Latest News- HoReCa Market: Single outlet is expected to lead the Type segment during 2025-2029

The HoReCa Market is being driven by Increasing demand for healthier food options and accommodations

The HoReCa Market is expected to grow at a CAGR of 3% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 319.9 billion. The HoReCa industry has undergone a significant transformation through the integration of technology. This technological evolution has led to enhanced efficiency, improved customer experience, and increased business profitability. A prime example of this technological integration is the implementation of mobile ordering and payment systems. Many establishments in the HoReCa sector now offer apps or websites that enable customers to place orders using their smartphones. This innovation not only saves time for both customers and staff but also minimizes order taking errors. Moreover, mobile payment solutions like Apple Pay and Google Pay facilitate seamless transactions, eliminating the need for physical cash or cards. Thus, technology integration in the HoReCa sector is revolutionizing the industry by offering convenience, efficiency, and enhanced customer satisfaction. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Type
  • Single outlet
  • HoReCa chain
• Service Type
  • Eateries and restaurants
  • Hotels
  • Cafes and pubs
• Geography
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
  • South America
    • Brazil
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing demand for healthier food options and accommodations
• Integration of technology in global HoReCa market
• Rising disposable income and consumer spending

However, the market also witnesses some limitations, which are as follows:

• Limited skilled labor and staff
• High operating costs for HoReCa establishments
• Regulatory challenges on HoReCa businesses

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Market Scope in HoReCa Market Research Report

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Research Analysis Overview

The HoReCa market encompasses food establishments, including restaurants, cafes, pizza eateries, and hotels, which import processed foods and packaged items for their commercial kitchens. Western culture and tourism fuel demand for junk food and international cuisines. Commercial catering and out-of-home consumption are growing sectors, driven by meetings and events. Hospitality revenues are boosted by hotel rooms and food delivery services. Food processing advances with commercial equipment, food robots, and AI technologies. Contactless technologies, mobile apps, and e-commerce streamline operations. Total imports of food and commercial catering equipment continue to rise.

Market Research Overview

The global HoReCa (Hotels, Restaurants, and Cafes) market encompasses businesses involved in the operation of hotels, resorts, cruise lines, casinos, gaming, leisure facilities, travel agencies, tour operators, and related services. According to Technavio, the industry's revenue is derived from these sectors. Factors fueling the expansion of the global HoReCa market include the growing travel and tourism sector, with annual increases in international and domestic travelers from developing and developed economies.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
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