The rising coffee culture and the increasing advancements in the coffee machine for the residential and commercial sector will fuel the global coffee machine market through 2028
According to TechSci Research report, “Global Coffee Machine Market– Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2018-2028F”, The global coffee machine market is expected to advance at a CAGR of around 6-8%. It will reach around more than USD10328.97 Million in 2022 owing to the increasing demand of non-alcoholic and low-sugar beverages it will significantly increase the popularity of coffee culture and will boost the demand for coffee machines in the market.
As per the data provided by International Coffee Organization, the demand for total coffee production in 2021 was 167.2 million 60-kilogram bags. Additionally, the consumption of coffee rose to 170.3 million 60-kilogram bags which is 3.3% more as per the previous year. Additionally, coffee provides several health benefits, such as drinking more coffee decreases the chances of getting affected by Type 2 diabetes and reduces the risk of heart failure. Thus, these factors are significantly impacting the demand of coffee machines in both residential and commercial sectors.
Due to the rising demand for coffee, companies that sell beverages are making investments in the necessary machinery and developing novel approaches, like coffee capsules, to provide customers with better-taste. Due to the growing demand for instant non-alcoholic beverages, coffee machines are increasingly being used in cafeterias and restaurants. This increases the requirement for coffee capsules supporting the expansion of the coffee machine market. The main causes of the rising demand for coffee makers around the world are ease of use and reliable brewing results.
The increasing number of cafes, coffee shops and restaurants in the world is boosting the demand for coffee machines. As per the data provided by a report, there are more than 15 million coffee shops in the world and the revenue from the coffee industry was estimated to be USD90277 million in the year 2022. Thus, with the increasing development of coffee shops it will influence the demand of coffee machines globally. Moreover, the rise in tourism and travel industry is expected to impact the demand of coffee machines.
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The global coffee machine market is segmented based on product type, technology, end-user, distribution channel, region, and competitional landscape. Based on product type, the market is fragmented into espresso coffee machine, filter/drip coffee machine, and pod/capsule coffee machine. Based on technology, the market is fragmented into semi-automatic and fully automatic. Based on end-user, the market is segmented into food service, offices, residential, institutional sector, and others (Airports, Automotive Showrooms, Caterers, Hospitals, etc.). Based on distribution channels, the market is divided into distributor/direct sales, multi branded stores, online, and others (supermarket/hypermarket, speciality stores, etc.). The online market saw a significant growth due to the global COVID-19 lockdown in different countries..
Key Market Players in the Global Coffee Machines Market include:
- De’Longhi S.p.A.
- Groupe SEB
- Keurig Dr Pepper Inc.
- Nestlé S.A.
- JURA Elektroapparate AG
- EVOCA S.p.A.
- Luigi Lavazza S.p.A
- Koninklijke Philips N.V.
- BSH Home Appliances
- Rancilio Group S.p.A.
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One major trend propelling the expansion of the coffee machine market is the emergence of smart coffee makers with Bluetooth or Wi-Fi connectivity. Smartphone users may access smart coffee makers, monitor them from anywhere in the house, and issue commands to them. The majority of coffee machines software allows setting the brew settings and schedule brew times. For instance, Nestlé S.A. launched a new range of contactless coffee machines. These coffee machines could be easily accessed through smartphones. With the increasing concern of COVID-19, the company looks forward to increasing their market share with the new range of coffee makers.
“The demand for coffee makers is risingwith increased coffee production and consumption.. Due to shifting consumer habits and rising per capita income, there is a growing demand for coffee makers. The introduction of suitable, and coffee makers for home usage along with the expansion of technological innovation and smart features by different companies are additional key elements driving the demand for coffee machines in various countries..” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Global Coffee Machine Market, Segmented By Type (Espresso Coffee Machine, Filter/Drip Coffee Machine, Pod/Capsule Coffee Machine), By Technology (Semi-Automatic, Fully Automatic), By End User (Food Service, Offices, Residential, Institutional Sector, and Others (Airports, Automotive Showrooms, Caterers, Hospitals, etc.), By Distribution Channel (Distributor/Direct Sales, Multi Branded Stores, Online, and Others (Supermarket/Hypermarket, Speciality Stores, etc.) By Region, By Competition”, has evaluated the future growth potential of biodegradable cutlery market globally and provides statistics and information on market structure, size, share, and future growth. The report provides cutting-edge market intelligence and helps decision-makers to make sound investment decisions. Besides, the report also identifies the emerging trends along with essential drivers, challenges, and opportunities present in the biodegradable cutlery market.