Bars and Cafes Market (Service Type - Bars, Cafes, and Coffee Shops; Outlet - Chained Outlets, and Independent Outlets): Global Industry Analysis, Trends, Size, Share and Forecasts to 2028

A recent report published by Infinium Global Research on the bars and cafes market provides an in-depth analysis of segments and sub-segments in the global as well as regional global bars and cafes market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional global bars and cafes market over the short term as well as long term. The report is a comprehensive presentation of trends, forecasts, and dollar values of the global bars and cafes market. According to the report, the global bars and cafes market is projected to grow at a significant CAGR over the forecast period of 2022-2028. 

Market Insight

The bars and cafes market comprises sales of alcoholic beverages, specialty snacks, and nonalcoholic beverages for immediate consumption. The popularity of bars among the young generation is increasing as a result of the high impact of Western society and the accessibility of an extensive range of late-night comfort food and refreshing drinks. Convenience and customization seem to be the key driving factor for the growth of the café and bar chains in developing countries. Moreover, infrastructure development and urbanization in emerging countries are projected to influence the growth of the market within the time frame. 

One of the major factors propelling the growth of the worldwide cafes and bars industry in developing countries. The market is anticipated to be driven by urban youth's expanding trend of socializing at cafes. Over 54% of the world's population, as reported by the UN, resided in urban areas. An increase in the population in metropolitan areas and a disproportionately large white-collar workforce have led to an increase in the number of food service establishments. Specialty coffee shops have further emerged as a result of varied tastes and preferences for various kinds of premium coffee. Young adults are becoming more and more accustomed to going to bars as a result of the strong influence of Western culture, as well as the accessibility of a variety of refreshing drinks and late-night comfort foods. The two main factors that seem to be fueling the growth of chain cafés and bars are convenience and customization. This is due to medical requirements, dietary restrictions, or food allergies, consumers are increasingly searching for customized foods as they attempt to match their culinary preferences to their tastes. However, high maintenance costs and lack of customer retention due to various competitors will hamper the market growth. 

The global bars and cafes market is segmented geographically into North America, Asia Pacific, Europe, and ROW. The largest region in the world market for bars and cafes in North America, which is likely to continue to dominate during the predicted period while growing at a considerable CAGR. Increasing urbanization and rapid infrastructure development have enhanced the standard of living and spending power of the population which fuels the growth of the market in the region. The Asia Pacific holds a significant market share due to the presence of major market players in the region. The growing concept of socializing at cafes among youth is expected to drive the market in the Asian region during the forecast period. 

Segment Covered

The report on the Global bars and cafes market covers segments such as service type, and outlet. On the basis of service type, the sub-markets include bars, cafes, and coffee shops. On the basis of outlet, the sub-markets include chained outlets, and independent outlets. 

Companies Profiled:

The report provides profiles of the companies in the market such as Starbucks Corporation, J D Wetherspoon plc, Himkok. Oslo., Carnaval. Lima., Galaxy Bar. Dubai., Toma Café, Employees Only. New York, Bar Benfiddich. Tokyo., Sant'Eustachio il Caffe, and Winkel 43. 

Report Highlights:

The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the global bars and cafes market. Moreover, the study highlights current market trends and provides forecasts from 2022-2028. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings insight into the market share of the leading players.