Digital Cafes On The Rise
Posted: Dec 14, 2018
The bars and cafés industry offers alcoholic and non-alcoholic beverages and limited food services for immediate on-premise consumption. This industry includes bars, taverns, pubs, night clubs and lounges but does not include civic or social association bars, beer, wine and liquor stores and restaurants and nightclubs that do not serve alcoholic beverages.
Changing consumer lifestyles and rising preferences for quick, packaged and healthy beverages have led to increasing demand for ready-to-drink (RTD) products. RTD tea and other RTD products are growing rapidly in the bars and cafés industry. Companies in the market are working on launching such drinks in the market to cater to the working population. For example, in June 2016 Starbucks and Anheuser-Busch collaborated to launch Teavana Ready-to-Drink tea by 2018. Café bar and coffee shop establishments are capitalizing on rapidly growing RTD market that grew at 16% CAGR over the past five years.
The companies covered are Starbucks, Whitbread PLC, Lavazza, Buffallo Wild Wings, and Dunkin' Brands.
The countries covered are USA, China, Germany, Brazil, Japan, UK, Spain, Russia, France, Australia, Italy, India and rest of the world.
The global bars and cafes market, one of the leading segments in the food and beverages services industry, grew at a compound annual growth rate (CAGR) of around 6% during the historic period. The growth is mainly due to the demographic shifts in emerging markets such as India and China, increasing tourism and rapid globalization.
In the forecast period, the global bars and cafes market size is expected to be over $690 billion by 2021, growing at a CAGR of nearly 5%. The growth in the forecast period is less when compared to the historic period. This is mainly due to rising costs, decreasing margins and growing awareness for healthy options.
Find TBRC’s report on the bars and cafes market: https://www.thebusinessresearchcompany.com/report/bars-and-cafes-services-market-global-briefing-2018
Major beverage serving companies are adopting advanced technologies to deliver customized, convenient, fast and adaptable services. Cafes around the world are investing in WiFi-enabled coffee makers that can brew coffee according to the consumers specific individual taste. For instance, Selfiii International, a Malaysian company, developed a printer which can print selfies of customers onto their coffee, enhancing the coffee experience more personal, thereby increasing sales. Bars, taverns and nightclubs are also increasingly offering technology-driven solutions and services. These establishments are using innovative techniques in the way customers order and pay for food and drinks. These techniques include introduction of self-ordering touchscreen kiosks, mobile apps for customizable orders and quick payment and digital entertainment.
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