Global HoReCa Market Size Study, by Service Type (Hotels, Restaurants, Cafes and Pubs), by Category (Single Outlet, HoReCa Chain), and Regional Forecasts 2022-2032

Global HoReCa Market Size Study, by Service Type (Hotels, Restaurants, Cafes and Pubs), by Category (Single Outlet, HoReCa Chain), and Regional Forecasts 2022-2032

The Global Horeca Market was valued at approximately USD 3,412.31 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 6.59% during the forecast period from 2024 to 2032. The HoReCa represents hotels, restaurants, and cafes, which are critical segments within the hospitality industry. The primary factors driving this market's growth include the expanding number of food establishments, rising demand for processed foods, and a growing preference for dining out among millennials. Seasonal tourism trends, corporate travel, and the development of infrastructure to support tourism are other factors bolstering the market. Additionally, partnerships and collaborations between hotels and local food establishments are creating synergistic opportunities within the market.

The robust growth in the HoReCa sector is fueled by increasing consumer expenditure on dining and food delivery services. The surge in the number of working couples and the adoption of Western culture, which promotes dining out and convenience food, are significant contributors to this trend. The development of new technologies in commercial kitchen equipment and the emergence of smart hospitality solutions are also propelling market growth. Moreover, government initiatives and regulations focused on food safety and hygiene standards are further enhancing market expansion. Furthermore, the global tourism industry's growth significantly impacts the HoReCa market as well. The influx of domestic and international tourists increases the demand for hotels, restaurants, and cafes, especially in popular tourist destinations. However, challenges such as high competition among food service providers and stringent government regulations on food safety and hygiene restrain growth during the forecast period 2024-2032.

The key region in the Global HoReCa Market includes North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In 2023, North America is expected to lead the HoReCa market due to its advanced infrastructure and high consumer spending on dining and hospitality services. The region benefits from a high demand for diverse dining experiences and premium accommodation services, driven by both domestic and international tourism. Additionally, technological advancements in service delivery and the growing trend of personalized customer experiences further fuel market growth. The presence of major food service companies and innovative catering solutions enhances North America's leadership in the HoReCa sector, making it a dominant player in the global market. Europe follows closely, with a significant market share driven by the region's rich culinary traditions and robust tourism sector. The Asia-Pacific region is anticipated to witness the fastest growth, attributed to increasing urbanization, rising disposable incomes, and a booming tourism industry.

Major market players included in this report are:

McDonald’s Corporation

Subway IP LLC

KFC Corporation

Pizza Hut

Burger King Company LLC

Yum! Brands RSC

Jubilant FoodWorks Ltd

Starbucks Coffee Company

Costa Coffee

Papa John’s International, Inc.

The detailed segments and sub-segment of the market are explained below:

By Service Type

Hotels

Restaurants

Cafes and Pubs

By Category

Single Outlet

HoReCa Chain

By Region:

North America

U.S.

Canada

Europe

UK

Germany

France

Spain

Italy

ROE

Asia Pacific

China

India

Japan

Australia

South Korea

RoAPAC

Latin America

Brazil

Mexico

Rest of Latin America

Middle East & Africa

Saudi Arabia

South Africa

RoMEA

Years considered for the study are as follows:

Historical year – 2022

Base year – 2023

Forecast period – 2024 to 2032

Key Takeaways:

Market Estimates & Forecast for 10 years from 2022 to 2032.

Annualized revenues and regional level analysis for each market segment.

Detailed analysis of geographical landscape with country-level analysis of major regions.

Competitive landscape with information on major players in the market.

Analysis of key business strategies and recommendations on future market approach.

Analysis of competitive structure of the market.

Demand side and supply side analysis of the market.

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