The Business Research Company’s Bars And Cafes Global Market Report 2021: COVID-19 Impact And Recovery To 2030
LONDON, GREATER LONDON, UK, June 17, 2021 /EINPresswire.com/ — According to the new market research report ‘Bars And Cafes Global Market Report 2021: COVID-19 Impact And Recovery To 2030’ published by The Business Research Company, the global bars and cafes market is expected to grow from $335.55 billion in 2020 to $403.8 billion in 2021 at a compound annual growth rate (CAGR) of 20.3%. 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 $512.98 billion in 2025 at a CAGR of 6%. As the bars and cafés market is largely driven by the spending power of its consumers, steady gains in disposable personal income are expected to boost the industry in the forecast period.
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The bars and cafes market consists of sales of alcoholic beverages for immediate consumption, nonalcoholic beverages and specialty snacks for consumption on or near the premises by entities (organizations, sole traders and partnerships) including bars, taverns, nightclubs, or drinking places and fruit juice stalls, coffee shops and mobile beverage vendors that prepare and serve alcoholic beverages for immediate consumption or prepare and/or serve a specialty snack, such as ice cream, frozen yogurt, cookies, or popcorn, and/or serve nonalcoholic beverages, such as coffee, juices, or sodas for consumption on or near the premises.
Trends In The Global Bars And Cafes Market
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. Selfiii International, a Malaysian company, developed a printer that can print selfies of customers onto their coffee, making the coffee experience more personal, thereby increasing sales. Bars, taverns and nightclubs are also increasingly offering technology-driven solutions and services. They are innovating the way customers order and pay for food and drinks by introducing self-ordering touchscreen kiosks, mobile apps for customizable orders and quick payment, digital entertainment.
Global Bars And Cafes Market Segments:
The global bars and cafes market is further segmented based on type, ownership, pricing and geography.
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 global bars and cafes 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, accounting for 35% of the market in 2020.
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Bars And Cafes Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides bars and cafes market overviews, analyzes and forecasts market size and growth for the bars and cafes global market, bars and cafes global market share, bars and cafes global market players, bars and cafes global market segments and geographies, bars and cafes market’s leading competitors’ revenues, profiles and market shares. The bars and cafes market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Read Bars And Cafes Global Market Report 2021 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
Bars And Cafes Market Organizations Covered: Starbucks; Whitbread PLC; Lavazza; Buffallo Wild Wings; Dunkin' Brands.
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.
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Source: EIN Presswire