Forecast to recover to 98% of its 2019 value in 2022, the UK pub & bar market valued £22.5bn in 2022, according to the latest Data from Lumina Intelligence’s Operator Data Index.
To compare with the previous year, the company's UK Pub & Bar Market Report 2021?? showed the market was set to grow to a value of £14.8bn this year, a recovery to 64% of the £23n it was worth before the pandemic started.
Back to 2022, the outlet decline in the pub market is slowing following years of declines, with the managed, branded, and franchised segment faring better in the past year due to stronger portfolios and freehold sites.
To keep growing, the pub sector has to focus on changing non-pubgoers perception - a 2022 Mintel study revealed that 46% of people don’t visit pubs because they believe they're too expensive,
Also, pubs and bar operators need to cater to the latest consumer behaviours the Mintel study revealed that only 50% of 18-24s usually drink alcohol when socialising with friends, compared to 59% of all adults.
(sources: Lumina Intelligence & Mintel, image: pexels)