Global Hospitality Market
Hospitality

Global Hospitality Market Report 2021 – Opportunities And Strategies, Market Forecast And Trends

The Global Hospitality Market Report by The Business Research Company Covers Hospitality Market Drivers And Restraints, Hospitality Market Size, Major Players, And The Impact Of COVID-19 On The Hospitality Market.

The hospitality market consists of sales of accommodation and food services and related goods by entities (organizations, sole traders or partnerships) that provide customers with lodging and/or prepare meals, snacks, and beverages for immediate consumption. The market covers both accommodation and food services because the two activities are often combined at the same establishment. The hospitality market is segmented into non-residential accommodation services and food and beverage services.

The hospitality market growth is aided by stable economic growth forecasted in many developed and developing countries. The global hospitality market is expected to grow from $3486.77 billion in 2020 to $4132.5 billion in 2021 at a compound annual growth rate (CAGR) of 18.5%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $5297.78 billion in 2025 at a CAGR of 6%.

 

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Some hospitality market trends include hotels using technologies that are transforming the customer experience. Some technologies are leading to significant improvements and savings in the hospitality market. The most significant trends in this market are the use of near field communication (NFC) technology, infrared technologies, and robots. NFC gives users the ability to exchange data between devices, making mobile payments an instant, secure process. Infrared sensors are used in hotels to address customer complaints involving housekeeping interruptions. Hotels are also using robots to deliver amenities to guest rooms and for many other functional purposes.


Global hospitality market segments include:

1) By Type: Non-Residential Accommodation Services, Food And Beverage Services.

2) By Distribution Channel: Supermarkets/Hypermarkets, Convenience Stores, E-Commerce, Others.

3) By Nature: Organic, Conventional.

Subsegments Covered: Hotel And Other Travel Accommodation, Camping And Caravanning, Students And Workers Non-residential Accommodation, Restaurants And Mobile Food Services, Bars And Cafes, Catering Services And Food Contractors.

By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.

Among these regions, Asia Pacific is the largest region in the global hospitality market, accounting for 45% of the market.


Read More On The Hospitality Global Market Report 2021: COVID-19 Impact and Recovery to 2030 At:

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The Hospitality Global Market Report 2021: COVID-19 Impact and Recovery to 2030 is one of a series of new reports from The Business Research Company that provides hospitality market overviews, analyzes and forecasts market size, share, hospitality market players, hospitality market segments and geographies, market’s leading competitors’ revenues, profiles and market shares.

The hospitality market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

 

Where To Learn More:

Read Hospitality Global Market Report 2021: COVID-19 Impact and Recovery to 2030 from The Business Research Company for information on the following:

Data Segmentations: Market Size, Global, By Region And By Country, Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries.

Market Players Covered: McDonald’s, Compass Group Plc, Starbucks, Subway, Marriott International.

Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.

Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Time Series: Five years historic (2015-20) and ten years forecast (2021-2025-2030)

Other Information And Analyses: SWOT analysis, customer information, market product/service analysis – product examples, trends and opportunities, drivers and restraints, key mergers and acquisitions, suggested trend based strategies, impact of COVID-19 on the market, future outlook and potential analysis, key metrics covered: number of enterprises, number of employees, global market in 2021 – countries offering most new opportunities, conclusions and recommendations by expert analysts.

Sourcing And Referencing: Data and analysis throughout the report are sourced using end notes.

Strategies For Participants In The Hospitality Industry: The report explains a number of strategies for companies in the market, based on industry trends and company analysis.

Opportunities For Companies In The Hospitality Sector: The report reveals where the global industry will put on most $ sales up to 2023.

Interested to know more about The Business Research Company?

The Business Research Company has published over 1000 industry reports, covering over 2500 market segments and 60 geographies. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. The reports are updated with a detailed analysis of the impact of COVID-19 on various markets.

Read more about us at https://www.thebusinessresearchcompany.com/about-the-business-research-company.aspx

 

Here is a list of reports from The Business Research Company similar to the Hospitality Global Market Report 2021:

Hostels Global Market Report 2021: COVID-19 Growth And Change To 2030

Camping And Caravanning Market – By Type (RV (Recreational Vehicle) Parks And Campgrounds, Recreational And Vacation Camps), Competitive Landscape, And By Region, Opportunities And Strategies – Global Forecast To 2023

Non-Residential Accommodation Services Global Market Report 2021: COVID-19 Impact And Recovery To 2030

 

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