What Has Been the Progress and Growth of the Hotels, Restaurants And Catering (HoReCa) Market in Recent Years?
The hotels, restaurants and catering (horeca) market has seen considerable growth due to a variety of factors.
• The hotels, restaurants, and catering (HoReCa) market has experienced strong growth in recent years. It will grow from $3103.6 billion in 2024 to $3325.32 billion in 2025, at a compound annual growth rate (CAGR) of 7.1%.
The growth is attributed to the expansion of the tourism industry, a growing middle class, the rise of online booking platforms, increased corporate events and conferences, the emergence of themed restaurants and boutique hotels, and a shift toward health-conscious eating.
What Can Be Expected from the Hotels, Restaurants And Catering (HoReCa) Market Size?
The hotels, restaurants and catering (horeca) market is expected to maintain its strong growth trajectory in upcoming years.
• The hotels, restaurants, and catering (HoReCa) market is forecasted to grow to $4324.75 billion by 2029, at a CAGR of 6.8%.
Factors contributing to growth include rising health awareness, the expansion of luxury hotel chains, the popularity of food festivals, the growth of co-working spaces in hotels, and increasing corporate travel. Major trends include the adoption of smart kitchen appliances, online ordering systems, energy management solutions, health and safety protocols, plant-based menus, and food delivery services.
What Are the Critical Driver Fuelling The Hotels, Restaurants And Catering (HoReCa) Market's Growth?
The growth of construction activities is anticipated to fuel the expansion of the hotels, restaurants, and catering (HoReCa) market. This growth is attributed to factors like economic development, urbanization, and governmental policies. HoReCa plays a key role in supporting construction by providing essential services such as lodging, meals, and catering, which help improve worker productivity and the success of construction projects. For example, the UK saw a historic 11.4% increase in new construction orders in 2022, reaching £80.837 billion ($102.16 billion), according to the Office for National Statistics (ONS).
How Is The Hotels, Restaurants And Catering (HoReCa) Market segmented?
The hotels, restaurants and catering (HoReCa) market covered in this report is segmented –
1) By Type: Single Outlet, HoReCa Chain
2) By Price Level: Luxury, Upscale, Midscale, Economy
3) By Service: Hotels, Restaurants, Cafes And Pubs
Subsegments:
1) By Single Outlet: Independent Hotels, Standalone Restaurants, Independent Catering Services, Boutique Hotels And Guesthouses
2) By Horeca Chain: Hotel Chains, Restaurant Chains, Catering Chains, International Hospitality Brands
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What New Trends Are Influencing The Hotels, Restaurants And Catering (HoReCa) Market?
Firms active in the hotel, restaurant, and catering (HoReCa) market are prioritizing the creation of cutting-edge solutions like the HACCP Digital Solution for the HoReCa industry to boost operational performance, simplify customer interactions, and enrich guest experiences. HACCP (Hazard Analysis Critical Control Point) is an organized method to food safety that aids in identifying and controlling risks throughout the processes of food manufacturing and manipulation. Its application in the HoReCa sector is key in maintaining food safety and adhering to health guidelines. For example, in March 2024, SATO Europe GmbH, a German innovative auto-ID and data collection solutions company, unveiled an up-to-date HACCP digital solution designed specifically for the HoReCa Sector. This software elevates food security supervision with adjustable controls and immediate analytics. The upgraded solution fortifies compliance, heightens traceability, and amplifies operational productivity, guaranteeing improved standards and regulatory compliance in the HoReCa field. The HACCP software is characterized by numerous notable features, including flexible self-control parameters customized to accommodate specific operational needs, an easy-to-use interface that enables seamless integration into current procedures, and comprehensive data analytics to aid educated decision-making.
Who Are the Key Players In The Hotels, Restaurants And Catering (HoReCa) Market?
Major companies operating in the hotels
• restaurants and catering (HoReCa) market are:
• Performance Food Group Inc.
• The Coca-Cola Company
• Starbucks Corporation
• Inspire Brands Inc
• Burger King Corporation
• McDonald's Corporation
• Marriott International Inc.
• Chick-fil-A Inc
• Little Caesar Enterprises Inc.
• Hilton Worldwide Holdings Inc
• ITC Limited
• Costa Limited
• KFC Corporation
• Hyatt Hotels Corporation
• Domino's Pizza Inc.
• InterContinental Hotels Group PLC
• Papa John's International Inc.
• The Wendy's Company
• Jack in the Box Inc.
• Tata Consumer Products Limited
• Wyndham Hotels & Resorts Inc
• Pizza Hut LLC
• Jubilant FoodWorks Limited
• Subway IP LLC
What Is The Most Dominant Region In The Hotels, Restaurants And Catering (HoReCa) Market?
Asia-Pacific was the largest region in the hotels, restaurants and catering (HoReCa) market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the hotels, restaurants and catering (HoReCa) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
