Growing number of population preferring air travel in emerging economies of Asia Pacific has been a key driving factor of in-flight catering market in this region. Developments in international tourism as well as aviation industry will possibly continue to augment the market growth. The Asia Pacific in-flight catering market has crossed a value of US$ 4 Bn in 2018, finds a new research study by Fact.MR. With increasing airport count and its developmental projects, China remains in the vanguard of in-flight catering market in the Asia Pacific region. According to the market intelligence research by Fact.MR, China in-flight catering market is likely to worth over US$ 2 Bn in valuation by 2026-end. Further, India and ASEAN market are estimated to expand at significant rate.
As various kinds of inflight-catering services in airlines are offering new business opportunities, service providers are focusing on creating product differentiation and better quality services. In addition, growing domestic as well as international air traffic in the Asia Pacific region is likely to provide lucrative opportunities for in-flight catering market. There has also been a rising demand for main course meals, breakfast, and beverages in airlines propelling the growth of in-flight catering market. Moreover, airlines are improving the in-flight experience of their customers through the catering services such as including three course meals and complementary dishes in long haul flights. Emergence of digitally enabled services and trends of serving continental meals will possibly contribute to the market growth of in-fling catering.
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On the basis of offering, main courses have been envisaged to dominate the Asia Pacific market for in-flight catering. Owing to varying duration and time of flying, breakfast, beverages, and desserts segments are likely to witness significant demand during the assessment period (2018-2026). Although the demand for premium service is on the rise, economic service will continue to hold the largest share in Asia Pacific in-flight catering market. Further, the market will possibly remain consolidated in the low cost carrier over full service and private carrier segments.
According to the Fact.MR’s study, the global outlook of the in-flight catering market will continue to be optimistic, with increasing air travelers for both business and tourism across the globe. The global in-flight catering market is estimated to be valued over US$ 18 Bn in 2018, expanding at a steady 5.3% CAGR over the assessment period. However, growing concerns about hygiene and safety of meals served in flights is expected to create hindrance in the growth of global in-flight catering market.
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While the global in-flight catering market foresees a remarkable growth in the Asia Pacific region, Europe will account for the highest revenue share value, reveals Fact.MR’s study. The report highlights detailed profiles of key players operating in the global in-flight catering market. Some of these players include Emirates Group, HNA Group Co. Ltd., Newrest First Catering Ltd., Flying Food Group, Journey Group Plc., DO & CO Aktiengesellschaft, Deutsche Lufthansa Aktiengesellschaft, Saudi Arabian Airlines Corporation, SATS Ltd., and Universal Weather & Aviation Inc.
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