The Latin America inflight services market size was USD XX Billion in 2022 and is likely to reach USD XX Billion by 2031, expanding at a CAGR of 6% during 2023–2031. The growth of the market is attributed to growing domestic and international travel and tourism and rising aviation industry.
Over the last few years, Latin America's aviation sector has developed at a gradual rate. The yearly passenger traffic has increased somewhat during the last three years. In 2019, Latin American passenger traffic was more over 375 million, with domestic carriers accounting for around 76% of the total.
Historically, the aviation sector in Latin America has been highly regulated, with high entry barriers and national carrier protectionism. There has been a revolutionary change gradually, owing to the widespread implementation of open skies deals.
With the launch of more than 270 new domestic and international routes as a result of favorable government efforts, the region's connectivity has improved. Moreover, increasing investments in key aviation infrastructure in existing and new airports in order to properly handle fast-expanding passenger traffic are projected to drive the region's aviation sector.
The Covid-19 pandemic affected the demand and supply of Latin America inflight services market. Lockdown across the globe, supply chain disorders, and oscillating supply of raw materials forced manufacturers to shut down production leading to unfortunate decline in market growth. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.
Latin America Inflight Services Market Trends, Drivers, Restraints, and Opportunities
-
Factors such as aviation's technological advancements, best practices, and safety requirements are projected to drive the market in the coming years.
-
Rapid growth of the travel and tourism industry in the region is the key factor boosting the market during the forecast period.
-
High fuel price and fluctuating commodity cost of product are estimated to hamper the market growth.
-
Travel restrictions act as major factors that can hinder the market expansion.
-
Airport development and expansion plans are estimated to offer significant opportunities for the market players.
Scope of Latin America Inflight Services Market Report
The report on the Latin America inflight services market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
|
Attributes
|
Details
|
|
Report Title
|
Latin America Inflight Services Market - Industry Analysis, Growth, Share, Size, Trends, and Forecast
|
|
Base Year
|
2022
|
|
Historic Data
|
2016–2021
|
|
Forecast Period
|
2023–2031
|
|
Segmentation
|
Flight Services Types (Low-cost Carriers, Full-Service Carriers, Hybrid, and Others), Food Types (Bakery, Meals, Beverages, Confectionery, and Others), Aircraft Seating Class (First Class, Business Class, and Economy Class)
|
|
Regional Scope
|
Latin America
|
|
Report Coverage
|
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
|
|
Key Players Covered in the Report
|
Air Culinaire Worldwide LLC; Newrest Group; LSG Sky Chefs; gategroup; GCG Catering
|
Latin America Inflight Services Market Segment Insights
The low-cost carrier’s segment is projected to represent a large market share
Based on flight services types, the Latin America inflight services market is divided into low-cost carriers, full-service carriers, hybrid, and others. The low-cost carrier’s segment is expected to represent a key share of the market during the forecast period owing to Healthy competition among low-cost carriers and growing number of middle-income passengers.
The meal’s segment is expected to expand at a significant pace
On the basis of food types, the Latin America inflight services market is segmented into bakery, meals, beverages, confectionery, and others. The meal segment is expected to hold a key share of the market during the forecast period owing the growing passenger traffic and initiatives, such as introduction of free inflight meals.
The economy class segment is anticipated to expand at a rapid CAGR
In terms of aircraft seating class, the Latin America inflight services market is segmented into first class, business class, and economy class. The economy class segment is expected to represent a key share of the market during the forecast period owing to low-cost carriers are becoming more competitive.
Segments
Flight Services Types
- Low-cost Carriers
- Full-Service Carriers
- Hybrid
- Others
Food Types
- Bakery
- Meals
- Beverages
- Confectionery
- Others
Aircraft Seating Class
- First Class
- Business Class
- Economy Class
Region
Key Player
- Air Culinaire Worldwide LLC
- Newrest Group
- LSG Sky Chefs
- Gategroup
- GCG Catering
Competitive Landscape
Key players competing in the Latin America inflight services market include Air Culinaire Worldwide LLC; Newrest Group; LSG Sky Chefs; gategroup; GCG Catering.
Consumers in Latin America demand ethically produced and nutritious food items which caterers and carriers bear in mind when designing value addition and service distinction.
Catering companies also consider the tastes of economy class passengers when creating menus, as economy class flights are growing increasingly popular among individuals in the region.
Request For Customization
Enquiry Before Buying
Speak With Analyst
