HoReCa Market Set to Reach USD 3.88 Trillion by 2030

𝐇𝐨𝐑𝐞𝐂𝐚 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐨𝐢𝐬𝐞𝐝 𝐟𝐨𝐫 𝐒𝐢𝐠𝐧𝐢𝐟𝐢𝐜𝐚𝐧𝐭 𝐆𝐫𝐨𝐰𝐭𝐡 𝐛𝐲 𝟐𝟎𝟑𝟎

The global HoReCa (Hotels, Restaurants, and Catering) market is on a robust growth trajectory, with its size valued at USD 3.02 trillion in 2023. Projections indicate a compound annual growth rate (CAGR) of 3.64% from 2024 to 2030, anticipating the market to reach approximately USD 3.88 trillion by 2030.

𝐊𝐞𝐲 𝐃𝐫𝐢𝐯𝐞𝐫𝐬 𝐨𝐟 𝐌𝐚𝐫𝐤𝐞𝐭 𝐄𝐱𝐩𝐚𝐧𝐬𝐢𝐨𝐧

The HoReCa sector's expansion is largely attributed to the development of restaurants and food outlets. For instance, the Indian hospitality industry experienced a revenue per available room (RevPAR) growth of 100.3% year-on-year in the fourth quarter of 2021. Similarly, sales at U.S. eating and drinking establishments increased by 10.2% to $548.3 billion in 2021, reflecting consumers' renewed interest in dining experiences post-pandemic.

𝐆𝐞𝐭 𝐲𝐨𝐮𝐫 𝐬𝐚𝐦𝐩𝐥𝐞 𝐜𝐨𝐩𝐲 𝐨𝐟 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭 𝐧𝐨𝐰: https://www.maximizemarketresearch.com/request-sample/221480/

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐚𝐧𝐝 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭𝐬

𝙃𝙤𝙍𝙚𝘾𝙖 𝙈𝙖𝙧𝙠𝙚𝙩 𝙊𝙥𝙥𝙤𝙧𝙩𝙪𝙣𝙞𝙩𝙞𝙚𝙨 𝙞𝙣 𝙑𝙞𝙚𝙩𝙣𝙖𝙢

Vietnam's HoReCa sector is experiencing rapid growth, driven by increasing urbanization and a burgeoning middle class. The rise in disposable income has led to a surge in dining-out culture, fostering opportunities for both local and international players in the market.

𝙃𝙤𝙍𝙚𝘾𝙖 𝙈𝙖𝙧𝙠𝙚𝙩 𝙂𝙧𝙤𝙬𝙩𝙝 𝙞𝙣 𝙏𝙝𝙖𝙞𝙡𝙖𝙣𝙙

Thailand's hospitality industry is rebounding, with a notable increase in tourist arrivals. The government's initiatives to promote tourism have positively impacted the HoReCa sector, leading to increased investments and expansion of services.

𝑯𝒐𝑹𝒆𝑪𝒂 𝑴𝒂𝒓𝒌𝒆𝒕 𝑻𝒓𝒆𝒏𝒅𝒔 𝒊𝒏 𝑱𝒂𝒑𝒂𝒏

In Japan, there is a growing trend towards incorporating technology in the HoReCa sector. The adoption of automation and AI to enhance customer experience is becoming prevalent, with establishments focusing on efficiency and personalized services.

𝙃𝙤𝙍𝙚𝘾𝙖 𝙈𝙖𝙧𝙠𝙚𝙩 𝘾𝙤𝙣𝙨𝙤𝙡𝙞𝙙𝙖𝙩𝙞𝙤𝙣 𝙞𝙣 𝙎𝙤𝙪𝙩𝙝 𝙆𝙤𝙧𝙚𝙖

South Korea's HoReCa market is witnessing consolidation, with major players engaging in mergers and acquisitions to strengthen their market position. This trend is leading to the emergence of larger entities capable of offering diverse and high-quality services.

𝙃𝙤𝙍𝙚𝘾𝙖 𝙈𝙖𝙧𝙠𝙚𝙩 𝙐𝙥𝙙𝙖𝙩𝙞𝙤𝙣 𝙞𝙣 𝙎𝙞𝙣𝙜𝙖𝙥𝙤𝙧𝙚

Singapore's HoReCa sector is undergoing significant updates, with a focus on sustainability and innovation. Establishments are adopting eco-friendly practices and integrating advanced technologies to meet the evolving preferences of consumers.

