SEATTLE, Nov. 26, 2018 (GLOBE NEWSWIRE) -- The global in-flight catering market was valued at US$ 16.8 billion in 2017 and is projected to exhibit a CAGR of 6.2% during the forecast period (2018–2026).

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Key Trends and Analysis of the In-flight Catering market:

• Rising number of domestic and international air travel is fueling growth of the inflight catering market. For instance, according to domestic air traffic reports, in India passengers carried by domestic airlines during Jan 2017 were 95.79 lakhs as against 76.55 lakhs during previous year (2016), thereby registering a growth of 25.13 %.
• Furthermore, rising consumer spending and affordable air travel in emerging economies is propelling growth of the inflight catering market. For instance, according to International Air Transport Association, the domestic air travel markets in India and China exhibited double-digit annual growth of 23.2% and 12.0% respectively in August 2016.
• Various key players are focused towards increasing the consumer base and global footprint by adopting the strategy of mergers and acquisitions. For instance, in December 2016, acquisition of Servair Group by Gategroup pushed its German competitor and long-time frontrunner Lufthansa off the top spot in the inflight catering industry.

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Key Market Takeaways:

• Europe held significant market share in the global inflight catering market in 2017, owing to rising number of people travelling to European countries. For instance, World Tourism Organization’s report on European Union Tourism Trends 2016, Europe continued to stand as the most visited region, welcoming half of the world’s international tourist arrivals. Within Europe, the 28 countries of the European Union account for the bulk of the region’s international arrivals, some 81% of Europe’s total and 40% of the world’s figure.
• Some of the major players operating in the global inflight catering market include SATS ltd., Gate Gourmet, LSG Sky Chefs, DO & CO Aktiengesellschaft, NewrestInternational Group, Emirates Flight Catering, Flying Food Group, Journey Group plc, and DubaiNational Air Transport Association

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