Bar Tools Market Forecast to 2028 | Size, Share & Growth Factors

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)

Publication Month : May 2022

  • Report Code : TIPRE00028273
  • Category : Consumer Goods
  • Status : Published
  • No. of Pages : 129
Inquire Before Buy

PRICING

$4550

$3640

The bar tools 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.

Bar tools assist the consumers in upgrading their mixology skills at-home bar. Different type of bar tools have their own significance, and they contribute to preparing and serving a quality drink at home.

In 2020, North America dominated the global bar tools market; it is expected to retain its dominance during the forecast period. Increasing alcohol consumption and growing inclination toward having an in-house bar are driving the bar tools market in North America. In North American countries such as the US, Canada, and Mexico, alcohol drinking is a part of all elements of social and family life in both urban and rural populations, which is having a positive impact on the market. Asia Pacific is expected to be the fastest-growing region during the forecast period due to the growing influence of western culture and increasing consumption of alcohol by the middle-class population in countries such as India and China.  

Customize Research To Suit Your Requirement

We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.

Bar Tools Market: Strategic Insights

bar-tools-market
Market Size Value inUS$ 1,788.58 million in 2021
Market Size Value byUS$ 2,334.89 million by 2028
Growth rateCAGR of 3.9% from 2021 to 2028
Forecast Period2021- 2028
Base Year2021
Analyst Image

Shejal

Have a question?

Shejal will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.

Analyst Image  Speak to Analyst

Bar Tools Market Forecast, by Region, 2021–2028

  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
  • Request discounts available for Start-Ups & Universities

Market Insights

Increased adoption of E-Commerce

The e-commerce industry is growing rapidly worldwide. Many consumers are increasingly using e-commerce platforms due to their convenience, ease of use, accessibility to various products, and cost-effectiveness. The bar tool companies are increasingly using social media platforms to launch marketing campaigns as social media offers many benefits, such as targeting specific customer segments, enabling a wider reach, and adaptability while being fairly inexpensive to use. Along with this, bar tool manufacturers are also listing their products on e-commerce platforms such as Amazon, Flipkart, and eBay, which is providing growth opportunities for the bar tools market.

Type Insights

Based on type, the bar tools market is segmented into cocktail glasses, cocktail shakers, bottle openers, bar tool sets, and others. The cocktail shakers segment is expected to be the fastest-growing segment. The rising trend of creating new drinks at home has led to the increased use of cocktail shakers for mixing purposes. The cocktail shaker is available in different types of materials, ranging from stainless steel to copper. It is an essential item for the in-house bars. Its built-in strainer helps separate the liquids from the ice and other ingredient particles.

Bar Tools Market Share, by Type, 2020–2028

  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
  • Request discounts available for Start-Ups & Universities

Carlisle FoodService Products, Cocktail Kingdom LLC, Cresimo, Viski, Norpro Inc., OXO, SAHM, Vacu Vin, Rabbit, and Julisk are among the key players operating in the bar tools market. The leading players adopt several strategies, such as mergers & acquisitions and product launches, to expand their geographic presence and consumer base.  

Report Spotlights

  • Progressive trends in the bar tools industry to help players develop effective long-term strategies
  • Business growth strategies adopted by companies to secure growth in developed and developing markets
  • Quantitative analysis of the global bar tools market from 2019 to 2028
  • Estimation of the demand for bar tools across various industries
  • Porter’s analysis to illustrate the efficacy of buyers and suppliers operating in the industry in predicting the market growth
  • Recent developments to understand the competitive market scenario and the demand for bar tools  
  • Market trends and outlook, coupled with factors driving and restraining the growth of the market
  • Understanding the strategies that underpin commercial interest with regard to the global market growth, aiding in the decision-making process
  • The bar tools market size at various nodes of the market
  • Detailed overview and segmentation of the global bar tools market and its industry dynamics
  • The bar tools market size in various regions with promising growth opportunities

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 bar tools 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 the 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. Asia Pacific is expected to be the fastest-growing region, followed by the South & Central America.

Company Profiles

  • Carlisle FoodService Products
  • Cocktail Kingdom LLC
  • Cresimo
  • Viski
  • Norpro Inc
  • OXO
  • SAHM
  • Vacu Vin
  • Rabbit
  • Julisk
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Type and Distribution Channel

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, South Africa, South Korea, United Arab Emirates, United Kingdom, United States

Frequently Asked Questions


Can you list some of the major players operating in the global bar tools market?

The major players operating in the global bar tools market are Carlisle FoodService Products, Cocktail Kingdom LLC, Cresimo, Viski, Norpro Inc., OXO, SAHM, Vacu Vin, Rabbit, and Juliska among others

What are the opportunities for bar tools in the global market?

The increasing development of innovative bar tools from various manufacturers can provide potential growth opportunities for the bar tools market in the coming years.

Based on the distribution channel, why does the specialty stores segment have the largest revenue share?

Based on the distribution channel, the specialty stores segment accounted for the largest revenue share as these shops also provide an excellent consumer experience with unique features such as high-level customer service, premium offers, and special discounts.

What is the largest region of the global bar tools market?

North America accounted for the largest share of the global bar tools market due to youngsters in the region are opting for house parties rather than going out in bars, which increases the demand for bar tools in residential areas.

Based on type, which is the fastest-growing segment in the bar tools market?

Based on type, cocktail shakers are the fastest-growing segment. The cocktail shaker is being increasingly used in in-house bars to create bar-like cocktails at home.

What are the key drivers for the growth of the global bar tools market?

The rising inclination toward in-house bars and the increasing adoption of E-Commerce are some of the key driving factors for the bar tools market.

The List of Companies - Bar Tools Market
  1. Carlisle FoodService Products
  2. Cocktail Kingdom LLC
  3. Cresimo
  4. Viski
  5. Norpro Inc.
  6. OXO
  7. SAHM
  8. Vacu Vin
  9. Rabbit
  10. Juliska

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

Your data will never be shared with third parties, however, we may send you information from time to time about our products that may be of interest to you. By submitting your details, you agree to be contacted by us. You may contact us at any time to opt-out.

Trends and growth analysis reports related to Bar Tools Market