Bars And Cafes Market – Opportunities And Strategies – Global Forecast To 2030
The Business Research Company’s Bars And Cafes Market – Opportunities And Strategies – Global Forecast To 2030
LONDON, GREATER LONDON, UK, October 27, 2021 /EINPresswire.com/ — Companies in the bars and cafés market are increasingly using beverage-top media a beverage marketing technology that prints high-resolution messages on coffee, beer, and other foam-based drinks. For instance, Café de Flore, a coffee house in Italy is using this beverage-top media technology to print messages or images as per consumers requirement on their coffee, and Carrera café, a Los Angeles-based café is also using the technology. Moreover, World of Beer, a US-based Bar Chain company is using the beverage marketing platform to serve a beer with a personalized message.
The increase in disposable income is expected to fuel the growth of the bars and cafes market in the coming years. Disposable income, also known as disposable personal income (DPI), is the amount of income available to an individual or household once income taxes are subtracted. Many developed and developing countries are expected to experience consistent economic development, resulting in more disposable incomes and, as a result, increases spending on services such as bars and cafés. According to Morgan Stanley, a US-based investment bank and financial services company, disposable income per capita in China is anticipated to double from $6,000 a year to $12,000 in 2030 as more people grow older and leave the work force. Moreover, as per Bloomberg, a US-based financial, software, data, and media company, per-capita income in India will rise from $2,000 in a year to around $5,700 in 2030. Therefore, the increase in disposable income propels the growth of the bars and cafes market.
The global bars and cafes market size reached a value of nearly $335.60 billion in 2020, having declined at a compound annual growth rate (CAGR) of -2.4% since 2015. The market is expected to grow from $335.6 billion in 2020 to $513.00 billion in 2025 at a rate of 8.9%. The bars and cafes market is then expected to grow at a CAGR of 5.2% from 2025 and reach $659.50 billion in 2030.
Growth factors in the historic period demographic shifts in emerging markets, social shift due to technological revolution, rise in alcohol consumption. The market was restrained by regulatory challenges, cultural and religious restraints, shortage of skilled workforce.
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Major players covered in the global bars and cafes industry are Starbucks, Restaurant Brands International Inc., Buffalo Wild Wings, Dunkins, McCafé.
TBRC’s global bars and cafes market report is segmented by type into snack and nonalcoholic beverage bars, drinking places (alcoholic beverages), by ownership into chain market, standalone market, by pricing into high-end, economy.
Bars And Cafes Market – By Type (Snack And Nonalcoholic Beverage Bars, Drinking Places (Alcoholic Beverages)), By Ownership (Chain, Standalone), By Pricing (Premium, Economy), And By Region, Opportunities And Strategies – Global Forecast To 2030 is one of a series of new reports from The Business Research Company that provides bars and cafes market overview, forecast bars and cafes market size and growth for the whole market, bars and cafes market segments, and geographies, bars and cafes market trends, bars and cafes market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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Source: EIN Presswire