Growing Inclination Toward In-House Bars to Escalate Bar Tools Market Growth During 2021–2028
According to our latest market study on " Bar Tools Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type (Cocktail Glasses, Cocktail Shakers, Bottle Openers, Bar Tool Sets, and Others) and Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Retail, and Others),” the market is expected to grow from US$ 1,788.58 million in 2021 to US$ 2,334.89 million by 2028; it is estimated to grow at a CAGR of 3.9% from 2021 to 2028. The report highlights key factors driving the bar tools market and prominent players and their progress in the market.
Bar tools refer to various tools used by people to prepare alcoholic and non-alcoholic drinks. Bar tools provide convenience to household consumers while preparing the drinks.
Growing alcohol consumption at home and rising inclination toward the construction of in-house bars worldwide are driving the demand for bar tools. People are increasingly constructing bars at home as they provide a relaxing and pleasant environment at home. The construction of in-house bars has become an interior design trend, which is having a positive impact on the bar tools market. In the European region, there has been a growing trend of home bartenders, contributing to the rise in in-house bars. Consumers are demanding creative and stylish cocktail glasses which can be a perfect solution for providing an aesthetic and elegant look to the in-house bars. Moreover, consumers are increasingly focusing on mixing and creating new drinks at home, leading to an increased demand for bar tools such as cocktails or wine shakers, bar spoons, and a measuring jigger. In countries such as France, the UK, Germany, and Australia, there has been an increase in the number of in-house bars. Home bars are increasingly popular in these countries since the younger population is more inclined toward house parties than partying in clubs, bars, or restaurants.
Carlisle FoodService Products, Cocktail Kingdom LLC, Cresimo, Viski, Norpro Inc., OXO, SAHM, Vacu Vin, Rabbit, and Juliska are among the well-established players constituting the majority of the bar tools market share.
Impact of COVID-19 Pandemic on Bar Tools Market
The COVID-19 pandemic adversely affected the consumer goods industry with the shutdown of manufacturing facilities, difficulty in procuring raw materials and components, and restrictions on logistic operations. The disruptions in the supply of raw materials to manufacturers hampered bar tools’ production. The outbreak distorted operational efficiency and disrupted the value chains due to the sudden shutdown of national and international boundaries, creating revenue loss and damage. Various bar tools manufacturers had to temporarily close their operations or limit their production capacities, which negatively impacted the bar tools market growth. During the COVID-19 pandemic, the demand for alcohol at home increased, and the shifting drinking culture positively impacted the bar tools market. The businesses are gaining ground as governments of various countries worldwide have eased out the previously imposed restrictions. The start of operations in the bar tool manufacturing units is positively impacting the bar tools market.
Bar Tools Market Size, by Region, 2021–2028
Bar Tools Market Forecast to 2028 | Size, Share & Growth Factors
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Bar Tools Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Cocktail Glasses, Cocktail Shakers, Bottle Openers, Bar Tool Sets, and Others) and Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Retail, and Others)
Bar Tools Market Forecast to 2028 | Size, Share & Growth Factors
Download Free SampleBar Tools Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Cocktail Glasses, Cocktail Shakers, Bottle Openers, Bar Tool Sets, and Others) and Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Retail, and Others)
The "Global Bar Tools Market Analysis to 2028" is a specialized and in-depth study of the consumer goods industry with a special focus on the global market trend analysis. The report aims to provide an overview of the market with detailed market segmentation. The market is segmented based on type, distribution channel, and geography. Based on type, the market is segmented into cocktail glasses, cocktail shakers, bottle openers, bar tool sets, and others. Based on distribution channel, the market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others. Based on geography, the market is segmented into five main regions—North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. In 2020, North America dominated the market. Asia Pacific is expected to be the fastest-growing region during the forecast period. The growing influence of western culture among people in APAC is bolstering the demand for alcoholic and non-alcoholic beverages, such as cocktails and mocktails. This, in turn, is fueling the demand for bar tools.
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