Pop a cork: Growing UK wine production will lower purchase costs for wine bars
The Wine Bar industry is highly fragmented, as there are only a few advantages to opening more than one location. Profitability rarely expands with the scale of operation, meaning most establishments are individually owned and cater to the local market. Wine bars generated strong revenue growth over the three years through 2019-20, benefitting from rising disposable incomes and growing demand for fine dining, satisfied by the upmarket nature of industry establishments. The COVID-19 outbreak forced pubs and bars to close, slashing revenue by almost half in 2020-21. Lifting all social distancing restrictions in 2021-22 caused income to bounce back by 39.5%. While wine bars' revenue is set to expand by 15.7% in 2022-23, macroeconomic pressures and falling real household disposable will weigh on growth prospects.
The Wine Bars industry comprises lounges and bars that primarily focus on selling wine for immediate on-premise 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.
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