Belgium HRI Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Belgium HRI Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Belgium HRI market is projected to grow, witnessing a CAGR of 4.10% during the forecast period (2020-2025).

Key Highlights

• Cafes and bars are playing a major role in the Belgium HRI market due to high popularity of juice/smoothie bars and specialist coffee shops in the country. This is due to increasing demand of consumers toward fresh and healthy ingredients in their beverages, thereby, driving them toward cafes offering beverages made from natural ingredients.
• Expansion of business through outlet installation or menu advancement, both have contributed the Belgium HRI market. The global chained restaurants are expanding their business in the country owing to the presence of high-income group and growing demand for international fast food, specifically US-based food. For instance, on August 2019, British sandwich chain, Pret A, Manger announced to expand its chains to Belgium with its first two Belgian restaurants locate in Central and South railways of Brussels.

Key Market TrendsInstitutional (Catering) is Projected to Record a Significant Growth

Belgium, being a well-developed country, comprises high-income group together with hectic consumers raising the demand for natural, fresh, balanced, and innovative food daily delivered to their workplace. The institutional catering segment of the country is experiencing an upward thrust in the revenue graph and number of service providers, aided by service providers collaborating with diverse institutional kitchens, including company canteens, restaurants of public institutions, hospitals, educational institutions, etc. The institutional catering segment is projected grow at a CAGR of 4.59% during the forecast period 2020-2025.

Increasing Number Of Establishments In Belgian Market

According to Brussels Horeca Federation, nearly thousand catering outlets were launched in the Brussels region over the last 10 years, an insufficient quantity to fulfill the consumer demand. Besides, decline in the alcohol consumption together with rise of stay-at-home culture has affected the volume sales of alcohol and number of bars. Consequently, the utmost growth opportunities for the pub, club, and bar channel may be focused to tourism hot spots. However, the overall establishments in the HRI industry has witnessed an extensive growth driven by consumer demand and purchasing power.

Competitive Landscape

The key players engaged in HRI market of the Belgium are Yum! Brands, Inc., McDonald's Corporation, Domino's Pizza, Inc., Starbucks Corporation, Restaurant Brands International Inc., Doctor's and others. Notably, McDonald's is the most popular quick-service restaurant among the Belgian consumers.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

Yum! Brands, Inc.
McDonald's Corporation
Domino's Pizza, Inc.
Starbucks Corporation
Restaurant Brands International Inc.
Doctor's Associates Inc.
Chez Léon

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