Is the bar industry growing?
The market size of the Bars & Nightclubs industry in the US has grown 0.9% per year on average between 2017 and 2022. The market size of the Bars & Nightclubs industry in the US increased faster than the Accommodation and Food Services sector overall.
What is the market size of the bar industry?
The market size of the bar and nightclub sector in the United States reached 20.04 billion U.S. dollars in 2020, down from 29.15 billion U.S. dollars the previous year. The market size of the sector was forecast to increase to 25.09 billion in 2021.
How many sports bars are there in the United States?
According to Chicago-based CHD-Expert, there are 1,218 operations classified as sports bars in the U.S. Roughly 230 are small, local establishments with revenues less than $500,000 annually, while only 1 location reported yearly revenues between $2.5 and $5 million.
What industry do bars fall under?
The bar and nightclub industry in the United States is a lucrative part of the larger food and drinks services industry. Bars, also known as pubs or taverns, are establishments that serve beer and other alcohol, often with a light food menu.
What are the bar industry trends in 2021?
Rum & Coke, Gin Tonic, Mojito and Whiskey & Coke are some of the most sold canned cocktails. This trend will definitely continue to boom through 2021. Bars can offer their own canned cocktails to differentiate themselves from alcohol brands that have been doing this for a few years.
How much revenue does a bar make?
How Much Does a Bar Owner Make? A bar owner yearly salary will be drawn from, or be, the bar’s net profit margin. The average bar revenue is $27,500 per month, which translates to an average of $330,000 annual revenue. Average monthly bar expenses are $24,200.
What demographic goes to bars?
Consumers in the age group of 21-34 comprise about 22.9% of industry revenue. This age group tends to have more free time and less responsibilities than older age groups so they frequent bars the most. The 35 to 44 age group is 19.8% of industry revenue.
What is the biggest bar chain?
Leading sports bar chain sales in the U.S. 2019 Buffalo Wild Wings had sales of approximately 3.7 billion U.S. dollars in the U.S. in 2019, making it the leading sports bar chain in the United States in terms of sales.
Are sports bars still popular?
You can Get Great Food Those days are gone. One of the many reasons why sports bars are making a comeback is because of their dedication to more than having the game on (although they still have that). Sports bars today have menus with inventive new dishes and the classics, all done to a whole new level.
How big is the bar and nightclub industry?
Statista reports an industry revenue of approximately $19.9 billion dollar industry revenue across an estimated 62,500 locations. The following Bar and Nightclub industry summary is from First Research which also sells a full version of this report.
What was the sports nutrition market size in 2017?
The global sports nutrition market size was valued at USD 11.64 billion in 2017. It is expected to register a 9.7% CAGR during the forecast period. Surging demand for various kinds of protein bars, energy drinks, and dietary supplements among bodybuilders and athletes is one of the key factors stoking the growth of the market.
What are the most popular age groups in the bar industry?
The 35 to 44 age group is 19.8% of industry revenue. These customers tend to have less free time to visit bars but have begun to become more financially established, spending more than their younger counterparts. Consumers aged 45 to 54 are 17.4% of industry revenue.
Who are the leading companies in the UK’s nightclubs market?
Leading companies in the less-fragmented UK market include pub operators Ei Group and Punch Taverns, as well as the nightclub chain The Deltic Group. Bar and nightclub culture varies significantly from region to region.