HORECA Beverage Market Overview, Key Trends & Forecast (2024–2032) | UnivDatos

According to the UnivDatos, the surge in product launches and the rise in tourism will drive the global scenario of the HORECA beverage market. As per their “HORECA Beverage Market” report, the global market was valued at USD 155 Billion in 2023, growing at a CAGR of about 3.5% during the forecast period from 2024 - 2032 to reach USD billion by 2032.  

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The HORECA (Hotels, Restaurants, and Cafes) beverage market in North America has experienced significant growth in recent years, driven by various factors. The HORECA market in North America is characterized by robust growth fueled by economic prosperity, changing consumer preferences, tourism, urbanization, technological advancements, and health-conscious trends. As the region continues to evolve, stakeholders in the hospitality industry will need to innovate and adapt to meet the evolving needs and expectations of consumers. The HORECA market in North America has experienced steady growth over the years, driven by several factors:

Economic Expansion: North America, particularly the U.S., has seen sustained economic growth, leading to increased consumer spending on dining out and hospitality services. This economic expansion has supported the growth of the HORECA sector, as consumers have more disposable income to spend on leisure activities, including eating out and travel.

Changing Consumer Preferences: Consumers in North America are increasingly seeking out unique dining experiences, including specialty cuisines, innovative food concepts, and immersive hospitality experiences. This trend has fueled demand for diverse offerings within the HORECA market, including specialty restaurants, boutique hotels, and artisanal cafes.

Tourism: North America attracts a significant number of domestic and international tourists each year, contributing to the growth of the HORECA market. Tourists seek out accommodation, dining, and entertainment options, driving demand for hotels, restaurants, and cafes across the region.

Urbanization and Lifestyle Changes: Urbanization trends in North America have led to changes in lifestyle and consumer behavior, with a growing preference for convenience, experiential dining, and socialization outside the home. This shift has supported the growth of urban hospitality hubs, including trendy neighborhoods with a vibrant dining and nightlife scene.

Technological Advancements: The adoption of technology in the HORECA sector has enhanced operational efficiency, customer engagement, and marketing efforts. Digital innovations such as online booking platforms, mobile ordering apps, and contactless payment systems have become increasingly prevalent, catering to the tech-savvy consumer base in North America.

Health and Wellness Trends: Increasing consumer awareness of health and wellness has influenced dining preferences in North America, leading to the demand for healthier menu options, organic ingredients, and sustainable practices within the HORECA market. Restaurants and cafes are responding to these trends by offering plant-based alternatives, locally sourced ingredients, and transparent labeling.

In April 2024, U.S.-based Topo Chico launched a line of fruit-flavored sparkling waters with herbal extracts.

In September 2023, U.S.-based Captain Morgan unveiled Captain Morgan Spiced Gold 0.0% alternative to Original Spiced Gold.

In April 2023, Starbucks started to ship a variety of new ready-to-drink (RTD) bottled and canned beverages including the RTD Starbucks Pink Drink and Starbucks Paradise Drink. The beverages were developed in North America.

In April 2023, U.S.-based Vizzy Hard Seltzer launched a new limited-edition summer flavor: Vizzy Orange Cream Pop Hard Seltzer.

Upright and Steady Climb: The HORECA beverage has already made its mark in the consumer goods market. As this dynamic market continues to develop and grow, it provides a ray of hope for the global effort to develop innovative HORECA beverages. The consumer goods domain is constantly innovating and redefining its innovative system from the ground up.

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Conclusion:

The HORECA beverage market is still in its early stages, due to the rapid development and expansion of a variety of beverages. This indicates the ongoing efforts to modify the product portfolio of beverage options globally, which are gradually changing the landscape. Furthermore, the increased investment in culinary tourism in the consumer goods sector is further increasing the potential of the market. Despite the unique challenges it faces, the world is making progress toward developing more innovative and healthier HORECA beverages. As this nascent market continues to grow and develop, it has the potential to contribute significantly to global efforts to combat many of the restraints associated with it.

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