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Global Barware Market 2018-2022 | 5% CAGR Projection over the Next Four Years | Technavio

November 12, 2018

LONDON--(BUSINESS WIRE)--Nov 12, 2018--The global barware market 2018-2022 is expected to post a CAGR of close to 5% during the forecast period, according to the latest market research report by .

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Technavio predicts the global barware market to post a CAGR of close to 5% by 2022. (Graphic: Business Wire)

A key factor driving the growth of the market is the increasing number of home bars, pubs, bars, liquor-serving cafes, and lounges. The concept of socializing at pubs, bars, and lounges among the urban youth in developed and developing countries is expected to drive the market. The growth in the influx of people to urban areas and a substantially a large white-collared demographic has brought out an increase in the number of pubs, bars, liquor-serving cafes, and lounges. This has a direct impact on the purchase of barware products.

This market research report on the also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.

This report is available at a USD 1,000 discount for a limited time only:

In this report, Technavio highlights the growing popularity of metal barware products as one of the emerging trends in the global barware market:

Global barware market: Use of personalized barware as gifts

Personalizing barware as gifts is popular in Western Europe and North America. The culture of self-gifting has become popular with consumers purchasing personalized gifts for self-use. Customizing gifts using personalization tools, configuration, or on-demand printing enables value and differentiator addition to general gifts.

“The practice of giving gifts is impacted by streamlining designs and building efficient ordering processes, enhancing gifts customization capabilities, and brainstorming ideas to make the process smooth and swift. These measures facilitate customer retention, up-selling, and cross-selling among retailers.” says a senior analyst at Technavio for research on human-machine interface.

Global barware market: Segmentation analysis

This market research report segments the global barware market by end-user (commercial and residential), by distribution channel (retail and wholesale), and by geographical regions (APAC, EMEA, and the Americas).

Out of the two major end-users, the commercial segment accounted for the major share in 2017. The major factor for the growth of this segment is due to the increasing demand.

EMEA led the market in 2017 with a market share of more than 41%, followed by the Americas and the APAC respectively. The dominance of EMEA can be attributed to the increasing use of personalized barware as gifts.

Looking for more information on this market?

Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.

Some of the key topics covered in the report include:

Market Landscape

Market ecosystem Market characteristics Market segmentation analysis

Market Sizing

Market definition Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

Regional comparison Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

Vendors covered Vendor classification Market positioning of vendors Competitive scenario

About Technavio

is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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View source version on businesswire.com:https://www.businesswire.com/news/home/20181112005316/en/

CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

www.technavio.com

KEYWORD:

INDUSTRY KEYWORD: LUXURY RESTAURANT/BAR HOME GOODS RETAIL FOOD/BEVERAGE WINE & SPIRITS

SOURCE: Technavio Research

Copyright Business Wire 2018.

PUB: 11/12/2018 10:03 AM/DISC: 11/12/2018 10:03 AM

http://www.businesswire.com/news/home/20181112005316/en

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