Market Research Future (MRFR) has published a cooked research report on the “Coffee Machines Market” that contains information from 2018 to 2030. The Coffee Machines Market is estimated to register a CAGR of 6.57% during the forecast period of 2023 to 2030.
MRFR recognizes the following companies as the key players in the global Coffee Machines Market — Keurig Green Mountain Inc. (U.S.), Panasonic Corporation (Japan), Nestlé S.A. (Switzerland), Newell Brands (U.S.), De'Longhi Group (Italy), Electrolux AB (Sweden), Melitta (Germany), Morphy Richards (U.K.), Koninklijke Philips N.V.(Netherlands), and Hamilton Beach Brands Inc. (U.S.).
The global Coffee Machines Market is accounted to register a CAGR of 6.57% during the forecast period and is estimated to reach USD 13.12 Billion by 2030.
the coffee machine market had been experiencing significant growth due to the increasing global demand for coffee and the rising popularity of specialty coffee beverages. Coffee machines come in various types, catering to different consumer preferences and commercial needs.
The global Coffee Machines Market has been segmented based Type, Technology, and End-user.
The Coffee Machines market segmentation, based on type, includes Filter Coffee Machines, Capsules or Pod Coffee Machines, Traditional Espresso machines, And Bean-To-Cup Coffee Machines. filter coffee machines segment is expected to hold a major share of the market as these machines are more affordable compared to espresso type of machines. Additionally, lesser repair & maintenance costs as well as adequate automated features of the drip filter machines are some of the factors that are further driving the segment growth.
Based on Technology, the Coffee Machines' market segmentation includes Manual, Semi-Automated, and Fully Automated. The semi-automated segment is expected to hold the largest share of the market as they are more affordable as compared to the automated type of machines. Additionally, people are more likely to prefer semi-automated machines as a user can brew a cup of coffee within a quick period.
Based on End-user, the Coffee Machines market segmentation includes Residential, Commercial, Office, and Hotels & Restaurants. The residential segment is expected to hold a major share of the market owing to the large consumption volume of coffee bags among households which results in the large domestic coffee machine consumption volume. According to the data presented by the United States Department of Agriculture (USDA), as of 2019-2020, the European Union's domestic coffee consumption volume reached 45.85 billion kg. bags.
The global Coffee Machines Market, based on region, has been divided into America, Europe, Asia-Pacific, and the Rest of the World. North America is accounting for 39.01 % of the market proportion in the year 2021 and it is projected to expand at a high CAGR of 5.30% in the forecast period of 2022-2030. The growing benefits associated with the consumption of coffee in the region are expected to increase its demand during the forecast period. For instance, according to the American College of Cardiology, the largest benefit was associated with two to three cups of coffee per day, which equated to a 10%–15% decreased risk of coronary heart disease, heart failure, a cardiac rhythm issue, or passing away for any reason. People who drank one cup of coffee each day had the lowest risk of heart disease or stroke. Apart from this, the growing expansion policies adopted by major players operating in the region are expected to further contribute to its market growth.
Europe is also accounting for a significant market share in the Coffee machines market in the year 2021 and is expected to grow at a CAGR of 5.35% during the forecast period 2022-2030. The market in Europe is expected to grow significantly during the forecast period owing to the increasing demand for several specialty coffees, the development of new technologically advanced products, and rising demand for easy-to-use capsules/pod coffee and automatic bean-to-cup machines. For instance, in May 2021, Lavazza Professional launched, Flavia Creation 600 (C600) coffee machines which the company describes as “the single biggest step-change Flavia has ever come across. The company also introduced a new selection of coffee alternatives to UK employees as part of a reinvented beverages menu in advance of the reopening of offices there. Strategic partnerships and collaborations between major players are expected to contribute to the growth of the market in the region.
Key Findings of the Study