EMEA HoReCa Market: Current Analysis and Forecast (2023-2030)

The EMEA HoReCa industry is a multifaceted sector spanning Europe, the Middle East, and Africa, characterized by its rich cultural diversity and economic variations. From the Michelin-starred restaurants of Paris to the bustling street food scenes of Istanbul and the luxurious hotels of Dubai, the region offers a wide array of culinary experiences. However, the industry faces challenges such as adapting to changing consumer demands, navigating regulatory differences across borders, and managing operational costs in an ever-evolving market. Despite these challenges, the EMEA HoReCa sector continues to thrive, driven by tourism, evolving consumer tastes, and a commitment to offering unique and memorable hospitality experiences across the region.

The HoReCa market is expected to grow at a steady rate of around 2.2%. The HoReCa (Hotels, Restaurants, Cafes and Bars) market in the EMEA (Europe, Middle East, and Africa) region is experiencing robust growth, driven by several key factors. One significant driver is the increasing influx of tourists across the region. European cities like Barcelona, Paris, and Rome have long been popular destinations, but emerging destinations in the Middle East and Africa are also attracting attention. For instance, Dubai has witnessed a substantial increase in the number of tourists over the past decade, leading to a surge in hotel investments, with many internationally renowned chains establishing a presence. Moreover, government initiatives in various EMEA countries, such as Greece's "Golden Visa" program and Saudi Arabia's Vision 2030, are encouraging foreign investments, including those in the HoReCa sector. These initiatives aim to boost tourism and hospitality infrastructure development.

Based on the Service type, the market is segmented into hotels, restaurants, Cafes, and bars. Among these, the hotels segment is expected to hold a considerable share of the market during the forecast period. The hotels segment within the HoReCa (Hospitality, Restaurant, and Catering) market is experiencing notable growth due to several key factors. The steady rise in international and domestic tourism is a significant driver. Travelers are seeking diverse and memorable accommodation experiences, from boutique hotels to luxury resorts, leading to an increased demand for hotel rooms. Moreover, the expanding middle class and rising disposable incomes in many EMEA (Europe, Middle East, and Africa) countries are fueling domestic tourism, further bolstering the hotel industry.

Based on the category, the market has been categorized into Single Outlet and HoReCa Chain. Among them, the single outlet segment held a considerable market share in 2022. Moreover, the market would witness a sharp rise in the forthcoming years owing to surging demand for ready-to-eat food and junk food from the millenniums. However, the HoReCa chain segment would witness skyrocketing growth in the forecast period of 2023-2030F.

For a better understanding of the market adoption of the HoReCa industry, the market is analyzed based on its worldwide presence in countries such as Germany, the U.K., France, Spain, Italy, Rest of Europe, Saudi Arabia, The UAE, Kuwait, Qatar, Oman, Egypt, South Africa, Rest of the Middle East & Africa. Saudi Arabia is expected to dominate the HoReCa market during the forecast period. The adoption of the HoReCa (Hotels, Restaurants, and Cafe and bars) market in Saudi Arabia is experiencing remarkable growth, reflecting a dynamic shift in consumer preferences and a burgeoning tourism sector. Saudi Arabia's Vision 2030, a transformative economic and social agenda, has played a pivotal role in driving the expansion of the HoReCa industry. The government's commitment to diversifying the economy away from oil dependency has led to substantial investments in tourism and entertainment infrastructure. This, in turn, has attracted international hotel chains, renowned restaurant brands, and innovative catering services to establish a presence in the country. The growing young population, changing lifestyles, and a desire for culinary diversity are contributing to the thriving restaurant and cafe culture. Additionally, the rise of online food delivery platforms is making it easier for consumers to access a wide range of HoReCa services. As a result, the HoReCa market in Saudi Arabia is on a trajectory of sustained growth, poised to become a vibrant and integral part of the nation's evolving economy and cultural landscape. in maintaining the country's industrial prowess and commitment to high-quality engineering standards.

Some of the major players operating in the market include: Hilton Worldwide Holding Inc.; Hayatt Hotles Corporation; Marriott International Inc.; InterContinental Hotels Group Plc; McDonald's Corporation; Yum! Brands, Inc.; Restaurant Brands International Inc.; Herfy.; KFC; The Coca-Cola Company.