𝙃𝙤𝙍𝙚𝘾𝙖 𝙈𝙖𝙧𝙠𝙚𝙩 𝙊𝙥𝙥𝙤𝙧𝙩𝙪𝙣𝙞𝙩𝙞𝙚𝙨 𝙞𝙣 𝙩𝙝𝙚 𝙐𝙎

The U.S. HoReCa market is expanding, with a notable increase in sales at eating and drinking establishments. The industry's growth is supported by consumers' renewed interest in dining experiences post-pandemic.

𝑯𝒐𝑹𝒆𝑪𝒂 𝑴𝒂𝒓𝒌𝒆𝒕 𝑮𝒓𝒐𝒘𝒕𝒉 𝒊𝒏 𝑪𝒉𝒊𝒏𝒂

China's HoReCa sector is experiencing significant growth, driven by urbanization and increasing consumer spending on dining and hospitality services. The market is attracting substantial investments, leading to the expansion of both domestic and international brands.

𝑯𝒐𝑹𝒆𝑪𝒂 𝑴𝒂𝒓𝒌𝒆𝒕 𝑻𝒓𝒆𝒏𝒅𝒔 𝒊𝒏 𝑬𝒖𝒓𝒐𝒑𝒆

Europe's HoReCa market is characterized by a resurgence in tourism and a shift towards sustainable practices. Establishments are focusing on eco-friendly initiatives and enhancing customer experiences to cater to the evolving preferences of consumers.

𝐓𝐨 𝐟𝐢𝐧𝐝 𝐦𝐨𝐫𝐞 𝐢𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧 𝐚𝐛𝐨𝐮𝐭 𝐭𝐡𝐢𝐬 𝐫𝐞𝐬𝐞𝐚𝐫𝐜𝐡, 𝐩𝐥𝐞𝐚𝐬𝐞 𝐯𝐢𝐬𝐢𝐭: https://www.maximizemarketresearch.com/request-sample/221480/

𝐇𝐨𝐑𝐞𝐂𝐚 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

𝒃𝒚 𝑻𝒚𝒑𝒆

Single outlet
HoReCa chain

𝒃𝒚 𝑺𝒆𝒓𝒗𝒊𝒄𝒆𝒔

Restaurants
Hotels
Cafes and pubs

In terms of type, the single outlet segment accounted for over 60.78% of the global HoReCa market in 2023. The segment is also anticipated to expand at a CAGR of 4.12% over the course of the projection period, per the MMR analysis. In sharp contrast to the sometimes viewed impersonal character of larger chains, single locations are excellent at creating a feeling of community and individualised client interactions. Single shops become friendly havens for discriminating diners looking for more than just a meal by offering personalised recommendations, interacting with patrons personally, and establishing a distinctive ambiance.Single shops' dominance in the HoReCA market is evidence of their adaptability, agility, specialised knowledge, community involvement, and personalised service.

𝗧𝗼 𝗱𝗲𝗹𝘃𝗲 𝗱𝗲𝗲𝗽𝗲𝗿 𝗶𝗻𝘁𝗼 𝘁𝗵𝗶𝘀 𝗿𝗲𝘀𝗲𝗮𝗿𝗰𝗵, 𝗸𝗶𝗻𝗱𝗹𝘆 𝗲𝘅𝗽𝗹𝗼𝗿𝗲 𝘁𝗵𝗲 𝗳𝗼𝗹𝗹𝗼𝘄𝗶𝗻𝗴 𝗹𝗶𝗻𝗸: https://www.maximizemarketresearch.com/request-sample/221480/

𝐇𝐨𝐑𝐞𝐂𝐚 𝐌𝐚𝐫𝐤𝐞𝐭, 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬:

1. Chick fil A Inc.
2. Dominos Pizza Inc.
3. Hilton Worldwide Holdings Inc.
4. Hyatt Hotels Corp.
5. Inspire Brands Inc.
6. InterContinental Hotels Group Plc, ITC Ltd.
7. Jack in the Box Inc.
8. Little Caesar Enterprises Inc.
9. Marriott International Inc.
10. McDonald Corp.
11. Papa Johns International Inc.
12. Performance Food Group Co.
13. Restaurant Brands International Inc.
14. Starbucks Corp.
15. Tata Sons Pvt. Ltd.
16. The Coca Cola Co.
17. Pizza Hut
18. The Wendys Co.
19. Wyndham Hotels and Resorts Inc
20. YUM Brands Inc.

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