Rapid Unit Sales Of In-Flight Catering Market To Account For Incremental Revenues In Global Market : Fact.MR

The unprecedented COVID-19 pandemic has affected the global economy to a great extent. Considering the food industry, one of the most important sectors of the economy, a tremendous impact has been witnessed on the entire process from the field to the consumer. The restrictions in the movement of workers, closure of food production facilities, and changes in consumer demand have put excessive pressure on the food industry. The report offers actionable and valuable market insights of In-Flight Catering. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of In-Flight Catering Market across various industries and regions.

The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of In-Flight Catering market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of In-Flight Catering

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InFlight Catering Industry Analysis

The global In-flight catering market exceeding a valuation of around USD 7.3 billion by 2021, and it is projected to reach USD 13.7 billion by 2031, registering a CAGR of 6.5% during the forecast period 2021-2031.

Key Segments Covered

• Offering Type
  • Main Course In-Flight Catering
  • Beverages In-Flight Catering
  • Breakfast In-Flight Catering
  • Starters & Platters In-Flight Catering
  • Desserts In-Flight Catering
• Service Type
  • In-Flight Catering for Full Service Carriers
  • In-Flight Catering for Low-Cost Carriers
• Airline Category
  • Economy Class In-Flight Catering
  • Business Class In-Flight Catering
  • First Class In-Flight Catering
• Provider Type
  • In-Flight Culinary Only Provider
  • In-Flight Culinary & On-Board Supplies Provider
  • In-Flight Complete Solution Provider

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Competitive Landscape

The competitive landscape of the in-flight catering market is shaped by product innovation and strategic mergers & acquisitions. Frontrunners are emphasizing capacity enhancements and global footprint expansion to leverage lucrative prospects in developing economies. Some notable developments are as follows:

• In May 2021, Emirates Flight Catering owned Foodcraft collaborated with noon Daily, noon.com’s dedicated grocery platform. The objective of this partnership was to enhance delivery outreach during the festival of Eid, for which the company released a new range of frozen ready-to-cook meals

Since November 2021, Newrest First Catering has officially begun providing catering services to United Airlines in Houston, Texas. As part of its contract, the company provided catering and logistic solutions to 427 aircrafts flying domestic and international routes. In the future, the company expects to supply 15,000 meals per day, to a maximum of 500 flights

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Key Takeaways from the Market Study

• Global market for in-flight catering to be valued at US$ 7.3 Bn in 2021
• U.S to be the most opportunistic market for in-flight catering, generating 35% of global revenue
• Burgeoning tourism to encourage air travel across India, prompting in-flight catering services, expected to capture 30% of revenue
• U.K likely to contribute 1/3rd of the global revenue for in-flight catering services
• Low-cost carriers remain highly preferred among frequent flyers, projected to touch nearly US$ 10 Bn by 2031.
• In-flight catering for main course foods to accelerate at a CAGR of 5% from 2021-2031

“With low-cost airline carriers swiftly capturing a major chunk of the revenue pie, prominent in-flight catering service providers are introducing appropriate foodservices, partnering with prominent food distribution channels,” says the Fact.MR analyst.

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