How is the Drinking Places (Alcoholic Beverages) Market Performing in Terms of Size and Growth Rate?
The drinking places (alcoholic beverages) market size is witnessing a steady growth, projected to increase from $158.92 billion in 2024 to $162.4 billion in 2025 with a compound annual growth rate (CAGR) of 2.2%. Factors such as social and cultural trends, economic conditions and disposable income, inclusive growth of the entertainment and leisure industry, licensing and regulatory environment, and evolving tourism and hospitality trends have contributed to this historic period growth.
The market is anticipated to continue its steady growth and reach $187.97 billion by 2029, with a CAGR of 3.7%. Future growth can be attributed to changing consumer lifestyles, innovations in beverage offerings, focus on craft and local products, culinary and mixology trends, and health and wellness considerations. Noteworthy trends for the forecast period include events and entertainment programming, partnerships with local food providers, and adaptation to changing consumer behavior.
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What are the Key Drivers of the Drinking Places (Alcoholic Beverages) Market?
A dramatic increase in alcohol consumption significantly contributes to the market’s growth. Pubs and bars create a social environment, promoting a safe drinking culture among friends, which in turn boosts sales. According to Statistics Canada, alcoholic beverage sales reached $26.1 billion in the fiscal year that ended on March 31, 2022, a 2.4% increase from the previous year. This upsurge in alcohol consumption is driving the growth of the drinking places (alcoholic beverages) market.
What are the Major Segments of the Drinking Places (Alcoholic Beverages) Market?
1) By Product: Beverages, Foods
2) By Application: Men, Women
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What Major Companies are Contributing to the Drinking Places (Alcoholic Beverages) Market Growth?
The major players 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 Trends are Emerging in the Drinking Places (Alcoholic Beverages) Market?
The increasing focus on self-service beer taps is a significant trend gaining traction in the market. Companies are installing self-service beer taps powered by iPourIt Radio Frequency Identification (RFID)-enabled self-pour technology to enhance efficiency and profitability. A notable example is Dirty Dog Taphaus, which installed a 30-tap self-service beverage system featuring a regularly rotating selection of craft ciders, beers, and seltzers.
Which Region Leads the Drinking Places (Alcoholic Beverages) Market?
Europe was the largest region in the drinking places (alcoholic beverages) market in 2024. The market report covers various regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Drinking Places (Alcoholic Beverages) Market Report 2025 Offer?
Drinking places (alcoholic beverages) refer to establishments where the main activity is the retail sale of alcoholic beverages for on-site consumption. They offer a wide selection of alcoholic choices, attracting diverse sections of consumers. Furthermore, they are renowned for their elaborate cocktail recipes. The Drinking Places (Alcoholic Beverages) Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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