Home Press Releases HoReCa Market to Hit USD 3.75 Trillion at a 3.64 percent CAGR during the forecast period

HoReCa Market to Hit USD 3.75 Trillion at a 3.64 percent CAGR during the forecast period

by Press Room

(EMAILWIRE.COM, December 28, 2023 ) As per Maximize Market research, the HoReCa Market was USD 2.92 Trillion in 2023 and is expected to grow at a CAGR of 3.64 percent over the forecast period to reach USD 3.75 Trillion by 2030.

HoReCa Market Report Scope and Research Methodology

The HoReCa Market Report provides a comprehensive analysis of the industry, detailing trends, dynamics, and key players. It employs rigorous research methodologies encompassing extensive data collection, qualitative and quantitative analysis, market segmentation, and industry insights. The report offers an in-depth overview and forecast, focusing on global market trends and factors shaping the HoReCa sector.

HoReCa Market Dynamics

The HoReCa market grows due to the resurgence of global tourism post-pandemic, boosting demand for accommodation, dining, and catering services. Technological advancements such as AI, contactless tech, and e-commerce further drive growth, enhancing guest experiences and operational efficiency in the industry.

HoReCa Market Regional Insights

In 2022, Asia-Pacific (APAC) dominated the HoReCa market, capturing over 48% of the global share. Factors like a vast population, increasing urbanization, and rising incomes drove demand. Thailand, Japan, and China experienced surges in international tourism, propelling growth in accommodations and dining. Technological advancements and diverse culinary offerings further bolstered APAC’s position in the HoReCa sector.

HoReCa Market Segmentation

By Type

Single outlet
HoReCa chain

By Services

Cafes and pubs

HoReCa Market Key Competitors include:

Chick fil A Inc.
Dominos Pizza Inc.
Hilton Worldwide Holdings Inc.
Hyatt Hotels Corp.
Inspire Brands Inc.
InterContinental Hotels Group Plc, ITC Ltd.
Jack in the Box Inc.
Little Caesar Enterprises Inc.
Marriott International Inc.
McDonald Corp.
Papa Johns International Inc.
Starbucks Corp.
Tata Sons Pvt. Ltd.
The Coca Cola Co.
Pizza Hut

Maximize Market Research is leading Consumer Goods & Services research firm, has also published the following reports:

Hotels Market– The market size is expected to reach USD 1663.82 Bn. by 2029 at a CAGR of 9.2 percent during the forecast period.

Floating Hotels Market-The Market size is expected to reach USD 7.28 Bn. by 2029 at a CAGR of 6.5 percent during the forecast period.

About Maximize Market Research:

Maximize Market Research provides B2B and B2C research on 6,500 high-growth emerging opportunities & technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and defense, and other manufacturing sectors.

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