Transparency Market Research
HORECA is syllabic abbreviation for hotel, restaurant and café. The term HORECA is used in Europe for the food industry. The term HORECA originated in Holland and is commonly used in European businesses. Therefore, furniture’s used in hotels, restaurants and café will be considered in HORECA furniture. Modern HORECA furniture’s manufacturers are turning smarter by creating furniture’s which are of extensive designs, shape and size and can be stackable creating floor space. Moreover, HORECA furniture market is gaining traction due to upsurge in hospitability industry, restaurant and café’s etc.
The global HORECA furniture market is expected to be driven by the fact that the industry is continuously getting traction from hospitality industry worldwide. Food and Beverage represents largest segment of the overall hospitality industry globally. Total revenue from this segment amounts to US$ 88,803 Mn in 2018 globally. Emergence of restaurants, fast food chains, clubs, caterers have resulted in creating demand in the market. Hotels and other types of lodging centers is another segment. Hotels accompanies modern furniture’s specifically designed for that segment. In developing countries like India, local players like OYO Rooms has created its presence worldwide. Travel and tourism is another sub-segment under hospitality industry. Furniture’s used in cruise ships, airlines and trains also creating demand for the HORECA market. However, the HORECA furniture market faces certain restraints. Despite of such growth of this market, sell and marketing of hotels, restaurants, bars and café is still characterized by unsophisticated methods, which is not taken into consideration the power of technology. Penetration of HORECA market is difficult in regions historical cities, small and medium urban and semi-urban areas where marketing and selling of HORECA furniture’s is not possible in effective way. Moreover in developed regions like in European countries, business (hotels, restaurants, bars and café) are independent and don’t form groups. With less concentration of individuals restricts the growth of the HORECA market. Furthermore, lack of professional real estate agents worldwide having specific knowledge of what kind of assets (furniture) needs to be used in various areas (hotels, restaurants, and café) also restricts the HORECA furniture market. However, companies can come up with unique concept where they provide market value of particular hotels, locations where the hotels can be most profitable, based on different parameters what kind of interior decoration, furniture’s and fixtures will be suitable etc. Companies like Hotel Seeker S.r.l has already started this concept.
One of the key trend in HORECA market is pop up restaurants. Restaurants without seats, seats without restaurants is spreading worldwide. Rise in vegetarians prompting greater healthier options. Vegetarian restaurants are coming up with decors, fixtures and furniture’s resembling vegetarian delicacies, environment. Restaurants are coming up with bowls to serve dishes instead plates, however popular in Asia but quickly spreading worldwide. Bowls with vibrant colors are also quickly catching up the market.
Global HORECA furniture market can be segmented on the basis of material type, by product type, industry type, and geography. On the basis of material type, HORECA furniture market can be segmented as metal, plastic, wood and others (rattan, composite, fiberglass etc.). Product types in HORECA furniture market includes sofa sets, dinning sets, tables, chairs and bar stools. Based on industry type, HORECA furniture market can be segmented as hotels, restaurants, cafés and bars. Moreover, on the basis of geography, HORECA furniture market can be segmented as North America, Europe, Asia Pacific, Middle East & Africa, and South America.
Some of the key prominent players in the HORECA furniture market includes Scab Giardino S.p.a. (Italy), Chairium (Turkey), Reverto Krzywiec Sp.J. (Poland), The HORECA LLC (Armenia), DUNI AB (Sweden), B K Barrit Corp. (the U.S.), American Home & Hospitality (the U.S.), Moda Seating ( the U.S.), Grand Rapid Chair Company, Inc. (the U.S.)
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