Leading analysts in the food service industry are surprised at the pace at which the café market has been growing in the past one decade. The interesting part is that this trend is not limited to the western regions alone; rather it is highly evident in the developing economies as well. This world food day, we try to analyze the reasons behind the growing popularity of bars, espresso shops, bar restaurants, and snack bars.
Why are the cafes and bars brimming with people?
With socializing being one of the major activities of the millennials, cafes and bars have emerged as the most comfortable hangouts. The ambience, the freedom, and the variety of food options, have only added to the attraction of these places. Another major factor contributing to more and more people flocking towards cafes is the increased amount of disposable income due to several white-collar jobs. Most of all, the attitude of “YOLO” (you only live once) is driving a major chunk of this population to try out new things, and spend more time indulging themselves in various luxuries of life.
In fact, a closer analysis shows how with the price of coffee and beer being almost at par, pubs have mushroomed in every nook and corner of major cities. This urban influx, and influence of western culture are perhaps the two major reasons why even countries in the APAC region are seen as the best places to set up chains of major brands of cafés and bars.
Brands which are raking in the moolah due to the café boom
1) Starbucks
The American coffeehouse chain is regarded as one of the ‘coolest’ hangouts by the millennials. Known for its highest quality Arabica coffee, the place is quite popular due to the approachable ambience and variety of beverages provided here. Seen as one of the best places for even quick business meetings, Starbucks clearly has made inroads in the cities of emerging economies like China, Indonesia, and India.
2) McDonald’s
It would be no exaggeration to say that you can find a McDonald shop in almost every part of the world. Making most of the fast food culture, this is one brand which has very easily gained monopoly not only in its parent country, but in nations around the globe. Also, its experimentation with region specific food and beverage offerings is one major reason the brand is going strong from the past one decade.
3) Dunkin’ Brands
The American restaurant holding company, is well known for its two major fast-food chains – Baskin-Robbins and Dunkin’ Donuts. One of the leading franchisors of QSR, the brand has more than 19,000 points of distribution in nearly 60 countries worldwide. Highly active in several CSR activities, this is one brand which has introduced donuts in countries which until recently were quite conservative in terms of baked sweets and confectionaries.
4) Whitbread
UK’s largest hospitality company, Whitbread is the owner of brands like Premier Inn, Costa Coffee, and Brewers Fayre. With its presence in almost all the major cities throughout the globe, Whitbread shares the major credit of expansion of the café culture outside the United Kingdom.
5) Restaurants Brands International (RBI)
One of the prominent QSR brands, RBI is a Canadian multinational fast food company. The result of a merger between Burger King and Tim Hortons, RBI has, in a very short span of time, not only established itself as a major name in the industry– but also has expanded at an enormous pace outside the Canadian market. Popeyes is yet another of its most sought-after food and beverages chain.
