HoReCa Market Insights:
According to MRFR analysis, the HoReCa market is expected to register a CAGR of~3.15% from 2021 to 2028 and hold a value of over USD 2.38 trillion by 2028.
HoReCa is an acronym that stands for “Hotel, Restaurant, and Catering.” The HoReCa Market refers to a broad sector of the food service industry that includes businesses that provide food and beverage services in a variety of settings, such as hotels, restaurants, cafes, bars, catering companies, and other food service establishments. The HoReCa market is an important segment of the hospitality industry and is an essential part of the overall economy, providing employment opportunities and generating revenue. The market is highly competitive, and businesses must continually innovate and adapt to changing consumer preferences and trends to remain successful.
The COVID-19 pandemic has had a significant impact on the HoReCa market. Government restrictions on travel, social distancing, and lockdown measures have significantly reduced demand for hotel and restaurant services. The pandemic has also led to a decrease in business travel and tourism, which has further impacted the hotel and restaurant industry.
Many HoReCa businesses have had to close their doors temporarily or permanently due to the pandemic’s impact. Those that remain open have had to adapt to new health and safety protocols, including increased cleaning and sanitation measures.
Request for a free sample copy of this report: https://www.marketresearchfuture.com/sample_request/10535
Key Players:
Some of the key market players are: Yum! Brands Inc.(US), Hyatt hotels corporation(US), Wyndham Hotels Group LLC(US), Inspire brands Inc.(US), The coca-cola company(US), Hilton worldwide Holding Inc.(US), Mcdonald’s corporation(US)
Market Segmentation:
The HoReCa market has been segmented into type and category.
Based on the type, the market has been segmented into hotels, restaurants, cafes and pubs.
Based on the category, the market has been segmented into single outlet and horeca chain.
Request Customized Copy of HoReCa Market Report @ https://www.marketresearchfuture.com/reports/horeca-market-10535
Here are some of the key opportunities in the HoReCa market in 2023:
Regional Analysis:
Asia-Pacific region is the largest market for the HoReCa industry, with a share of over 40% of the global market. This is due to the large population and economic growth in countries such as China, India, and Japan.
The Asia-Pacific region is home to some of the world’s most populous countries, such as China and India, which contribute to the large size of the region’s foodservice industry. There is a growing middle class in many countries in the region, which is driving demand for dining out and other foodservice experiences.
Some of the key trends in the HoReCa market in 2023 include:
Discover More Research Reports on Consumer and Retail Industry, by Market Research Future:
Quick Service Restaurants Market Research Report Information By Service Type (Self-serviced, Assisted self-serviced, Fully serviced), By Category (Single Outlet, QSR Chain), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) – Market Forecast Till 2030
Used Cooking Oil Market Research Report: Information by Source (Food Manufacturers, HORECA, household, and others), By Application (Biodiesel, Oleo chemical Products, Animal Feed, and others), and By Region (North America, Europe, Asia-Pacific, And Rest of the World) – Market Forecast Till 2030.
About Market Research Future:
Market Research Future (MRFR) is a world-renowned market research company that offers a wide range of services, complete with accurate and precise analysis about diverse markets, sub-markets and target consumers. Our approach is a combination of extensive information and multiple data sources that help provide an exhaustive comprehension about the latest major developments to the client, in addition to future events and what measures and decisions to take on the basis of the same.
Our fast-emerging market research firm is armed with an adept research analysts’ team that focuses on gathering useful data and analytics in terms of economic and technological advances. Our proficient analysts conduct industrial visits in a bid to achieve reliable and accurate information from established market participants. One of our foremost objectives is to keep the client well-versed with all the lucrative opportunities as well as challenges surrounding various global markets. We offer step-by-step guidance to our clients, through consulting and strategic services, enabling them to arrive at a practical and effective decision.