Global Bars And Cafes Market Size, Drivers, Trends, Opportunities And Strategies – Includes Bars And Cafes Market Forecast
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
The rise in purchasing power with economic growth are expected to drive innovation in bars and cafes manufacturing, thus driving the market during the forecast period.
The global bars and cafes market is expected to grow from $435.93 billion in 2022 to $456.1 billion in 2023 at a compound annual growth rate (CAGR) of 4.6%. The bars and cafes market is expected to grow to $529.76 billion in 2027 at a CAGR of 3.8%.
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Global Bars And Cafes Market Segments Include:
- By Type: Snack And Nonalcoholic Beverage Bars, Drinking Places (Alcoholic Beverages)
- By Ownership: Chain Market, Standalone Market
- By Pricing: High-End, Economy
- 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 bars and cafes market in 2021.
Major Market Players in the bars and cafes market include Starbucks, Lavazza, J D Wetherspoon plc, Mitchells & Butlers plc, Buffallo Wild Wings, John Swire & Sons Limited, McDonald’s, Coffee Day Enterprises.
Technological advances are enabling beverage serving companies to deliver customized, convenient, fast, and adaptable services. Cafes around the world are investing in WiFi-enabled coffee makers that can brew coffee according to the user’s specific individual taste. For instance, in November 2022, BrewLogix, a US-based online beer information and data collection service provider, announced the launch of its Performance Platform, which will directly serve and deliver vital insights to draught beverage customers in restaurants, bars, hospitality, and craft breweries. The software platform combines accurate product knowledge with “ounce-by-ounce” data from customers to improve staff and guest experiences around the draught programme. BrewLogix’s integrated ecosystem, which includes MarketMyBrewery and BreweryDB, powers the platform. BrewLogix works directly with brewers through MarketMyBrewery to efficiently source meaningful product and taproom data, enhancing the craft-on-draft experience at brewery taprooms and disseminating accurate product knowledge to better bars and restaurants everywhere. This data is then used to power BreweryDB, the world’s largest curated database of independent craft breweries. BreweryDB helps craft beer enthusiasts find their next brewery experience.
The Bars And Cafes Global Market Report 2023 provides a bars and cafes market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The bars and cafes market forecast analyzes bars and cafes market size, bars and cafes market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
A bar refers to a venue where alcoholic beverages are served and consumed. A cafe refers to a small restaurant that serves basic, often inexpensive food and drinks. Bars and cafes are places where people can drink or eat coffee. They also serve food to their customers.
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