The growing demand for processed and packaged food in the region is one of the prominent reasons for the growth of the market. 80% of Americans’ total calorie consumption comes from store-bought foods and beverages (packaged and unpackaged). An emerging number of food processing companies in the United States leading to the growing market of food robots in the United States. More than 30% of the top 50 food & beverage-processing firms in the world. For instance, the average annual household food expenditure of the US population increased from USD 6,129 in the year 2010 to USD 8,169 in 2019. Whereas in 2018, the average U.S. household food expenditure amounted to approximately 7,923 U.S. dollars. Also, according to the statistics database Nation Master, In the U.S., the annual per capita spending on food is USD 2,678.

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According to UnivDatos Market Insights (UMI)’ research report “Global HoReCa Market Analysis, 2021”, the Global HoReCa market is projected to grow at a CAGR of ~3% during 2021-27F. The key factors attributed to the growth of the HoReCa Market across the globe are growth in disposable income, the rising number of working women's and the rise in the tourism industry. The rise in the millennial working population with changing preferences to ready-to-eat foods and change in taste preferences coupled with the growing need for customized and newer food options has fueled the growth of the foodservice market. As per the U.S department of agriculture, the foodservice and food retailing industries supplied about US$1.79 trillion worth of food in 2019. In 2020, the food service and food retailing industries supplied about US$1.69 trillion worth of food.

Also, The growth of commercial spaces like café, restaurants as a place to socialize and spend time with different and innovative food consumption has altered food consumption habits As per the world bank, Adjusted net national income per capita (current US$) reached US$ 9,483.84 in 2019 from US$ 8,544.82 in 2015.

Based on the Service Type, the Hotels segment acquired the major market share and dominated the global HoReCa market in 2020. However, the demand for cafes and Restaurants is booming and is expected to gather a considerable market share by 2027. Proliferating number of schools, colleges, and booming hospitality and healthcare sector, globally is resulting in the growing demand for HoReCa. Also, a rise in the tourism sector is acting as a growth catalyst to the industry. As per The World Travel and Tourism Council (WTTC), the global contribution of 8.8 trillion USD to the global economy in 2018, represents 10.4% of the world’s total GDP

Based on the Category type, the HoReCa chain segment captured a major market share in 2020 and generated a considerable market share. The market of this segment is on the rise due to the growing demand from millennium for several purposes such as business meetings, parties, etc.

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North America to Grab Lion’s Share, But the Asia Pacific to witness Explicit Growth

Based on the Region, the North American region dominated the global HoReCa market in 2020. The region grabbed considerable market share from the global market. Moreover, the region is projected to maintain its dominance during the forecasted period 2021-27, stated in UnivDatos Market Insights (UMI)’ research report “Global HoReCa Market Analysis, 2021”.

According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the global HoReCa market are Hilton Worldwide Holdings Inc., Hyatt Hotels Corporation, Marriott International, Inc., InterContinental Hotels Group plc, Wyndham Hotel Group, LLC, McDonald's Corporation, Yum! Brands, Inc., Restaurant Brands International Inc., Inspire Brands, Inc, The Coca-Cola Company (Costa Coffee), etc., The players are focused on launching new products for gaining customers' traction and expanding their geographical reach to get a competitive edge in the industry.

“Global HoReCa Market Analysis, 2021” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the HoReCa market across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors' capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.      

 Market Segmentation:

1.      By Service Type (Hotels, Restaurants, Cafés & Pubs)

2.      By Category Type (Single Outlet, HoReCa Chain)

3.      By Region (North America, Europe, Asia-Pacific, Rest of the World)

4.      By Company (Hilton Worldwide Holdings Inc., Hyatt Hotels Corporation, Marriott International, Inc., InterContinental Hotels Group plc, Wyndham Hotel Group, LLC, McDonald's Corporation, Yum! Brands, Inc., Restaurant Brands International Inc., Inspire Brands, Inc, The Coca-Cola Company (Costa Coffee)

Key questions answered in the study:

1.      What are the current and future trends of the Global HoReCa industry?

2.      How the industry has been evolving in terms of end-user demand and application areas?

3.      How the competition has been shaping across the countries followed by their comparative factorial indexing?

4.      What are the key growth drivers and challenges for the HoReCa industry?

5.      What are the customer orientation, purchase behavior, and expectations from the HoReCa firms across various regions?