestic flights. Furthermore, the companies are also taking initiative to provide quality food service to the consumers in order to boost demand for the global in-flight catering market in the coming years.
As per report, the global in-flight catering market is likely to register steady growth during the course of forecast period from 2017 to 2026. The market is expected to register robust CAGR of 5.3%. The overall revenue obtained by the global in-flight catering market is US$ 28,262.8 million.
Economy Class Segment to Dominate Global In-Flight Catering Market Due to Affordable Government Policy
The economy class segment is expected to gain maximum market share in the global in-flight catering market due to affordable pricing of economic class air tickets. The government of several countries is introducing consumer friendly policy to drive growth of the aviation industry. For instance, government of India introduced several scheme to make air ticket affordable for the general population. The policy is further aimed to provide air ticket affordable and widespread and this further leads to economic growth, air infrastructure growth in various region, and this will further propel Job opportunities in India.
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Europe to Dominate Global In-flight Catering Market owing to Tourism Growth
From Geographical Point of View, Europe is likely to dominate global in-flight catering market due to growing number of population travelling for tourism and business in the European region. This has further resulted in the growth in the aviation industry in various regions. The various companies of In-flight catering is focusing towards mergers and collaboration and partnership. in the meantime, the growing aviation sector due to growing international travelling in APEJ, majorly in India and China is other driving factor supporting growth of this market in the coming years. Additionally, China is expected to witness second largest source of business level in United States.