Enjoy complimentary customisation on priority with our Enterprise License!
The pubs, bars, and nightclubs market size is estimated to grow at a CAGR of 5.09% between 2022 and 2027. The size of the market is forecast to increase by USD 31.46 billion. The growth of the market depends on several factors, including the increasing number of pubs and bars, the changing consumer lifestyles and rise in disposable income in APAC, and the expansion and strategic acquisition of the commercial real estate sector.
This report extensively covers market segmentation by product (beverages and foods), application (men and women), and geography (Europe, APAC, North America, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
To learn more about this report, Download Report Sample
The increasing number of pubs and bars is notably driving the market growth, although factors such as threats from the rising popularity of home-cooked food and takeaway services may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Key Pubs, Bars, and Nightclubs Market Driver
The increasing number of pubs and bars is notably driving the market growth. The growing concept of urban youth socializing in bars and pubs is expected to drive the market during the forecast period. According to the United Nations Conference on Trade and Development (UNCTAD), the urban population worldwide has increased by more than 4% percent over the past ten years. In addition, urbanization in developed countries such as the US is more compared to that in developing countries.
Population growth in urban areas and a significantly large number of white-collar workers increased the number of bars and pubs. Different tastes and preferences for different types of premium drinks led to the emergence of premium bars and pubs. The number of pubs and bars serving alcoholic and non-alcoholic beverages has attracted the attention of consumers. Infrastructure growth, such as new airports and highways in developing countries, also encourages restaurant and hotel chains to build rooftop bars and pubs. These factors are expected to drive global market growth during the forecast period.
Significant Pubs, Bars, and Nightclubs Market Trends
The rise in premium products is a major trend in the market. The demand for premium beverages is increasing. As drinking habits grow, consumers prefer to mix their own cocktails. These consumers are looking for premium cocktails and drinks. In addition, they are willing to pay for high-quality spirits and other ingredients. This has a significant impact on the global pub, bar, and nightclub market, resulting in increasing demand for premium drinks.
Vendors are, therefore, changing their menus and adding cocktail lists of local, sustainable or premium spirits. They use illustrative drink descriptions on the menu. This gives sellers many growth opportunities in the market as they change their product offerings to target new consumers. Such factors will drive the global market during the forecast period.
Major Pubs, Bars, and Nightclubs Market Challenge
Threat from the rising popularity of home-cooked food and takeaway services is a major challenge impeding the market growth. Many people prefer eating a home-cooked meal instead of eating at bars. The reasons behind this are the food that is available in bars and pubs have a huge amount of carbohydrates, added sugar, salt, unhealthy fats, and artificial food additivities. These are unhealthy and can cause lifestyle-borne diseases like heart problems, diabetes, and obesity.
Furthermore, home-cooked meals are more nutritional, hygienic, and economical as compared to dining out/takeaway foods. Therefore, meals prepared at home is likely to hinder the market growth as the number of people switching to such lifestyle pattern is increasing. Hence, the decreased number of pub-goers will negatively impact the global market during the forecast period.
Key Pubs, Bars, and Nightclubs Market Customer Landscape
The Pubs, Bars, and Nightclubs market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Pubs, Bars, and Nightclubs Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Accor SA - The company operates under multiple segments including midscale, and economy among others, with a high focus on midscale.? The company includes brands such as Novotel, Mercure, and others. The company's key offerings include?pubs and bars.
The Pubs, Bars, and Nightclubs market research report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the beverages segment will be significant during the forecast period. The beverage segment is classified into alcoholic and nonalcoholic beverages. Pubs, bars, and nightclubs offer various types of beverages.
Get a glance at the market contribution of various segments Request a PDF Sample
The beverage segment was valued at USD 76.07 billion in 2017 and continued to grow until 2021. The demand for alcoholic beverages such as tequila, and cognac, is increasing along with stiff government regulations related to distribution and import. Factors like seasonality, weather conditions, demographics, and perceived health effects affect beer consumption. Despite such challenges, an increase in craft beer demand is estimated to increase in the global pubs, bars, and nightclubs market during the forecast period. Additionally, the segment also includes hot and cold beverages like coffee, fruit juice, milk-based beverage, and other soft drinks. The segment is also expected to show steady growth during the forecast period. The rising number of health-conscious consumers is increasing the non-alcoholic beverage demand as they prefer alcohol-free alternatives. These factors are driving the segment growth during the forecast period.
For more insights on the market share of various regions Request PDF Sample now!
Europe is estimated to contribute 41% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
Europe holds a major market share in the global pubs, bars, and nightclubs market, due to the presence of various restaurant chains and high consumer spending in leisure. In addition, many bars, pubs, and nightclubs are promoted by various restaurant and cafe associations in countries like Denmark, Russia, and others.
In terms of alcoholic beverage consumption, the market is driven by steady growth in Eastern Europe. Breweries and distilleries together are one of the largest businesses in Europe that generate high employment opportunities. Beers like lager, flavored lager, and craft beer are quite popular, and the demand for these is expected to grow further. At the same time, the demand for wine is the maximum among the elderly population, as they have a greater preference for premium wines.
In 2020, the COVID-19 outbreak negatively impacted European countries. However, in 2021, due to the large-scale vaccinations, many pubs and bars resumed their operations with the upliftment of lockdowns, which increased the footfalls in bars and nightclubs. Bars, pubs, and nightclubs resumed their services with proper safety and precautions. Such steps increased the demand for beverages and food items, resulting in an increase in the demand for pubs, bars, and nightclubs. In addition, a rise in disposable income and stable economic growth is expected to fuel the growth of the regional pubs, bars, and nightclubs market during the forecast period.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
|
Pubs, Bars And Nightclubs Market Scope |
|
|
Report Coverage |
Details |
|
Page number |
154 |
|
Base year |
2022 |
|
Historic period |
2017-2021 |
|
Forecast period |
2023-2027 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 5.09% |
|
Market growth 2023-2027 |
USD 31.46 billion |
|
Market structure |
Fragmented |
|
YoY growth 2022-2023(%) |
4.11 |
|
Regional analysis |
Europe, APAC, North America, Middle East and Africa, and South America |
|
Performing market contribution |
Europe at 41% |
|
Key countries |
US, China, Japan, UK, and France |
|
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
|
Key companies profiled |
Accor SA, Attaboy, Boadas, Floreria Atlantico, Four Seasons Hotels Ltd., Hakkasan Group, J D Wetherspoon plc, Kings Head Pub, Licoreria Limantour, Maybourne Hotel Group., McKs Tavern, Mitchells and Butlers plc, Oberoi Grou, Oetker Hotel Management Company GmbH, PCO, The Atlas, The Cats Eye Pub, The Clumsies, The Dove, and Trailer Happiness |
|
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
|
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
Certified ISO 9001 : 2015
We are ISO 9001:2015 recognized that ensures quality services and product delivery to our clients.
We are GDPR and CCPA compliant! Your transaction & personal information is protected from unauthorized use.
Get lifetime access to our
Technavio Insights
Customized Report as per your Business Needs
Let us help you make report more suited to your requirements.
Get the report (PDF) sent to your email within minutes.
