A bar is a place where alcoholic beverages are served and consumed. A café is a small eatery that serves simple, typically affordable cuisine and beverages. Bars and cafes are establishments where customers can drink or eat coffee. They also offer food to their customers. Snack and non-alcoholic beverage bars, as well as drinking establishments, are the two most common types of bars and cafés. Snack and nonalcoholic beverage bars usually make and/or serve specialised snacks like ice cream, frozen yoghurt, cookies, or popcorn, as well as nonalcoholic beverages like coffee, juices, or sodas, for consumption on or near the premises.
North America Cafes & Bars Market Driving Factors and Challenges
Driving Factors- The industry is expanding significantly due to the need for innovative and personalised food menus as well as the rise in the number of businesses. Customers' quest for distinctive eating experiences and their move away from typical restaurant offerings are driving this trend. Furthermore, the growth of the café and bar industry in North America may be attributed to two main factors: the growing popularity of nightlife and the rise in the number of college and high school students socialising in cafes. Growth in the industry is being driven by rising consumption of drinks including tequila, coffee, tea, and whisky, among others.
Challenges- The increased popularity of home-cooked meals poses a significant threat to market expansion. Some people prefer home-cooked meals to restaurant meals because they are concerned about the perceived unhealthiness of restaurant cuisine, which frequently contains excessive levels of carbs, added sugar, salt, harmful fats, and artificial ingredients. Furthermore, this raises the risk of heart disease, diabetes, and obesity. Furthermore, homemade meals are less expensive than eating out and provide more nutritious value with fresh, clean ingredients. This shift towards healthy home cooking threatens the worldwide market's growth, particularly among health-conscious consumers such as millennials and baby boomers.
Impact of COVID-19 on North America Cafes & Bars Market
The Covid-19 pandemic has had a huge impact on the cafe and bar business. Lockdowns, social distancing measures, and prohibitions on indoor meals had a significant impact on the sector. Many businesses experienced temporary closures, limited capacity, and decreased consumer traffic. However, cafes and bars that immediately responded by providing takeaway and delivery services, establishing safety standards, and utilising online platforms were able to limit the impact to some level. The pandemic has also expedited the adoption of technology, with contactless payments, internet ordering, and digital marketing becoming critical to corporate continuity.
North America Cafes & Bars Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as, Dutch Bros Inc, Focus Brands LLC, Inspire Brands Inc, International Dairy Queen Inc, Jab Holding Company SÀRL, McDonald's Corporation, MTY Food Group Inc, Restaurant Brands International Inc, Smoothie King Franchises Inc, Starbucks Corporation.
North America Cafes & Bars Market Segmentation:
By Cuisine: Based on the Cuisine, North America Cafes & Bars Market is segmented as; Bars & Pubs, Cafes, Juice/Smoothie/Desserts Bars, Specialist Coffee & Tea Shops.
By Outlet: Based on the Outlet, North America Cafes & Bars Market is segmented as; Chained Outlets, Independent Outlets.
By Location: Based on the Location, North America Cafes & Bars Market is segmented as; Leisure, Lodging, Retail, Standalone, Travel.
By Region: This research also includes data for Canada, Mexico United States, Cuba, Panama, Greenland, Rest of North America.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.