Growth in the Food Outlets and Restaurants is one of the prominent reasons driving the HoReCa Market | CAGR of 3% | UnivDatos Market Insights

https://univdatos.com/horeca-market/

The HoReCa market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the HoReCa market. The HoReCa market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the HoReCa market at the global and regional levels.

Request for Sample Pages

https://univdatos.com/get-a-free-sample-form-php/?product_id=11489

Market Overview

The HoReCa channel is the set of commercial catering food establishments whose main activity is the production and sale of direct out-of-home consumption of food. Saving possible types of specific establishments, it fundamentally encompasses the subsectors that make up the acronym: hotels, restaurants, and catering.

A rise in tourism across the globe is one of the prominent factors, which is driving the market for HoReCa. As per the World Bank, the number of international tourists reached 2.28 billion in 2019, up from 1.96 billion in 2015. Moreover, the expenditure by international tourism reached 6.1% of total imports, up from 5.6% of the total; imports. According to the World Bank, the number of international departures more than doubled between 1997 and 2017, from 687 million to 1.57 billion per annum. Moreover, the number of hotel rooms globally had risen by 17.7% since 2008 to 17 million in 2018. These rooms were in more than 184,000 hotels, a rise of 8.4% from 2008 levels. The fact that the rate of expansion in the number of rooms is more than double the rate of expansion of hotels indicates that the average hotel size has been growing.

Some of the major players operating in the market include Microsoft Corporation, International Business Machines Corporation, Amazon.com Inc., SAP SE, PTC Inc., Cisco Systems Inc., Google LLC, Hewlett Packard Enterprises, Robert Bosch GmbH, and Oracle Corporation.

COVID-19 Impact

The outbreak of Covid-19 significantly impacted the market size of HoReCa in 2020. It intensified the need to invest in IoT infrastructure and solutions to boost the productivity and efficiency of various industries. The demand for improving processes, enhancing production efficiency and quality, and helping to introduce greater flexibility into the business are further impacting the HoReCa market.

The global HoReCa market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.

Have a Look at the Chapters- https://univdatos.com/horeca-market/

HoReCa Market Geographical Segmentation Includes:

North America held a prominent share of the market and is further expected to grow at an influential growth rate. This is mainly due to the rise on account of growth in the commercial and hospitality sector. As per a renowned management consulting firm, from 2009 to 2017, US hotel gross bookings grew from US$116 billion to US$185 billion. Moreover, the restaurant industry grew by 4.4% whereas the hotels' industry grew by 6% during 2009-17.

The major players targeting the market include

Competitive Landscape

The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the HoReCa Market. The major players have been analyzed by using research methodologies for getting insight views on global competition.

Key questions resolved through this analytical market research report include:

We understand the requirement of different businesses, regions, and countries, we offer customized reports as per your requirements of business nature and geography. Please let us know If you have any custom needs.

About UnivDatos Market Insights (UMI)

Browse Other Related Research Reports from UnivDatos Market Insights

HoReCa Market Report Coverage

About UnivDatos Market Insights (UMI)

UnivDatos Market Insights (UMI) is a passionate market research firm and a subsidiary of Universal Data Solutions. We believe in delivering insights through Market Intelligence Reports, Customized Business Research, and Primary Research. Our research studies are spread across topics across the world, we cover markets in over 100 countries using smart research techniques and agile methodologies. We offer in-depth studies, detailed analysis, and customized reports that help shape winning business strategies for our clients.

Contact
UnivDatos Market Insights
Ankita Gupta
Director Operations
Ph: +91-7838604911
Email: [email protected]
Website: https://univdatos.com/

Logo: https://mma.prnewswire.com/media/1225049/UnivDatos_Logo.jpg

View original content:https://www.prnewswire.co.uk/news-releases/growth-in-the-food-outlets-and-restaurants-is-one-of-the-prominent-reasons-driving-the-horeca-market--cagr-of-3--univdatos-market-insights-301673209.html