HoReCa Market to grow by USD 349.22 billion from 2022 to 2027, The market is fragmented due to the presence of prominent companies like Chick fil A Inc., Dominos Pizza Inc. and Hilton Worldwide Holdings Inc., and many more

NEW YORK, Sept. 19, 2023 /PRNewswire/ — The HoReCa market is estimated to grow by USD 349.22 billion from 2022 to 2027, growing at a CAGR of 3.41%. The HoReCa market is fragmented, owing to the presence of many global and regional companies. A few prominent companies in the market are 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., Performance Food Group Co., Restaurant Brands International Inc., Starbucks Corp., Tata Sons Pvt. Ltd., The Coca Cola Co., The Wendys Co., Wyndham Hotels and Resorts Inc., and YUM Brands Inc. The report provides a full list of key companies, their strategies, and the latest developments. Download a FREE Sample before buying

Company Offering:

Chick fil A Inc. – The company offers a chain of restaurants such as Chick-fil-A.
Dominos Pizza Inc. – The company offers a chain of restaurants such as Domino’s.
Hilton Worldwide Holdings Inc. – The company offers a chain of hotels such as Conrad Hotels, Curio, and Motto.
For details on companies and their offerings – Buy the report!

By Geography, the market is classified as APAC, North America, Europe, South America, and Middle East and Africa. APAC will have the largest share of the market. APAC will contribute 40% to the growth of the global market during the forecast period. Given factors like the rising population and rapid urbanization, disposable income has increased significantly in APAC. This causes consumer preferences to change. Furthermore, one of the major factors of HoReCa market growth in APAC is the increasing number of international tourists visiting the region. Moreover, countries such as Thailand, Japan, and China are seeing an increase in the number of tourists, increasing the demand for hospitality services. Hence, such factors drive the growth of the HoReCa market in APAC during the forecast period. Download a FREE sample report to get more insights on the market share of various regions and the contribution of the segments.

Impactful driver- Increasing demand for healthier food options and accommodations
Key Trend – Integration of technology in the HoReCa sector
Major Challenges – Limited skilled labor and staff

Market Segmentation

By Type, the single outlet segment is significant during the forecast period. Technavio Research experts have provided more insights on the market share of segments – View a FREE Sample Report

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HoReCa Market Scope
Report Coverage	Details
Historic period	2017-2021
Growth momentum & CAGR	Accelerate at a CAGR of 3.41%
YoY growth 2022-2023 (%)	2.75
Regional analysis	APAC, North America, Europe, South America, and Middle East and Africa
Key countries	US, Canada, China, Japan, and UK

TOC:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Type

7 Market Segmentation by Service Type

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

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