NEW
YORK, Sept. 24, 2024 /PRNewswire/ -- The Global
Pubs, Bars and Nightclubs market size is estimated to grow by
USD 27.7 bn from 2024-2028, according
to Technavio. The market is estimated to grow at a CAGR of 4.37%
during the forecast period.Increasing number of pubs and
bars is driving market growth, with a trend
towards off-premise sales However, threat from the rising
popularity of home-cooked food and takeaway services poses a
challenge.Key market players include Accor S.A., 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 Group,
Oetker Hotel Management Company GmbH, PCO, The Atlas, The Cats Eye
Pub, The Clumsies, The Dove, and Trailer Happiness.
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Pubs, Bars And
Nightclubs Market Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
4.37%
|
Market growth
2024-2028
|
USD 27.7
billion
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
4.13
|
Regional
analysis
|
Europe, APAC, North
America, Middle East and Africa, and South America
|
Performing market
contribution
|
Europe at
33%
|
Key
countries
|
US, China, UK, Japan,
and France
|
Key companies
profiled
|
Accor S.A., 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 Group, Oetker Hotel Management Company GmbH, PCO, The Atlas,
The Cats Eye Pub, The Clumsies, The Dove, and Trailer
Happiness
|
Market Driver
The Pubs, Bars, and Nightclubs market is experiencing a shift
towards off-premise alcohol sales. Vendors are capitalizing on this
trend by offering takeaway options, such as Cocktail Kits, Growler
Pours, Adult Slushies, and Whole Bottle Sales. These off-premise
offerings cater to consumers who prefer the convenience of
consuming alcohol at home. This trend not only helps vendors tap
into new consumer segments but also presents new growth
opportunities within the market. Off-premise sales are expected to
increase significantly, making it a promising area for businesses
in the Pubs, Bars, and Nightclubs industry.
The Pubs, Bars, and Nightclubs market is thriving with various
trends shaping the industry. Sports bars offer fans a place to
watch live games with friends, while cocktail bars serve up
creative mixes for adults. Live Music Venues and DJ-Led Nightclubs
provide entertainment, with themes and specialization adding unique
experiences. Contactless payment is a must-have for convenience.
Beverage trends include craft cocktails, wine bars, and craft beer
pubs. Food offerings cater to diverse tastes, from men's hearty
meals to women's lighter options. Youth-Centric Nightclubs and
Dance Clubs attract different demographics, with Lounge Bars
offering a relaxed atmosphere. Student Bars cater to the younger
crowd, and Karaoke Bars provide a fun and social experience. Social
Media engagement is essential for marketing and customer
interaction. Health and wellbeing are increasingly important, with
many venues offering healthier food and drink options.
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Market Challenges
- The Pubs, Bars, and Nightclubs market faces challenges from
increasing health consciousness among consumers. Some prefer
home-cooked meals over dining out due to perceived unhealthy food
offerings in these establishments. Food items in bars and pubs
often contain high levels of carbohydrates, added sugar, salt,
unhealthy fats, and artificial additives. This increases the risk
of lifestyle-borne diseases and raises concerns about nutrition.
Additionally, the rise of takeaway services for alcoholic and
non-alcoholic beverages, as well as home drinking, reduces the
number of frequent pub-goers in countries like the UK and
Germany. These trends may
negatively impact the market's growth during the forecast
period.
- The Pubs, Bars, and Nightclubs market faces several challenges
in today's business landscape. For Dance Clubs and DJ-Led
Nightclubs, attracting a diverse crowd and maintaining a lively
atmosphere is key. Live Music Bars and Venues need to secure top
talent and provide quality sound systems. Beverages and Food
offerings are essential for all types of bars, ensuring a wide
selection to cater to Men and Women. Sports bars must keep up with
the latest sports events and technology, such as contactless
payment. Themes and Specialization, like Wine bars and Craft Beer
Pubs, require unique offerings to stand out. Entertainment
Offerings, such as Karaoke Bars, and Social Media presence are
crucial for customer engagement. Health and Wellbeing, including
lounge bars and student bars, are growing trends. Overall, the
market requires continuous innovation to meet the evolving needs
and preferences of consumers.
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Segment Overview
This pubs, bars and nightclubs market report extensively covers
market segmentation by
- Product
- Application
- Geography
- 3.1 Europe
- 3.2 APAC
- 3.3 North America
- 3.4 Middle East and
Africa
- 3.5 South America
1.1 Beverages- The Pubs, Bars, and Nightclubs Market
is a significant sector in the hospitality industry. Establishments
offer unique experiences for consumers, serving alcoholic beverages
and providing entertainment. This market faces continuous growth
due to increasing consumer spending on leisure activities and the
rising trend of socializing in public spaces. Operators invest in
innovative concepts, excellent customer service, and attractive
ambiance to attract and retain patrons. The market's success relies
on factors like location, pricing, and adherence to
regulations.
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are reshaping competitive dynamics
Research Analysis
The Pubs, Bars, and Nightclubs market encompasses a diverse
range of venues, each catering to unique preferences and
demographics. Sports bars offer large screens for live games,
creating a lively atmosphere for sports enthusiasts. Cocktail bars
serve artisanal drinks, providing an elegant and sophisticated
experience. Live Music Venues and DJ-Led Nightclubs offer
entertainment-focused environments, attracting music lovers and
partygoers. Wine bars and Craft Beer Pubs cater to connoisseurs,
while Youth-Centric Nightclubs and Dance Clubs appeal to younger
crowds. Contactless payment systems streamline transactions,
enhancing the customer experience. Themes and Specialization,
Entertainment Offerings, and Social Media are key trends shaping
the industry. Beverages, from craft cocktails to local brews, and
Foods, from pub grub to gourmet dishes, add to the overall
experience. Men and Women find their preferred spaces in this
vibrant market, where Health and Wellbeing, Lounge Bars, Student
Bars, Live Music Bars, Karaoke Bars, and more, offer something for
everyone.
Market Research Overview
The Pubs, Bars, and Nightclubs market encompasses a diverse
range of establishments that cater to various demographics and
preferences. These include Sports Bars, where patrons can enjoy
their favorite games on big screens, Cocktail Bars offering
expertly crafted drinks, and Live Music Venues showcasing local and
international artists. DJ-Led Nightclubs provide a lively
atmosphere for dancing, while Wine bars and Craft Beer Pubs offer a
more refined experience. Themes and Specialization are key trends,
with Youth-Centric Nightclubs, Lounge Bars, Student Bars, and Dance
Clubs each targeting specific audiences. Contactless payment
options have become essential for convenience and safety.
Entertainment Offerings, such as live music, DJs, and karaoke, add
to the unique experiences these venues provide. Craft cocktails,
Beverages, and Foods are a focus for many bars, with health and
wellbeing considerations increasingly influencing menu offerings.
Social Media plays a significant role in marketing and customer
engagement, allowing businesses to connect with their audience and
promote events. Men and Women alike find a place to socialize and
unwind at these establishments, making them an integral part of the
hospitality industry.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Product
-
- Application
-
- Geography
-
- Europe
- APAC
- North America
- Middle East And Africa
- South America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio