Global Cafes and Bars Market is valued approximately USD XX billion in 2021 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2022-2029. The places where people can get drinks or coffee are bars and cafes. Additionally, they offer food to their clients. Growing number of people who are working, there is a growing demand for bars and cafes. People are encouraged to interact in bars and cafes. They offer a space where individuals can unwind. Bars, pubs, cafes, specialty coffee shops, etc. are a few examples of bars and cafes. The Cafes and Bars market is expanding because of factors such as rising working population and Innovation and Customization in Food Menus.
According to World Bank Organization, in year 2017 the total working population across the globe stood at 3.38 billion which increased to 3.45 billion in year 2019. As a result, with the rising working population and sedentary lifestyle, people prefer outside food which is driving the growth of market. In addition, rising demand for personalized food expansion and new-gen innovative design outlets of cafes and bars are creating lucrative growth to the market. However, the high initial and maintenance cost of cafes and bars stifles market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Cafes and Bars Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. Among these region, North America holds the highest share owing to factors such as rising popularity of various kinds of drinks, and adults diverse tastes and preferences in the region. Also, Asia Pacific is expected to have a significant growth owing to factors such as rising target population, rising establishment of new cafes and bars in the region.
Major market players included in this report are:
J D Wetherspoon plc
The Coca-Cola Company
Buffallo Wild Wings
Coffee Day Enterprises
John Swire & Sons Limited
Luigi Lavazza Spa
Rome Bidco Limited
Recent Developments in the Market:
In March 2022, Daniel's Chai Bar, which is based in Brampton, Canada, announced the establishment of new pop-up location at Toronto, Vaughan Mills.
In August 2022, Barrio Familia announced its plan to launch world's largest completely new tequila bar in London, United Kingdom.
Global Cafes and Bars Market Report Scope:
Historical Data: 2019-2020-2021
Base Year for Estimation: 2021
Forecast period: 2022-2029
Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered: Service Type, Outlet, Type Region
Regional Scope: North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Service Type offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Service Type:
Rest of the World