The size of the Europe Embedded Insurance Market market was valued at USD 8.08 Million in 2024 and is projected to reach USD 66.86 Million by 2033, with an expected CAGR of 35.24% during the forecast period. Recent developments include: March 2024: Chubb Limited recently unveiled a global platform aimed at offering transactional risk liability insurance products in international markets., January 2024: Cover Genius, a leading insurtech for embedded protection, and Vueling, Spain's prominent low-cost airline, unveiled an exclusive partnership aimed at safeguarding over 30 million travelers. By tapping into Cover Genius' robust global technology, this collaboration empowers Vueling to expand its reach beyond Spain, effectively addressing the evolving demands of the global travel community., November 2023: Cover Genius, a prominent insurtech specializing in embedded protection, and SAS, the premier airline in Scandinavia, unveiled an exclusive and tailor-made protection program. This program spans over 25 European countries and the United States and has the potential for global expansion. By integrating comprehensive travel protection directly into the customer booking process, passengers not only enjoy AI-driven price optimization and personalized product suggestions but also a hassle-free claims process.. Key drivers for this market are: Increasing Adoption of Cashless Transactions will Boost the Market, Growth in E-Commerce is Driving the Market. Potential restraints include: Increasing Adoption of Cashless Transactions will Boost the Market, Growth in E-Commerce is Driving the Market. Notable trends are: Digitalization and High-speed Internet to Propel the European Embedded Insurance Market.

Product Market size is rising upward in the past few years And it is estimated that the market will grow significantly in the forecasted period

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HoReCa Market Size 2025-2029

The HoReCa market size is forecast to increase by USD 319.9 billion at a CAGR of 3% between 2024 and 2029.

The market is experiencing significant growth, driven by several key trends. The increasing demand for healthier food options and accommodations is a major growth factor. Consumers are increasingly conscious of their health and seek out restaurants and hotels offering nutritious meals and facilities. Another trend is the integration of technology in the HoReCa sector, with the adoption of digital menus, contactless payments, and online ordering systems. They also cater to specific dietary needs like gluten-free or vegan diets. However, the industry also faces challenges, such as the limited availability of skilled labor and staff. These issues are putting pressure on businesses to find innovative solutions to meet the evolving needs of consumers while maintaining profitability. Overall, the market is expected to continue growing, driven by these trends and challenges.

What will be the Size of the HoReCa Market During the Forecast Period?

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The market, encompassing food establishments such as restaurants, cafes, pizza eateries, and hotels, represents a significant segment of the global economy. This market is driven by various factors, including the growing trend of out-of-home consumption, the international tourism industry, and the Western culture of hospitality. The Horeca channel also includes commercial catering and food delivery services, contributing to its sizeable revenue generation. The Horeca sector is witnessing notable trends, including the increasing popularity of processed and packaged foods, as well as junk food. The tourism industry's growth continues to fuel demand for this market, with international tourists seeking diverse culinary experiences.
Moreover, technological advancements in commercial equipment, food processing, and artificial intelligence (AI) in the form of chatbots and virtual assistants are transforming the industry, with food robots and contactless technologies becoming increasingly common. The market's size is substantial, with substantial hotel revenues generated from food and beverage sales. Meetings and events are another significant contributor to the market's growth, as businesses and individuals continue to prioritize face-to-face interactions. The sector's shift towards e-commerce and mobile applications is also noteworthy, enabling consumers to order food and make reservations with ease. Total imports of commercial equipment, food, and beverages further underscore the market's global reach and significance.

How is this HoReCa Industry segmented and which is the largest segment?

The industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Type

  Single outlet
  HoReCa chain


Service Type

  Eateries and restaurants
  Hotels
  Cafes and pubs


Geography

  APAC

    China
    India
    Japan
    South Korea


  North America

    Canada
    US


  Europe

    Germany
    UK
    France


  South America

    Brazil


  Middle East and Africa

By Type Insights

The single outlet segment is estimated to witness significant growth during the forecast period.

The market encompasses various segments, including restaurants, cafes, hotels, and processed food industries. Single outlet establishments, such as independent pizzerias, junk food eateries, and fine dining restaurants, are a significant part of this sector. These businesses cater to consumers seeking unique dining experiences and personalized service. Seasonal changes and evolving consumer preferences necessitate continuous menu updates and innovation. The industry serves both domestic and international tourists, contributing to the tourism industry's growth. Business travelers, meetings, and events also contribute to the sector's revenue generation. Digital payment systems, AI personalization, and contactless technologies are transforming the HoReCa channel, enabling out-of-home consumption and commercial catering.

The sector's growth is influenced by factors like hotel revenues, food tourism, and the increasing popularity of food delivery services. E-commerce, online food ordering, and mobile applications have become essential tools for businesses to reach customers and increase sales. The market's success hinges on its ability to adapt to changing consumer demands and offer elevated hospitality standards.

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The single outlet segment was valued at USD 1,318.10 billion in 2019 and showed a gradual increase during the forecast period.

Regional Analysis

APAC is estimated to contribute 41% to the growth of