Press release
Demand for Coffee Machine Market to Grow at 4.6% CAGR Through 2027
Global coffee machine sales are likely to reach 58,675 thousand units in 2019, growing at over 4% over 2018, according to a Fact.MR study. As coffee machines gain prominence in traditional as well as non-traditional coffee drinking markets, the growth trajectory of the market will witness a steady rise. The evolving demand trends in the coffee machine market can be attributed to,• Dissemination of knowledge regarding coffee varieties and coffee making processes among consumers
• Growing palate for specialty beverages including coffee
• Intelligent innovations by coffee machine industry titans
• Mushrooming of F&B and coffee shop chains
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Fact.MR study finds that drip coffee machines will account for nearly 43% of the total coffee machine sales in 2019. Easy operation, simple design, and quality brewing are the key factors responsible for the significant demand for drip coffee machines. Fact.MR also finds that a good price point of drip coffee machine is another reason that maintains the machine’s popularity.
While drip and steam coffee machines continue to be lucrative, sales of capsule-based coffee machines are expected to increase over 5% in 2019 against the backdrop of increasing preference for specialty coffee varieties among consumers.
Semi-Automatic Technology Remains Highly Preferred, Sales of Automatic Machines Increasing Rapidly
Semi-automatic coffee machines will continue to find favor in the future on the back of advantages of human control, affordable price and many other multimodal factors. The study finds that semi-automatic coffee machine sales will surpass 27,000 thousand units in 2019. On the other hand, sales of automatic coffee machines are rising rapidly as consumer preference for convenience, speed, quality and brand image continues to evolve.
In the automatic coffee machine marketplace, disruptive innovations are being introduced that cover consumer sentiments for taste as well as convenience. Single unit and one touch for a cup of coffee, options of personalization and features of convenience in the form of mobile application-based control are few of the intelligent innovations recently introduced in the market.
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Fact.MR says that cafes will continue to register higher sales of coffee machines for an evident reason of being an indispensable unit in cafes as compared to other F&B stores. According to the valuation, 3 in 10 coffee machines were sold to cafes in 2018 and the status quo will continue in 2019. Restaurant will report the second largest sales of coffee machines.
global coffee machine market share by end use (2018)
Among all the end uses (hotel, restaurant, café, institutional and residential), after café, sales of coffee machine are expected to rise rapidly in the residential segment. Consumer propensity to enjoy specialty coffee flavors and to experience convenience at home can be attributed to rapidly rising sales of coffee machines in the residential sector.
The study estimates that online sales channels are preferred over retail or direct sales channel for the distribution of coffee machines. In 2019, the number of coffee machine units sold through online sales channel will be over 4 units in 10. Retail channel is estimated to follow the trail wherein sales of 3 in 10 units were estimated.
North America and Europe continue to present significant demand for coffee. Fact.MR study finds that North America will continue to register significant demand for coffee machines and account for over two-fifth of global sales in 2019. 64% of Americans consumed a cup of coffee daily in 2018, according to the National Coffee Association survey. Further, demand for caffeinated beverages is rising whereas soda and juice market witnessed a decline.
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Fact.MR shows that Europe registered the second largest demand for coffee machines in 2018 and the trend is likely to continue in 2019 with one fifth volume share in the global market.
The Fact.MR report tracks the coffee machine market for the period 2018-2027. According to the report, the coffee machine market is projected to grow at 4.6% CAGR through 2027.
Read More Trending and Similar Reports from Fact.MR – https://www.globenewswire.com/en/news-release/2019/10/07/1925822/0/en/Customized-Packaging-Solutions-Propelling-the-Aerosol-Cans-Market-Finds-Fact-MR.html
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