III. Industry Analysis
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[Company Name] competes against small, individually owned wine bars and major regional or national chains. There are 1,610 wine bar businesses in the US and the market size is $2 billion. The wine bar industry in the US has a low market share concentration and has no major players with a market share of greater than 5%.
Growing wine consumption and expenditure on alcohol leads to increased demand for wine bars. Per capita expenditure on alcohol is expected to increase, representing a potential opportunity for the industry. The increasing popularity of wine among young alcoholic beverage consumers has significantly benefited the industry, particularly across metropolitan areas.
In the early part of the millennium, wine bars became very popular and started popping up in many metropolitan neighborhoods across major cities in the United States of America. Wine bars now compete with local hangouts such as coffee shops and local bars. The wine bar sensation offers the taste before people buy philosophy.