Market Size of Global Cafe and Bars Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.06 % |
| Fastest Growing Market | North America |
| Largest Market | Europe |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Cafe and Bars Market Analysis
The global café and bars market is projected to register a CAGR of 4.06% during the forecast period, 2022-2027.
The market for cafes and bars is expanding primarily as a result of the rise in cafés offering authentic snacks with a variety of beverages. Other factors, such as the increasing consumption of alcoholic beverages such as tequila, whiskey, and cognac, are majorly attributed to the growth of the cafe and bar market globally. Nowadays, café owners are inclined towards a pleasant ambiance café which consists of playing soft music, well decked up staff, innovative theme decoration as new generation visits Insta-friendly cafes in order to enjoy the ambiance along with the food. With the ever-increasing adoption of foreign cultures, manufacturers are opening various new cafes and bars globally with authentic foods and beverages. For instance, in March 2022, Tesco inaugurated a new pop-up cafe in London. The cafe provides breakfast, afternoon tea, and five-course meals, among other "hot cross bun-filled dining experiences to suit all preferences.
In short term, the market is dominated by European and Asian consumers, who are continuously looking to expand their palates. This supports both domestic and international cuisines along and supports the cafe market in the region. Further, the rising purchasing power of the millennial generation of consumers is going to accelerate the café market to such an extent.
Additionally, bars are increasingly offering tech-based services and solutions in various regions which has led to the growth of the market studied. For example, they are introducing self-ordering touchscreen kiosks, mobile apps for customizable orders and quick payment, digital entertainment like gaming and graffiti, and charity donation solutions like LivnGiv that directly donate 20% of the customer's bill for charity.
