Alcohol consumption

High Alcohol Consumption to Drive Bar Fixtures Market to Reach US$4,086.6 Million in 2032 | Future Market Insights, Inc.

In 2022, North America is expected to be dominated by the US bar and wine tools market, which will lead to a market share of 29.3% in 2022. Currently, the US holds a share of approximately 60% of the bar accessories market in North America, primarily due to the market’s diverse product offerings and extensive network of distribution channels across the country.

NEWARK, DE /ACCESSWIRE/September 12, 2022/ The Global bar accessories market is expected to reach a value of US$ 4,086.6 million in 2032, with the market growing at a moderate CAGR of 5.4% over the forecast period 2022 to 2032. In 2022, the bar accessories market is expected to reach around US$2,415.2. Mn driven by the continued popularity of wine and alcohol consumption. New emerging trends in accessories based on different shakers, glassware and many more are further complementing the growth of this market over the forecast period.

The growing presence of prominent winemakers and commercial winemakers and their adoption of new technologies will likely bode well for the bar accessories market. Wine is consumed more often than any other alcohol because wine producers offer wine that is reduced in alcohol and calories. This is expected to support the growth of the bar accessories and tools market. Again, the accelerating rise of small home bars, pubs, large restaurants and many more is fueling the demand for beverage making equipment, which in turn is driving the bar accessories market.

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The use of recyclable and reusable products instead of plastic products is also driving the market growth. Many bars are replacing their conventional plastic straws with straws made of metal, hay or other biodegradable materials. This trend meets both environmental and aesthetic goals and fosters a growth environment for the bar accessories market.

People of all age groups – Millennials, Baby Boomers, Gen Z – are increasingly interested in the green bar accessories segment, which is bolstering the overall growth of the bar accessories market. The trend of personalized bar accessories such as a personalized shaker, glass and mug is also contributing to the bar accessories market. On top of all that, many bartenders want to create the perfect drink and a variety of mixes. This improves the prospects of the bar accessories market due to the growing need for tools to produce cocktails and other beverages.

“The growing presence of bars and clubs has led to an increase in alcohol consumption which is expected to support the growth of the bar accessories market over the forecast period,” says an IMF analyst.

Key points to remember:

  • The expansion of the bar and club industry is expected to present many lucrative market opportunities.
  • The United States holds about 60% of the bar accessories market in North America.
  • By the end of 2022, Europe is expected to hold around 24.6% of the overall market share.
  • Marketplace startups are taking advantage of progressive technology to establish themselves in the market.

Competitive landscape

Simple Modern, VIP, HYDRO FLASK, Home Brew Ohio, Thirstystone, Juvale, The Pioneer Woman, and others, are some of the top Barware market players which are profiled in the full version of the report.

The major players in the market want to develop distinct styles and use different materials to market the tools and accessories to expand the consumer base.

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More information about the Bar Accessories market report

In its latest report, FMI offers an unbiased analysis of the global bar accessories market, providing historic data from 2016 to 2021 and forecast statistics from 2022 to 2032. To understand the potential, growth, and scope of the global market, the market is segmented on the basis of bar tools (bar utensil sets, bottle openers, shakers, corkscrews and openers, foil cutters, glass markers and charms, ice buckets and tongs sets ), wine tools (wine accessory sets, wine bottle coolers, wine drip rings, wine stoppers and pourers, wine thermometers), material (aluminum, brass, copper, crystal, glass , gold plated, iron/metal) and region.

According to the latest IMF reports, based on the region, the bar accessories market in the United States is expected to witness considerable growth over the forecast period. The country currently accounts for approximately 60% of the bar accessories market in North America. This growth can be attributed to a wide range of products offered by market players in this region as well as the increasing consumption of alcohol.

In Europe, the bar accessories market is expected to flourish during the forecast period. Europe is expected to hold around 24.6% of the total market share by the end of 2022. Increasing consumption of high-end wine and increasing preferences of tourists are responsible for the growth of the regional market in during the forecast period.

Key segments of the bar accessories market

By bar tools:

  • Barware sets
  • bottle openers
  • Cocktail shakers
  • Corkscrews and cork openers
  • Leaf cutters
  • Glass markers and charms
  • Ice buckets and tong sets

By WineTools:

  • Wine Accessory Sets
  • Wine bottle coolers
  • wine drip rings
  • Stoppers and spouts
  • Wine thermometers

By Material:

  • Aluminum
  • Brass
  • Copper
  • Crystal
  • Glass
  • gold plated
  • Iron/Metal

By region:

  • North America
  • Latin America
  • Asia Pacific
  • The Middle East and Africa
  • Europe

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Contents

1. Summary

1.1. Global Market Outlook

1.2. Demand Side Trends

1.3. Supply-side trends

1.4. Analysis of the technology roadmap

1.5. Analysis and recommendations

2. Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limits

3. Market context

3.1. Market dynamics

3.1.1. Drivers

3.1.2. Constraints

3.1.3. Opportunity

3.1.4. Tendencies

3.2. Scenario forecast

3.2.1. Demand in the optimistic scenario

3.2.2. Demand in Likely Scenario

3.2.3. Demand in the conservative scenario

3.3. Opportunity Map Analysis

3.4. Product life cycle analysis

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