India Pub, Bar, Café, Lounge (PBCL) Market to Grow at a CAGR 11.7% until 2022
Increasing curiosity and awareness
among consumers, rising working population indulging in socializing at bars and
lounges and growing trend of late night parties and events among youngsters is
expected to drive India PBCL market through 2022
According to a TechSci Research report,
“India
Pub, Bar, Café, Lounge (PBCL) Market By Ownership, By Outlet
Type, Competition Forecast & Opportunities, 2012 – 2022”, the India PBCL market is forecast to
register a CAGR of 11.7% during 2017-2022. Growth in the country’s PBCL market
is predominantly attributed to increasing disposable income of the consumers, which
allows them to indulge more into leisure activities, rising working population
in the age group of 22-45 and increasing influence of the western culture. Over
the last decade, the country has witnessed a significant increase in the
consumption of alcohol. According to WHO’s report on global health, in 2014,
more than 30% of the Indians aged above 15 years consumed alcohol on a regular
basis and almost 11% of the population are moderate to heavy drinkers. This
factor has influenced the PBCL market in a positive way and the trend is
expected to prevail over the next five years.
Browse 31 Figures and Tables
spread through 72 Pages and an in-depth TOC on "India
PBCL Market"
https://www.techsciresearch.com/report/india-pub-bar-caf%C3%A9-lounge-pbcl-market/1515.html
On the basis of ownership,
India PBCL market is broadly segmented into chain outlets and standalone
outlets. In 2016, standalone outlets dominated India PBCL market, and the
segment is expected to continue its dominance during the forecast period as
well. However, factors like high licensing cost and operational hazards
associated with them are expected to decline the segmental share in the coming
years, thereby paving the way for higher growth in chain outlets. Among
regions, the country’s west region dominated India PBCL market, followed by
south, north and east regions. West region is expected to generate significant
demand for PBCL outlets and is anticipated to hold its position as the largest
regional market during the forecast period as well, due to the region’s high urban
population coupled with increasing tourist footfall. In 2016, Impresario
Entertainment and Hospitality Pvt. Ltd., Olive Bar and Kitchen Pvt. Ltd.,
Massive Restaurants Pvt. Ltd., JSM Corporation Pvt. Ltd., BTB Marketing Pvt.
Ltd., Foodlink Restaurants India Pvt. Ltd., deGustibus Hospitality Pvt. Ltd.,
Bistro Hospitality Pvt. Ltd., Big Chill Café, and Azure Hospitality Pvt. Ltd.
were few of the leading players operating in India PBCL market.
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“With increasing per capita
spending on leisure activities, rising working population coupled with rising
trend of socializing at bars & lounges, PBCL market in India is likely to
grow at a swift pace. Further, factors like greater accessibility of such
places, and new and innovative techniques adopted by the service providers to
attract customers are further expected to boost the country’s PBCL market in
the coming years.,” said Mr. Karan Chechi, Research Director with TechSci
Research, a research based global management consulting firm.
“India
Pub, Bar, Café, Lounge (PBCL)
Market By Ownership, By Outlet Type, Competition Forecast & Opportunities, 2012 – 2022” has evaluated the future growth
potential of India PBCL market and provides statistics and information on
market structure, size, share and trends. The report is intended to provide
cutting-edge market intelligence and help decision makers to take sound
investment decisions. Besides, the report also identifies and analyzes the
emerging trends along with essential drivers, challenges and opportunities present
in the India PBCL market.
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