Currently the HoReCa industry in fast growing Asian market is undergoing a major transformation with changing demand patterns of consumers along-with technology impacting business operations. Market Research announced a new report of Wall Covering Industry. This market will grow with a CAGR of 7.5%, and by the year 2028 it is expected to be more than US$1 trillion in value.

Above all the trends reveal a new, stark focus on sustainability. With 62% of dining consumers now favoring eco-friendly options when selecting restaurants or hotels, green certifications are starting to take off in Asia with a view towards reducing single-use plastics. Furthermore, over 50% of establishments in cities reflect Tokyo and Seoul are now using AI tools to improve their customer service quality and operational efficiency, which is the way digitalization leads industries also.

A development that is perhaps most conspicuous in the food and beverage world: experiential dining. These days chefs and restaurateurs have a found passion for more immersive experiences blending local flavors with international-culinary expertise. Recently I read that there has been a 15% hike in revenue for places that provide alternative dining experiences.

I feel that sustainability and technology are likely to be focus of development for Asian HoReCa sector with new culinary trends trying to keep up with this dynamic market.

AUTHOR: Upendra Dattatraya Kulkarni

HCS GLOBAL CORP