Industry Analysis & Industry Trends
The Wine Bars industry has enjoyed a stellar run over the past five years and has taken advantage of an evolving hospitality landscape. The industry, which consists of bars that primarily serve large selections of wine rather than draft beer and mixed drinks, has comfortably outpaced the Bars and Nightclubs industry as a whole. Although per capita expenditure on alcohol has experienced only minimal yearly growth in recent years, the industry has achieved significant popularity with both the industry's youngest and oldest consumers. IBISWorld expects the industry to continue to steal market share from other forms of bars and restaurants over the next five years as consumers with rising incomes will continue to seek affordable gourmet dining experiences.... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The Wine Bars industry is in the growth stage of its life cycle. The industry continues to outpace the broader Bars and Nightclubs industry due to changing consumer preferences and rising incomes in urban areas where wine bars are popular. Over the 10 years to 2020, industry value added (IVA), which measures the industry's contribution to GDP, is expected to grow at an average annual rate of 4.3%, compared to projected annualized GDP growth of 2.5% over the same period. The industry's greater contribution to the US economy is one indication the industry is in its growth stage.
Although per capita wine consumption in the United States is relatively low by global standards, consumption has grown considerably over the past few decades... purchase to read more