Dublin, Sept. 08, 2023 (GLOBE NEWSWIRE) -- The "Drinking Places (Alcoholic Beverages) Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
The global drinking places (alcoholic beverages) market is on track to experience significant expansion, projecting an increase from $59.51 billion in 2022 to $65.69 billion in 2023, representing a commendable compound annual growth rate (CAGR) of 10.4%.
Amid the backdrop of the Russia-Ukraine conflict, global economic recovery from the COVID-19 pandemic encounters near-term disruptions. This geopolitical tension has triggered economic sanctions, fluctuations in commodity prices, and interruptions in supply chains, consequently fostering inflation across various goods and services, impacting markets worldwide.
Nevertheless, the drinking places (alcoholic beverages) market is anticipated to reach a valuation of $89.63 billion by 2027, sustaining a CAGR of 8.1%.
The newly released drinking places (alcoholic beverages) market research report is part of an ongoing series, offering valuable statistics and insights about the industry.
This comprehensive report includes global market size data, regional distribution, competitive landscape, market segmentation, emerging trends, opportunities, and essential data for stakeholders striving to excel in this sector. By presenting a thorough analysis of both the present and future industry landscape, the report equips stakeholders with an encompassing perspective.
A noteworthy trend gaining traction within the drinking places (alcoholic beverages) market is the growing prominence of self-service beer taps. Industry players are adopting this trend by integrating self-service beer taps to optimize operational efficiency and enhance profitability. For instance, in June 2022, Dirty Dog Taphaus, a US-based pub, unveiled a self-pour taproom featuring a 30-tap self-service beverage system, powered by iPourIt's Radio Frequency Identification (RFID) technology. This innovative setup offers a rotating selection of craft ciders, beers, and seltzers.
In a strategic move, India's craft beer brand Bira 91 made headlines in October 2022 by acquiring The Beer Cafe. This acquisition aims to bolster Bira 91's presence in bars and taprooms, setting the stage for India's pioneering Direct-to-Consumer (D2C) platform exclusively dedicated to beer. The Beer Cafe, renowned for its beer-serving pub chain, will play a pivotal role in this endeavor.
As of 2022, Europe has emerged as the dominant region in the drinking places (alcoholic beverages) market. The market report covers key regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, and the Middle East and Africa.
The report encompasses data from various countries, encompassing Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
The escalating global alcohol consumption trend is poised to be a driving force behind the expansion of the drinking places (alcoholic beverages) market. Pubs and bars continue to cultivate a positive social atmosphere, fostering secure gatherings and contributing to heightened alcohol consumption. Notably, the Global Beer Consumption Report for 2021, shared by Japan-based Kirin Holdings Company Limited, indicated a 4.0% increase in global beer consumption, reaching approximately 185.60 million kiloliters in 2021 compared to the previous year.
The drinking places (alcoholic beverages) market encompasses revenues derived from establishments offering an array of alcoholic drinks such as martinis, manhattans, mojitos, margaritas, and various foods. This market valuation incorporates associated goods within the service offering. However, only goods and services directly traded between entities or sold to end consumers are included.
Market value signifies the revenue generated by enterprises through goods and/or services sales within the designated market and geography. The specified currency is USD, unless indicated otherwise.
The revenues attributed to a specific geography represent consumption values generated by organizations within that region, irrespective of their production location. This figure excludes revenues from resales along the supply chain or as part of other products.
Prominent players in the drinking places (alcoholic beverages) market include Boadas Cocktails, Kings Head Pub, Attaboy, Floreria Atlantico, Four Seasons Hotels Ltd., Hakkasan Group, J D Wetherspoon Plc., Licoreria Limantour, Maybourne Hotel Group, McKs Tavern, Mitchells and Butlers Plc., Oberoi Group, Oetker Hotel Management Company GmbH, PCO, The Atlas Bar, The Cats Eye Pub, and Trailer Happiness.
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
- Understand how the market has been affected by the coronavirus and how it is responding as the impact of the virus abates.
- Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis
A selection of companies mentioned in this report includes
- Boadas Cocktails
- Kings Head Pub
- Attaboy
- Floreria Atlantico
- Four Seasons Hotels Ltd.
- Hakkasan Group
- J D Wetherspoon Plc.
- Licoreria Limantour
- Maybourne Hotel Group
- McKs Tavern
- Mitchells and Butlers Plc.
- Oberoi Group
- Oetker Hotel Management Company GmbH
- PCO
- The Atlas Bar
- The Cats Eye Pub
- Trailer Happiness
For more information about this report visit https://www.researchandmarkets.com/r/26lnkx
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