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(I-TravelNewswire.Com, May 13, 2019 ) Growth in the recent five years is primarily driven by two major factors, i.e. increase number of commercial air travel and partnership between airlines and hotels & chefs.
The global in-flight catering service market is experiencing a steady growth in the current scenario and is anticipated to rise in the coming years. The in-flight catering service market consists of some well-established players across the globe, which invest huge amounts in order to deliver the better quality foods & beverages to their customers. The airlines on the other hand, are procuring the increased number of aircrafts, to meet the growing air passengers across the globe, is also significantly driving the in-flight catering service market.
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Pertaining with the fact of rapid growth in an aviation industry throughout the globe, demand in the procurement of aircrafts has increased. With an aim to match up the growing needs of passengers, production of wide body aircrafts, narrow body aircrafts, business jets, private jets, and regional jets is also rising. In addition this, with an improvement in the GDP of economies, the disposable income of individuals in both developing and developed regions is also increasing across the globe which is growing the demand for airways as a mode of transportation at a similar pace. The individuals are looking ahead to adopt air travel for transportation to reduce the travel time.
The global In-flight Catering Service market is segmented on the basis of catering service which is fragmented into In-house and outsourced catering services. The outsourced catering service segment is leading the market for In-flight catering service followed by in-house catering services. In a current scenario, outsourced catering services is having a high revenue and high market share owing to the fact of urge to reduce additional overheads occurred by the companies and therefore the companies look outside to opt for outsourcing facility by way of building contractual alliances or partnerships with hotels, restaurants, caterers, chefs, and others. Henceforth, adoption of cost-cutting approach is responsible to rise the demand for outsourcing catering services, and due to which the segment is growing at a highest CAGR and is anticipated to dominate the market by 2025. In addition to this, with an increase in the number of air passengers and production of aircraft, in-flight catering services market is expected to nurture in future.
In-flight Catering Service market operates in a highly fragmented industry with large number of local, regional, and international players capturing market place. Key players in the market are collaborating with other providers of In-flight catering service to gain high market share. Some of the key players operating in the In-flight Catering Service market includes Egyptair In-Flight Services, ANA Catering Service Co., Ltd., Newrest Group, Saudi Airlines Catering, SATS Ltd., Flying Food Group, LLC, Emirates Flight Catering, Deutsche Lufthansa AG, DO & CO Aktiengesellschaft, and gategroup among others.
The report segments the global In-flight catering service market as follows:
Global In-flight Catering Service Market – By Catering Service
Global In-flight Catering Service Market – By Catering Types
Global In-flight Catering Service Market – By Aircraft Class
Global In-flight Catering Service Market – By Flight Type
Full Service Carrier
Low Cost Carrier
Global In-flight Catering Service Market – By Geography
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