Market Research Future Published a Cooked Research “Global Inflight Catering Service Market Research Report - Forecast to 2021” - Market Analysis, Scope, Stake, Progress, Trends and Forecast up to 2021.
Pune, Maharashtra -- (SBWIRE) -- 01/16/2018 -- Market Highlights:
The global aviation market is growing at a slow pace around the world. Airbus alone generated a backlog of 6,787 aircraft, which represents almost ten years' worth of production. Even Boeing, which has fallen behind Airbus in recent times in terms of orders received, has accumulated a backlog of more than 4000 planes, of which 75% of the planes are the upcoming 737 MAX airplanes. This factor will limit the growth of the aircraft catering services market, as a number of new airplanes coming into the market each year will be of a limited amount, and the rate of growth of units sold will be almost constant up until 2020. Low-cost carriers, which presently control 1/4th of the total airline market are expected to grow rapidly at the expense of full-service carriers and are expected to hold close to 14% market share of in-flight catering services by 2020.
A major income of the aircraft catering services comes from full-service carriers. Their slowing growth rates in comparison to the low-cost carriers would limit the growth in the aircraft catering services market. Commercial aviation is a highly competitive business and carriers have to stay ahead of the game in order to retain market share. The expectations of passengers flying in full fare airlines are rising and carriers will continue to invest higher amounts of capital in this sector.
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Major Key Players
Do & Co
Egypt Air In Flight Services
Emirates Flight Catering
Global In-Flight Catering Service Market is forecasted to demonstrate a spectacular growth by 2021, surpassing its previous growth records in terms of value with a striking 5% of CAGR during the projected period (2016 -2021).
Latest Industry News:
Sep 2017 As part of the airline's £400m (US$517m) soft product revamp of its business class cabin, British Airways has extended its partnership with DO & CO, a company with one of the best reputations for quality inflight catering in the industry. Due to the importance of these crucial flights on the boundary between midhaul and longhaul, DO & CO will launch the service by catering all British Airways flights from London Heathrow and London City to New York JFK, as well as from London to Chicago O'Hare, in first and business classes.
Oct 2017 Flag carrier Singapore Airlines (SIA) announced that it will use more sustainable ingredients in its in-flight meals as part of its efforts to promote environmental sustainability and support local farmers. SIA announced its new From Farm to Plane initiative on the sidelines of the World Gourmet Forum in Kranji. Under the new initiative, SIA said it will use more sustainable and "meatless" ingredients in its in-flight meals.
Mar 2017 Biman Bangladesh Airlines introduced new meals and entertainment packages for business class passengers on Dhaka-London-Dhaka route. Biman has decided to bring diversity to foods and services every three months so that passengers can enjoy their flights. Biman Flight Catering Centre (BFCC) is providing foods to Malaysia Airlines, Cathey Pacific, Turkish Airlines and Dragon Air. It also supplies foods to 14 more airlines on casual basis. BFCC prepares around 8,500 meals a day. The number reaches up to 12,000 during operation of hajj flights.
Nov 2017 Chinese conglomerate HNA Group is considering an initial public share offering for Gategroup Holding, the airline caterer it bought for US$1.5 billion in cash last year in a deal that is facing regulatory scrutiny from the Swiss authorities. Zurich-based Gategroup, the world's second-largest air caterer, said Tuesday that it and its main shareholder, HNA Aviation Air Catering (Hong Kong), were evaluating the SIX Swiss Exchange in Zurich as a potential listing location, but the structure and timing of any IPO were yet to be determined.
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In-Flight Catering Service Market - Regional Analysis
The regional analysis of global in-flight catering service market is being studied for regions such as Asia Pacific, North America, Europe and Rest of the World. APAC will dominate the market in the forecast period growing at a CAGR of around 6%, followed by Americas and EMEA. Rapid urbanization, resurgence in discretionary spending, increase in international travel and tourism attributed to Rising GDP, and consequently, 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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