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Global In-Flight Catering Market Is Projected To Reach USD 13.7 Billion By 2031

In-Flight Catering

A recently published report by Fact.MR reveals that the global in-flight catering market is projected to grow at a modest CAGR of 6.5% during the forecast period (2021-2031), reaching US$ 13.7 Bn. Demand is accelerating on the back of surging air travel across various countries and continents in recent years.

Historical performance of the market estimates that the industry registered a growth rate of 5% from 2016 to 2020. Amid the coronavirus pandemic, demand fell significantly, attributed to suspension of air traffic to prevent further infection spread. As per data published by the International Air Transport Association (IATA), international passenger traffic in 2020 was 75.6% below 2019 levels, while domestic travel fell by 48.8%.

Demand for in-flight catering continues to remain concentrated in the European countries on the back of the increasing number of individuals traveling to Europe by air either for business or tourism. This factor has a dual complementing advantage as it has driven the growth of the aviation industry in Europe that in turn is influencing the use of in-flight catering, promoting the growth of the in-flight catering market in Europe.

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Key Takeaways from the Market Study

“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.

Key Segments Covered

Competitive Landscape

Some of the key players in the market include Gate Gourmet, Saudi Airlines Catering, LSG Group, Dnata, and Servair, Goddard Catering Group, Newrest Catering, Royal Holdings, Journey Group PLC, DO & CO, SATS Ltd, Emirates Flight Catering, and ANA Catering Service Co. Ltd. among others.

 

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