Press release
Food Vending Machine Market touched USD 19.8 billion and projected to reach USD 31.8 billion in 2029, expanding at a CAGR of 6.1% | Size & Industry Analysis
Food Vending Machine Market
For Additional Insights, Click to Access Complete Report - https://www.gmiresearch.com/report/food-vending-machine-market/
The factors driving growth of the Food Vending Machine includes growing demand for organic food products around the world, rise in the number of fitness clubs, increasing deployment of food vending machines at bus stations, airports and bus stations and improvements in the living standards. Moreover, technological advancements in food vending machines, expansion of the retail sector, busy lifestyles, development of intelligent vending machines, changing trends in food demand, increasing consumers preference for healthy food products, rise in the launch of innovative products and rapid urbanization, are some of the additional factors supplementing the market growth. In addition, the increasing investments by leading players on research and development, rising disposable incomes and growing population growth rates, are further contributing towards the market growth.
However, growth of the Food Vending Machine is hindered due to high capital required for deploying food vending machines.
The prominent players operating in the Food Vending Machine are N&W Global Vending S.p.A, HUMAN Healthy Vending LLC, Biocom Vending, Beta Automation, U-Select-It, Inc., Evoca Group, Crane Merchandising Systems Ltd, Braimex, Selecta Group B.V., Seaga Manufacturing Inc. and SandenVendo GmbH, among others.
Based on Type, the Snack Vending Machines segment is predicted to capture the largest market share during the forecast period
Rising demand for snacks such as cookies, nutritional bars, and crackers, is the major factor pushing growth of the segment.
Based on Temperature Control, the Single-temperature segment is projected to grow at a significant CAGR over the forecast period
Single temperature food vending machines eliminates the risks of food poisoning and growing demand for convenience food products, are propelling segment's growth.
Based on Region, the North American region is anticipated to expand at a remarkable CAGR during the forecast period
Growing demand for convenience food products across United States and Canada, increased adoption of advanced technologies by manufacturers, rapid urbanization, rising population growth rates and high per capita incomes, are some of the important factors augmenting the market growth in the North American region.
Key Developments
In 2019, U-Select-It, Inc. launched PUSH-IT to enhance its capacity per selection and is adaptable to a wide range of premium products such as different sizes, types, weight, and form factors. PUSH-IT is a user-friendly delivery system and allows a flexible configuration.
In 2019, Seaga Manufacturing Inc. developed INF4S Snack Vending Machine with innovative features and vended many different packaged foods to offer consumers variety in an optimized space.
Market Segmentation
Segmentation by Type
Snack Vending Machines
Candy Vending Machines
Frozen Food Vending Machines
Others
Segmentation by Temperature Control
Single-temperature
Variable-temperature
Segmentation by Point of Sale
Retail Sites
Offices/ Institutions
Public Transport Hubs
Others
Segmentation by Region
Asia Pacific
China
Japan
India
Rest of APAC
North America
United States of America
Canada
Europe
United Kingdom
Germany
France
Spain
Rest of Europe
RoW
Brazil
South Africa
Saudi Arabia
UAE
About GMI Research
GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.
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