Rising Construction Activities Drive Growth In The Hotels, Restaurants, And Catering (Horeca) Sector: Powering Innovation and Expansion in the Hotels, Restaurants And Catering (HoReCa) Market by 2025

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What Is the Expected CAGR for the Hotels, Restaurants And Catering (HoReCa) Market Through 2025?
The market size of hotels, restaurants, and catering (horeca) has seen substantial growth in the past few years. It is projected to increase from $3103.6 billion in 2024 to $3304.71 billion in 2025, producing a compound annual growth rate (CAGR) of 6.5%. The historical growth is credited to the flourishing tourism industry, the burgeoning middle class, the expansion of online reservation systems, the surge in corporate events and conferences, the emergence of themed restaurants and boutique hotels, and an increase in health-aware food choices.

What's the Projected Size of the Global Hotels, Restaurants And Catering (HoReCa) Market by 2029?
Expectations are high for robust expansion in the hotels, restaurants, and catering (horeca) market in the ensuing years. The market is projected to soar to $4282.61 billion by 2029, with a compound annual growth rate (CAGR) of 6.7%. Several factors will contribute to this predicted growth during the forecast period, such as higher awareness of health issues, growth in luxury hotel chains, increasing interest in food festivals and events, expansion of co-working spaces within hotels, and a surge in corporate travel. Upcoming trends during this forecast period include the increase in smart kitchen appliances, the rise of online ordering systems, the use of energy management solutions, the implementation of health and safety protocols, the innovative development of plant-based menu options, and the evolution of food delivery and takeaway services.

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Top Growth Drivers in the Hotels, Restaurants And Catering (HoReCa) Industry: What's Accelerating the Market?
The escalation in activities related to construction is projected to fuel the expansion of the hotels, restaurants, and catering (HoReCa) market in the future. These activities span a broad spectrum of tasks needed for constructing, revitalizing, and maintaining structures and infrastructure. The surge in construction undertakings can be attributed to economic development, urbanization, and government schemes and regulations. The HoReCa industry bolsters these construction operations by delivering crucial services that include lodgings, food, and event catering. These services bolster the efficiency of the workforce, smoothens the administration of projects, and aids in the overall culmination of construction ventures while boosting the local economy. For example, as per the data from the Office for National Statistics (ONS), a non-ministerial department based in the UK, the annual new construction orders witnessed a jump of 11.4% in 2022 in comparison to 2021, reaching a record high of £80.837 billion ($102.16 billion). Hence, the ascending trend in construction activities is the driving force behind the growth of the hotels, restaurants, and catering (HoReCa) market.

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What Are the Key Trends Driving Hotels, Restaurants And Catering (HoReCa) Market Growth?
Leading entities within the hotel, restaurant, and catering (HoReCa) industry are prioritizing the creation of innovative solutions like the HACCP Digital Solution for the HoReCa sector. These solutions amplify operational efficiency, refine customer service, and uplift guest experiences. The Hazard Analysis Critical Control Point (HACCP) is a structured food safety technique that assists in the identification and management of risks during the food production and handling process. The utilization of HACCP within the HoReCa sector is indispensable for the assurance of food safety and adherence to health laws. For instance, SATO Europe GmbH, an auto-ID and data collection solutions company based in Germany, introduced an advanced HACCP digital solution for the HoReCa sector in March 2024. This solution augments food safety management with modifiable controls and real-time analysis. This innovative solution fortifies compliance, enhances traceability, and increases operational effectiveness, guaranteeing adherence to superior standards and regulations in the HoReCa industry. The HACCP solution delivers a host of key features such as adaptable self-control parameters designed to fulfill particular operational needs, a user-friendly interface promoting seamless integration into existing workflows, and comprehensive data analytics that encourage informed decision-making.

What Are the Main Segments in the Hotels, Restaurants And Catering (HoReCa) Market?
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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Which Top Companies are Driving Growth 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

Which Regions Will Dominate the Hotels, Restaurants And Catering (HoReCa) Market Through 2029?
Asia-Pacific was the largest region in the hotels, restaurants and catering (HoReCa) market in 2024. 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.

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