Bars
and Cafes are food service outlets which serves breakfast & snack food
items, alcoholic beverages and non-alcoholic beverages. They also serve cold
beverages such as iced tea and iced coffee. They include tea houses, coffee
houses, pubs, bars and other cafes. Some of bars/restaurants offers
entertainment or live music is referred as "live venues", "music
bars", or "nightclubs".
According
to study, “Bars
and Cafes Global Market Report 2019” key companies operating in global
bars and cafes market include Starbucks, Lavazza, Whitbread PLC, Dunkin'
Brands, Buffallo Wild Wings, Doutor Coffee Shop, International Coffee &
Tea, Gloria Jean’s Coffees, Ediya Coffee, Krispy Kreme Doughnuts, Tully's
Coffee, Stonegate Pub Company, Restaurant Brands International, McDonald's,
Barista Coffee, Caffe Nero, Coffee Beanery, Caribou Coffee, Coffee Day
Enterprises. Some of the key players which actively take part in social &
digital media platforms to promote or advertise product offerings through a
distinct, clear, and unique value proposition enduring competitive environment.
Based
on product, global bars and cafes market is segmented into cafes, bars &
pubs, specialty coffee shops, lounge and others. Based on ownership, market is
segmented into standalone market and chain market. The stand-alone market
consists of single outlets which are directly owned by an individual operating
in an independently-owned space or a hired-commercial space. The chain market
consists of companies which operate from three or more outlet operations. Based
on pricing, market is segmented into economy and high-end areas. Based on
application, market is segmented into shopping center, food & beverage and
others.
The
bars and cafes market is driven by increase in demand for innovation &
customization in food menus, followed by rise in trend of business meetings in
coffee shop, rise in urbanization, increase in disposable income, alteration in
consumer lifestyles and rise in trend of night-life & mid-week parties
among the working population. Growing disposable incomes has led to an increase
in luxury of consumers in leisure activities and rise in preference for
alcoholic beverages. However, easy availability of specialty coffee through
other retail channels and rise in costs & the decrease in margins may
impact the market. Moreover, brands these days are widely focused on some
factors such as varied food offerings, ambience, and consumer engagement which
ensure the longevity & strength of the businesses and create a niche for
this segment.
Based
on geography, the Western European region holds major share in market, bars and
cafes market owing to technological revolution and westernization of urban
lifestyle in the region. North American region is expected to witness higher
growth rate, followed by European region due to increase in demographic shifts
in the emerging market over the forecast period. Asia-Pacific region is also
expected to witness higher CAGR caused by increase in penetration of various domestic
& international players coupled with rise in adoption of western culture of
sipping premium coffee & socializing in coffee bar & shops. It is
anticipated that the future of global bars and cafes market to be bright on
account of increase in tourism and increase in desire to lead a healthier
lifestyle over the forecast period.
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