Bars & Nightclubs in Canada - Industry Market Research Report

Bars & Nightclubs in Canada - Industry Market Research Report

Bars & Nightclubs in Canada

The Bars and Nightclubs industry in Canada has been negatively affected by several social trends, including increased alcohol consumption at home rather than at industry establishments and a declining per capita alcohol consumption over the five years to 2023. Furthermore, rising alcohol prices, wariness of drunk driving, and evolving attitudes toward alcohol consumption have constrained revenue growth. Per capita consumption of alcohol is expected to fall marginally, decreasing an annualized 0.4% over the five years to 2023. Furthermore, the industry has experienced heightened competition from other sectors that serve alcohol, like restaurants and a growing number of entertainment options. Additionally, COVID-19 caused the shutdown of industry establishments for several months. As a result, industry revenue is expected to decline an annualized 6.0% to $2.5 billion over the five years to 2023. Subsequently, industry profit also decreased during the period. However, revenue is expected to increase 13.3% in 2023 alone, primarily because of the easing of COVID-19 restrictions, the rise of social media, the growing popularity of craft beer and cocktails, and the increasing number of millennials.

The Bars and Nightclubs industry in Canada includes bars, taverns, nightclubs and drinking places that serve alcoholic beverages for immediate consumption. These establishments may also provide limited food services.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.