Dublin, May 24, 2021 (GLOBE NEWSWIRE) -- The "Bars and Cafes Global Market Report 2021: COVID-19 Impact and Recovery to 2030" report has been added to ResearchAndMarkets.com's offering.
Major companies in the bars and cafe market include Starbucks; Whitbread PLC; Lavazza; Buffallo Wild Wings and Dunkin' Brands.
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%.
Asia Pacific was the largest region in the global bars and cafes market, accounting for 35% of the market in 2020. Western Europe was the second largest region accounting for 34% of the global bars and cafes market. Africa was the smallest region 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.
Steps by national governments to contain the transmission of COVID-19 have resulted in a decline in economic activity with countries entering a state of 'lock down' and the outbreak is expected to continue to have a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the bars and cafes market will recover from the shock across the forecast period as it is a 'black swan' event and not related to ongoing or fundamental weaknesses in the market or the global economy.
As the bars and cafes 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. Many developed and developing countries across the world are forecasted to register a steady economic growth resulting in higher disposable incomes and subsequently higher spending for services such as bars and cafes.
Key Topics Covered:
1. Executive Summary
2. Report Structure
3. Bars And Cafes Market Characteristics
3.1. Market Definition
3.2. Key Segmentations
4. Bars And Cafes Market Product Analysis
4.1. Leading Products/ Services
4.2. Key Features and Differentiators
4.3. Development Products
5. Bars And Cafes Market Supply Chain
5.1. Supply Chain
5.3. End Customers
6. Bars And Cafes Market Customer Information
6.1. Customer Preferences
6.2. End Use Market Size and Growth
7. Bars And Cafes Market Trends And Strategies
8. Impact Of COVID-19 On Bars And Cafes
9. Bars And Cafes Market Size And Growth
9.1. Market Size
9.2. Historic Market Growth, Value ($ Billion)
9.2.1. Drivers Of The Market
9.2.2. Restraints On The Market
9.3. Forecast Market Growth, Value ($ Billion)
9.3.1. Drivers Of The Market
9.3.2. Restraints On The Market
10. Bars And Cafes Market Regional Analysis
10.1. Global Bars And Cafes Market, 2020, By Region, Value ($ Billion)
10.2. Global Bars And Cafes Market, 2015-2020, 2020-2025F, 2030F, Historic And Forecast, By Region
10.3. Global Bars And Cafes Market, Growth And Market Share Comparison, By Region
11. Bars And Cafes Market Segmentation
11.1. Global Bars And Cafes Market, Segmentation By Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
Snack And Nonalcoholic Beverage Bars
Drinking Places (Alcoholic Beverages)
11.2. Global Bars And Cafes Market, Segmentation By Ownership, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
11.3. Global Bars And Cafes Market, Segmentation By Pricing, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
12. Bars And Cafes Market Metrics
12.1. Bars And Cafes Market Size, Percentage Of GDP, 2015-2025, Global
12.2. Per Capita Average Bars And Cafes Market Expenditure, 2015-2025, Global
Buffallo Wild Wings
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