What Fueled The Previous Growth In The Drinking Places (Alcoholic Beverages) Market?
The drinking places (alcoholic beverages) market has seen considerable growth due to a variety of factors.
• The market size for establishments serving alcoholic beverages has seen a consistent growth in the past years. Its worth is anticipated to rise from $158.92 billion in 2024 to $162.4 billion in 2025, marking a compound annual growth rate (CAGR) of 2.2%. The historical growth witnessed in this market can be credited to factors such as societal and cultural tendencies, economic situations, disposable income levels, expansion of the entertainment and leisure sector, the licensing and regulatory landscape, as well as trends in tourism and hospitality.
How Does the Forecast Look for the Drinking Places (Alcoholic Beverages) Template Market?
The Drinking Places (Alcoholic Beverages) market is expected to maintain its strong growth trajectory in upcoming years.
• The market of drinking establishments for alcoholic beverages is projected to exhibit consistent growth in the upcoming years. The forecast suggests a rise up to $187.97 billion in 2029, reflecting a compound annual growth rate (CAGR) of 3.7%.
The growth anticipated in this period is primarily due to shifts in consumer lifestyles, advancements in beverage choices, emphasis on artisanal and local products, gastronomic and mixology trends, and health and wellness considerations. Key trends for the forecast period encompass events and entertainment initiatives, collaborations with local food suppliers, digital marketing through social media and influencers, adjustments to shifting consumer behavior, as well as sustainability and eco-conscious measures.
What Are The Leading Drivers Of Growth In The Drinking Places Alcoholic Beverages Market?
The rising levels of alcohol intake are having a significant impact on the expansion of the drinking places (alcoholic beverages) market. The term alcohol consumption describes the intake of beverages that contain ethyl alcohol. Establishments like pubs and bars foster a positive social atmosphere, allowing friends to enjoy drinks in a safe environment. Consequently, the growing trend of alcohol consumption is propelling the sales of drinking establishments such as bars and pubs. In 2023, Statistics Canada, a national statistical agency, reported that alcohol beverage sales at retail and liquor authority outlets hit $26.1 billion for the fiscal year ending in March 2022, marking a 2.4% rise from the previous year. There was a 2.1% uptick in wine sales, amounting to $8.1 billion, for the years 2021 and 2022. Beer accounted for 34.9% of the total alcohol sales value in 2021–2022, followed by wine at 31.3%, spirits at 25.8%, and ciders and coolers at 8.0%. Therefore, the increase in alcohol consumption is a significant driver of growth in the drinking places (alcoholic beverages) market.
How Are The Segments Defined Within The Global Drinking Places Alcoholic Beverages Market?
The drinking places (alcoholic beverages) market covered in this report is segmented –
1) By Product: Beverages, Foods
2) By Application: Men, Women
Subsegments:
1) By Beverages: Beer, Wine, Spirits (Liquor), Cocktails And Mixed Drinks
2) By Foods: Appetizers, Main Courses, Desserts, Snacks And Tapas
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How Are New Trends Expected To Influence The Growth Of The Drinking Places Alcoholic Beverages Market?
The emphasis on self-service beer taps is an emerging trend gaining traction in the market for drinking establishments (alcoholic beverages). To boost efficiency and profitability, businesses in this market are incorporating self-service beer taps. As a demonstration, in June 2022, Dirty Dog Taphaus, a pub based in the US, fitted a self-pour taproom equipped with a 30-tap self-service beverage system powered by iPourIt Radio Frequency Identification (RFID)-enabled self-pour technology. This features a rotating array of craft ciders, beers, and seltzers.
Who Are the Key Players In The Drinking Places Alcoholic Beverages Market?
Major companies operating in the drinking places (alcoholic beverages) market include:
• Boadas Cocktails
• Kings Head Pub
• Attaboy Holdings Ltd.
• Floreria Atlantico
• Four Seasons Hotels Ltd.
• Hakkasan Group Ltd.
• J D Wetherspoon plc
• Licoreria Limantour
• Maybourne Hotel Group
• McKs Tavern Co.
• Mitchells and Butlers plc
• EIH Ltd.
• Public Call Office
• The Atlas Bar Inc.
• The Cats Eye Pub
• Trailer Happiness
• Anheuser-Busch InBev Sa/NV
• Diageo plc
• Constellation Brands Inc.
• Pernod Ricard SA
• Asahi Group Holdings Ltd.
• United Breweries Limited
• Halewood International Holdings plc
• Bacardi Limited
• Brown-Forman Corporation
• Carlsberg India Pvt. Ltd.
• China Resources Beer (Holdings) Company Limited
• Compañía Cervecerías Unidas S.A.
• Craft Brew Alliance Inc.
• Distell Group Limited
• Grupo Modelo S.A. de C.V.
• Kirin Holdings Company Limited
• Molson Coors Beverage Company
What Is The Most Dominant Region In The Drinking Places Alcoholic Beverages Market?
Europe was the largest region in the drinking places (alcoholic beverages) market in 2024. The regions covered in the drinking places (alcoholic beverages) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
