Press release
Global Coffee Machines Market Size to Grow at a CAGR of 4.1% in the Forecast Period of 2022-2027
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The key highlights of the report include:
Market Overview (2017-2027)
• Forecast CAGR (2022-2027): 4.1%
The rise in the number of people who drink coffee around the world and the rising popularity of specialty coffee have resulted in a significant expansion in the global coffee machines market in recent years. Strong commercial sector growth, particularly in developing nations, has also benefited the coffee machine sector. In the upcoming years, sales of advanced coffee machines may also be aided by the emergence of the foodservice sector as a significant end user and the rising number of offices with kitchenettes.
One of the fastest growing regions in the global coffee machines market is predicted to be the Asia-Pacific region. The market is driven by increasing urbanisation and the growing middle-class population. Due to rising levels of disposable income, technological advancements, population growth, and the expansion of workplaces, the Asia-Pacific region is predicted to dominate the global market during the forecast period.
Additionally, the demand for coffee makers is being driven by the expanding working class and the population of young consumers in nations like China, India, and Japan. Due to the rapid growth of coffee culture, coffee shops, and capsule systems, there is a rising demand for coffee machines. The coffee machines market is also boosted by the region's increasing number of cafes, restaurants, hotels, residences, and businesses as well as the growing purchasing power of the customers.
Coffee Machines Industry Definition and Major Segments
Small electrical devices used to make coffee easily are called coffee machines or coffee makers. Coffee machines are used to brew coffee which saves time as compared to the traditional method and enhances the taste of coffee. It has various applications for residential as well as commercial consumption. Coffee machines are easy to use, clean, and durable.
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Based on product type the market is segmented into:
• Filter Coffee Machines
• Traditional Espresso Machines
• Capsule or Pod Coffee Machines
• Bean-to-cup Coffee Machines
Based on operation category, the market is divided into:
• Semi-automated
• Fully-automated
Based on end use the market is divided into:
• Residential
• Commercial
The major regional markets include:
• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa
Coffee Machines Market Trends
The expansion of the coffee machines market at a global level wis expected to be aided by players' focus on incorporating various technological features into coffee makers, marking a significant trend in the market. Consumer demand for coffee makers with pre-grinding and pre-infusion features is expected to increase during the forecast period, supporting new growth opportunities.
Another key trend for the coffee machines market is the growing demand for automatic coffee machines. Smart coffee machines with Bluetooth or Wi-Fi connectivity are a recent global market trend. These smart coffee machines are compatible with smartphones and can be accessed from anywhere in the vicinity with the use of a connected smartphone.
While coffee consumption is a strong preference in North America, its popularity is on the rise worldwide, even in countries in the Asia Pacific such as India where the traditional hot beverage preference has been tea.
However, the increasing awareness of the negative effects of excessive coffee and caffeine consumption is expected to limit market growth. Furthermore, high maintenance costs for coffee machines may hinder the market.
Key Market Players
The major players in the coffee machines market report are:
• Keurig Green Mountain Inc.
• Panasonic Corporation
• Newell Brands, Inc.
• Nestlé Nespresso SA
• Hamilton Beach Brands Inc.
• Robert Bosch GmbH
• Others
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter's Five Forces Models.
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