NEW YORK, Sept. 14, 2023 /PRNewswire/ — The cafes and bars market is estimated to grow by USD 73.63 billion from 2022 to 2027, growing at a CAGR of 4.81%. The cafes and bars market is fragmented owing to the presence of many global and regional companies. A few prominent companies that offer cafes and bars market are Berkshire Hathaway Inc., BJs Restaurants Inc., Brinker International Inc., Caffe Nero Group Ltd., Caribou Coffee Operating Co. Inc., Coffee Day Enterprises Ltd., Doutor Coffee Co. Ltd., Ediya Co. Ltd., JAB Holding Co. Sarl, Jollibee Foods Corp., Luigi Lavazza SpA, McDonald Corp., Red Robin Gourmet Burgers Inc., Restaurant Brands International Inc., Starbucks Corp., Stonegate Pub Co. Ltd., The Coca Cola Co., Whitbread Plc, YUM Brands Inc., and Inspire Brands Inc. The report provides a full list of key companies, their strategies, and the latest developments. Download Free Sample before buying

Company Offering:

• Caffe Nero Group Ltd. – The company offers cafes and bars such as Caribou Coffee. Also, the company offers premium coffee houses and coffee products.

• McDonald Corp. – The company offers cafes and bars such as Merrild Kaffe AS, and Cafe Terra Brasil.

By Geography, the market is classified as Europe, APAC, North America, Middle East and Africa, and South America. Europe will have the largest share of the market.

• Europe is estimated to contribute 44% to the growth of the global market during the forecast period. In Europe, snacks and non-alcoholic drinks such as tacos, sandwiches, donuts, and milkshakes are mainly consumed as snacks and small meals, making them easier to consume on the go. Furthermore, UK and German consumers prefer food products that are light, stuffed, and topped with ingredients, such as apple pie, vegan ice cream, and biscuits. For example, companies in European cafes and bars offer donuts filled with custard and topped with caramel or filled with apple pie and caramel sauce. Hence, these factors are expected to drive market growth in the region during the forecast period.

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• Impactful driver- Increasing number of cafes
• Key Trend – Demand for innovation and customization in food menus
• Major Challenges – Threat of the rising popularity of home-cooked meals

 Market Segmentation

• By Product, the market is classified into beverages and food. The cafes and bars market share growth by the beverages segment will be significant during the forecast period. The beverage segment also includes sales of hot and cold drinks such as coffee, tea, or alcoholic beverages like tequila, whiskey, etc. The increased demand for specialty and premium RTD beverages, e.g., coffee, is an essential driver of this trend. Furthermore, demand is also strong due to the rapid growth of naturally sweet beverages. Beverages sweetened with cane sugar (such as Coca-Cola Life) are increasingly popular in the US and UK markets. In addition, consumers are increasingly interested in beverages with tropical flavors such as passion fruit, pineapple, and mango. As a result, suppliers are developing new products, such as tropical flavors. Hence, these factors are expected to drive segment growth during the forecast period.

Technavio Research experts have provided more insights on the market share of segments – View Free Sample Report

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TOC:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Product

7 Market Segmentation by Type

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Company Landscape

12 Company Analysis

13 Appendix

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