Dry times: COVID-19 restrictions and venue closures severely drained wine bars' revenue
Revenue for the Wine Bars industry is declining, largely due to the effects of the COVID-19 pandemic. Social distancing measures and lockdowns have significantly reduced demand for wine bars. Wine bars' revenue fell sharply over the two years through 2020-21. Revenue has dropped at an annualised 3.8% over the five years through 2022-23, and is expected to total $514.9 million in 2022-23, with revenue growing 1.4%.
The industry includes lounges and bars that primarily prepare and serve wine for immediate consumption. These establishments can also offer food to complement the beverages served.
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.
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Methodology
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