Bars & Nightclubs in the US - Industry Market Research Report

Shaken not stirred: Industry revenue will likely grow due to increased consumer spending away from away

Bars and nightclubs experienced substantial volatility over the past five years, largely due to the pandemic, nonessential business closures and social distancing. Bars and nightclubs are in-person businesses. It is nearly impossible for them to conduct business otherwise. During periods of nonessential business closures, most bars and nightclubs were unable to operate at all. Even when they reopened, social distancing measures and health concerns meant caps on the number of customers allowed inside at a given time and fewer patrons in general. The sharp decline in operations resulting in revenue tanking in 2020. In 2021, bars and nightclubs reopened in full and the public began getting vaccinated, relieving many of social distancing concerns. As a result, revenue skyrocketed in 2021 and continued growing strong in 2022. Over the five years to 2023, revenue will grow at a CAGR of 2.2% to $36.4 billion, including a decline of 0.3% in 2023 alone. This industry includes bars, taverns, pubs, lounges, nightclubs and other drinking places that primarily prepare and serve alcoholic beverages for immediate consumption. These establishments may also provide limited food services. This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.