$37.8bn
$X.Xbn
331k
62,637
$XX.Xbn
Bars and nightclubs have experienced a rollercoaster of change over the past five years, mainly as a result of of external shocks caused by the COVID-19 pandemic. Restrictions on nonessential businesses caused a significant downturn in 2020, as many establishments found operating impossible. Bars and nightclubs have traditionally revolved around in-person experiences, severely curtailed by public health measures and social distancing guidelines.
Industry revenue has grown at a CAGR of 1.9 % over the past five years, to reach an estimated $37.8bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
Hakkasan Group | 360.0 | 8.6 | 2.4 | |
Groot Hospitality | 46.5 | 1.1 | 2.4 | |
The Baldwin Bar | 5.3 | 0.1 | 2.4 |
To view the market share and analysis for all 6 top companies in this industry, view purchase options.
Industry revenue is measured across several distinct product and services lines, including Sale of distilled spirit drinks, Sale of wine drinks and Sale of beer and ale. Sale of distilled spirit drinks is the largest segment of the Bars & Nightclubs in the US.
Innovative distilled spirit drinks fuel rising demand
This industry includes bars, taverns, pubs, lounges, nightclubs and other drinking places that primarily prepare and serve alcoholic beverages for immediate consumption. These establishments may also provide limited food services.
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NAICS 72241 - Bars & Nightclubs in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
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Bars and nightclubs must focus on serving what customers can't easily replicate at home, like mixed drinks and draft beers. Sales of wine and bottled beverages are far lower ...
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College towns are great locations for bars and nightclubs. Because of its high concentration of college towns, the Great Lakes region has the most bars and nightclubs in the ...
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Competition between bars and nightclubs is fierce and growing. Owners must stand out from the pack by employing highly skilled workers, cornering a niche market or providing ...
Learn about the performance of the top companies in the industry.
The average bar or nightclub is small, resulting in no one business capturing a notable share of revenue. The average owner has just one location and employs 10 or fewer indi...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Liquor licenses are required for bars and nightclubs and are regulated at the state level. Owners should become aware of state-specific guidelines pertaining to liquor licens...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Rising wage costs cut into profit. Owners must garner a loyal customer base to weather the ups and downs and better pass along the operational cost increases.
Including values and annual change:
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Key data sources in the US include:
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
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The market size of the Bars & Nightclubs in the US industry in United States is $37.8bn in 2024.
There are 62,637 businesses in the Bars & Nightclubs in the US industry in United States, which has declined at a CAGR of 1.0 % between 2019 and 2024.
The market size of the Bars & Nightclubs in the US industry in United States has been growing at a CAGR of 1.9 % between 2019 and 2024.
Over the next five years, the Bars & Nightclubs in the US industry in United States is expected to grow.
The biggest companies operating in the Bars & Nightclubs market in United States are Hakkasan Group, Groot Hospitality and The Baldwin Bar
Operating licensed bars and Operating nightclubs are part of the Bars & Nightclubs in the US industry.
The company holding the most market share in United States is Hakkasan Group.
The level of competition is high and increasing in the Bars & Nightclubs in the US industry in United States.