Asia Pacific In-Flight Catering Services Market is estimated to grow at a CAGR of 14.1% during the forecast period. Asia Pacific In-Flight Catering Services Market is expected to reach US$ 6.19 Bn. in 2027 from US$ 2.81 Bn in 2021.
The Asia-Pacific inflight catering market is now being driven by a growing emphasis on customer-centric meal menus, with most airlines introducing new items to their menus with the goal of providing customers with higher quality food while keeping their tastes in mind. The introduction of new locations and long-haul flights may generate future potential for the Asia-Pacific inflight catering market, as air travel in this region grows.
Asia Pacific In-Flight Catering Services Market Report Scope and Research Methodology:
Industrial construction is expected to dominate the Asia Pacific In-Flight Catering Services Market by industry vertical, as industrial construction is expected to grow in the Asia-Pacific market. a number of countries, including the Bale out of the omino A total of USD 24.67 billion in foreign direct investment has been made in India for construction activities (including townships, built-up infrastructure and construction- development projects). Over the next seven years, the government expects to invest around USD 1.3 trillion in housing, with 60 million new dwellings built. In India, the availability of affordable housing is expected to increase by roughly 70% by 2024.
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Asia Pacific In-Flight Catering Services Market Overview:
SMR published a report on Asia Pacific In-Flight Catering Services Market. The Asia Pacific In-Flight Catering Services market report is a combination of primary data and secondary data, and domain expert has analysed the market from local as well as point of view. As per the report, the Asia Pacific In-Flight Catering Services market is expected to grow at a high rate during the forecast period.
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Asia Pacific In-Flight Catering Services Market Key Players:
Flying Food Group LLC (U.S.)
Gate group (Switzerland)
Lufthansa Service Holding AG (Germany)
Journey Group PLC (U.K.)
Fleury Michon America (Canada)
Delta Dailyfood Canada Inc (Canada)
Asia Pacific In-Flight Catering Services Market Drivers:
The Asia-Pacific market for hybrid and other flight types is expected to grow at the fastest rate during the forecast period. This section includes catering on hybrid business model airlines, charter flights, and private jets. Despite the fact that the segment's sales are now the lowest, the segment's high expected growth is primarily due to the growing demand for hybrid carriers and their increased market penetration in the region. To maximize profit, these hybrid carriers combine low-cost carrier characteristics with those of full-service carriers. In addition, new hybrid airlines are launching operations in this region to meet the growing demand for foreign passengers.
Asia Pacific In-Flight Catering Services Market Segmentation:
The Asia Pacific In-Flight Catering Services Market is divided into three categories: Economy Class, Business Class, and First Class. Because the majority of the population in this region consists of middle-class families, Economy Class remains the most popular option among frequent flyers, dominating the industry. Passengers' rising expectations for healthy meals will increase demand for in-flight food, regardless of seating class. Furthermore, rising global health consciousness is forcing Asia Pacific in-flight catering market participants to reconsider their strategy.
According to Source, the Asia Pacific In-Flight Catering Services market is divided into two segments: in-house and outsourced. The outsourcing segment is expected to dominate the market for in-flight food services. Because of the availability of a diverse range of international cuisines and meals, the majority of airlines and private aircraft in Asia Pacific are expected to opt for in-flight catering service over the forecast period. Government-mandated food safety and hygiene regulations would increase demand for outsourced in-flight catering services, necessitating extensive food safety certification. Major airlines have strong contracts with in-flight catering service providers, which means that demand for outsourced food products will increase over the forecast period.
The Asia Pacific In-Flight Catering Services market is classified into Meal, Bakery & Confectionery, Beverages, and Others. Meals are expected to dominate the market. Passenger demand for meals on board is driving the expansion of the in-flight catering industry. One of the primary reasons for increased meal demand is increased traffic on long-haul flights, which has remained critical in driving massive demand for in-flight catering services. Airlines serve three-course meals with beverages and salads as sides. Because of the combined benefits, this aspect has significantly increased demand for meals.
Asia Pacific In-Flight Catering Services Market Regional Insights:
Geographically, the report is segmented into several key countries, with market size, growth rate, import and export of Asia Pacific In-Flight Catering Services market in these countries, which covering North America, U.S., Canada, Mexico, Europe, UK, Germany, France, Spain, Italy, Rest of Europe, Asia Pacific, China, India, Japan, Australia, South Korea, ASEAN Countries, Rest of APAC, South America, Brazil, and Middle East and Africa.
Key Questions answered in the Asia Pacific In-Flight Catering Services Market Report are:
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Asia Pacific In-Flight Catering Services Market , Europe Big Data Market
Established in 2018, Stellar Market Research is India Based consulting and advisory firm focused on helping clients to reach their business transformation objectives with advisory services and strategic business.
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Mar 19, 2023
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