ID: MRFR/CR/6939-CR | February 2021 | Region: Global | 111 pages
Market Research Future (MRFR) projects the Coffee Machines Market to capture a growth rate of 4.60% between 2019 and 2027 (evaluation period). The coffee machine market share is also bound to touch USD 11,950.1 Million by 2027, adds Market Research Future.
The lockdown following the COVID-19 outbreak has had a devastating effect on a number of industries, considering the temporary shutdown of several manufacturing facilities and the significant drop in consumer demand. The coffee machine industry has observed detrimental effects of the SARS-CoV-2 pandemic, which has encouraged vendors to focus more on bolstering their supply chains and accelerating their operations to develop a wider range of products, to once again capture the attention of the consumers. Also, with the lockdown being lifted up across countries and the novel coronavirus seemingly under control, the demand for different types of coffee machines, especially in corporate offices is projected to gain traction.
Surge in Coffee Drinking Population to Benefit Global Market
The dramatic growth in the coffee drinking population worldwide and the mounting popularity of specialty coffees has led to significant market expansion in recent years. The commercial sector’s strong growth, especially in developing countries has also been favorable for the coffee machines industry. The emergence of the food service industry as a key end-user and the surging number of offices with kitchenettes could also foster the sales of advanced coffee machines in the following years.
Players are majorly focusing on integrating various technological features in coffee machines, which can further widen the market’s growth scope over the coming years. The escalating need for coffee machines with pre-grinding and pre-infusion features among consumers is likely to give rise to new growth avenues in the global industry during the review timeframe.
Mounting Demand for Organic Coffee to Offer Growth Opportunities
Lately, there has been a striking rise in the demand for organic products among consumers, giving a significant boost to the sales of organic and green coffee. This is believed to be a prominent opportunity for players in the global market. The situation is further favored by the rising awareness regarding the health benefits of organic coffee, including reduction in risks related to liver cancer, liver diseases and type 2 diabetes and heart diseases.
High Costs of Advanced Coffee Machines to Hamper Market Growth
High costs of technically advanced coffee machines could be a major challenge, as it discourages the demand among end-users. Soaring number of private firms specializing in coffee machines could curb the market growth over the appraisal period.
Traditional Espresso Machines to Enjoy High Demand
Various types of coffee machines in the market include Capsule or Pod Coffee Machines, Filter Coffee Machines, Bean-to-Cup Coffee Machines and Traditional Espresso Machines. Technological innovations prompt companies to launch products with smart features including Wi-Fi technology, smart phone connectivity and touch screen, which could bolster the growth of the traditional filter coffee machine segment in the years ahead.
Fully Automated Coffee Machines Gain Traction in Corporate Sector
Top categories discussed in the report include semi-automated as well as fully automated. Fully automated coffee machines have become quite popular in line with the emergence of late night office culture, with the rising number of time-pressed corporate workers. These types of coffee machines have sophisticated technology and offer the provision of reduced time for coffee preparation.
Commercial Coffee Machines to Note Robust Demand
Household and commercial are the top end-use segments listed in the report. Commercial coffee machines are in huge demand across the mounting number of restaurants and cafes worldwide. The rapid growth of the corporate sector also fosters the demand for commercial coffee machines or industrial coffee machines.
North America Secures the Top Position
North America should remain the market leader throughout the analysis period. North America’s share in the coffee machines market was 34.93% in 2018, with the US and Canada emerging as the top contributors. Coffee machine market USA is touted to take the lead, in view of various manufacturers in the country focused on diversifying their ranges by launching innovative coffee machines with intelligent features. In addition, the burgeoning population of coffee drinkers also strengthens the market’s hold in the region.
APAC Market to Grow at Accelerated Pace
Asia Pacific should record the fastest CAGR of 5.82% between 2019 and 2027, in view of fast urbanization and the expanding middle-income population base in China, Japan and India. The mounting number of cafés, restaurants, hotels, homes and companies, and the rising spending capacity of consumers in the region also add to the market value.
Vendors Focus on R&D and Launch of New and Innovative Products
Reputed firms are majorly focused on capturing bigger shares in the global market, backed by strategies including product innovations and significant spending on R&D activities to come up with innovative products. Considering these developments, the competition level between coffee machine manufacturers is expected to intensify in the ensuing years.
MRFR critically analyses the coffee machine market size, taking into account the base year, projected period as well as the size during the given period. The market study also comprises some of the key developments post the COVID-19 outbreak in the market. The US hair care market analysis and organic hair care market size have also been focused on by MRFR experts. Besides, the coffee machine manufacturers and the key strategies they adopt to remain competitive in the market are also given in the MRFR report. Other segments covered in the report include the capsule coffee machine market size as well as the growth scope of the automatic coffee machines market.
Scope of the Report
The scope of the report extensively covers coffee machine market analysis, and forecasts the size of home coffee machines market during the review period. The report also presents the latest business scenario of the coffee maker market, coupled with the historical and the projected coffee machine market size. The report also focuses on various industrial coffee machines, commercial coffee machines and other types of coffee machines in the market.
Global Coffee Machines Market, By Type
Global Coffee Machines Market, By Category
Global Coffee Machines Market, By End-Use
Frequently Asked Questions (FAQ) :
Coffee machines market valuation would be 4.76% during the forecast period.
Coffee machines market valuation would be USD 11.81 billion.
The filter coffee segment would drive coffee machines market ahead.
North America would lead coffee machines market.
The APAC region would be the fastest-growing coffee machines market.