HoReCa Market, Future Trends, Growth Insights, Key Players, and Industry Dynamics by 2027

Market Scope

Food makers, food distributors, and foodservice operators are increasingly combining culinary expertise, industry experience, and strategic marketing in the HoReCa industry leading to its growth. As per MRFR, the market is estimated to gain an income of USD 2.38 trillion while developing at a CAGR of 3.15% by 2028.

The tendency for fast food and out-of-home eating has increased as people’s lifestyles and schedules have become more chaotic. Despite the success of huge hotels, the presence of uncontrolled small, independent fast-food chains and franchises and family-owned businesses is limiting the global growth of the HoReCa market.

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Key Players

The promising companies in the HoReCa market are Hyatt Hotels Corporation (US), Yum! Brands, Inc. (US), Marriott International, Inc. (US), InterContinental Hotels Group plc (UK), McDonald’s Corporation (US), Restaurant Brands International Inc. (Canada), Hilton Worldwide Holdings Inc. (US), Wyndham Hotel Group, LLC (US), Inspire Brands, Inc. (US), The and Coca-Cola Company (Costa Coffee) (US).

Market Segment

The segmental scrutiny of the HoReCa market is conducted based on service type, category, and region. The service type segment of the HoReCa market consists of restaurants, hotels, and cafés & pubs. The region segment of the HoReCa market consists of North America, Europe, Asia-Pacific, other regions. The category segment of the HoReCa market consists of a single outlet and an HoReCa chain.

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Regional Analysis:

In the forecast period, the worldwide HoReCa market was dominated by North America. The strong real estate business, the presence of well-known hotel brands, and Americans’ demanding schedules have all impacted their way of life. The region’s growing demand for HoReCa has been fueled by the region’s thriving travel and tourism industry, which has increased the number of emigrants; the presence of diverse food culture and a wide range of cuisines; and the presence of diverse food culture and wide availability of a range of cuisines. Asia-Pacific is a new revenue source for the hospitality industry. China’s and India’s rising populations have created a rewarding market for current companies.  Growing awareness of international cuisine and culture and a willingness to try new foods have spurred regional market expansion. HoReCa’s appealing seasonal deals and happy hour discounts also contribute to the market’s growth in Asia-Pacific.

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