Increasing Consumption of Coffee in Corporate Sector

According to our latest market study on "Coffee Machines Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Type (Filter Coffee Machines, Espresso Coffee Machines, Capsule & Pod Coffee Machines, and Others); Category (Manual and Automatic & Semi-Automatic); End-User (Residential and Non-Residential)" the coffee machines market size was valued at US$ 15,340.75 million in 2021 and is projected to reach US$ 20,596.79 million by 2028; it is expected to grow at a CAGR of 4.3% from 2021 to 2028. The report highlights key factors driving the coffee machines market growth and prominent players along with their developments in the market.

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Coffee machines are the equipment used to brew coffee. They are either manually operated or automatic and semi-automatic. Coffee machines are convenient to use and eliminates the hassle of making coffee. The rising consumption of coffee, extended work schedules, and busy lifestyle of people are the significant factors driving the demand for coffee machines.

Consumers are increasingly seeking convenience due to their hectic lifestyle. They are looking for products that help them save time and efforts. This of one of the important factors driving the demand for coffee machines and equipment. With rising disposable income of people and improving lifestyle, they are investing in modern appliances that provide them convenience and heightened coffee experiences. All these factors are further expected to boost the coffee machines market over the forecast period.

Keurig Green Mountain, Inc.; Robert Bosch GmbH; Electrolux AB; illycaffè S.p.A.; Koninklijke Philips N.V.; Krups GmBH (Groupe SEB); Morphy Richards; Nestlé SA; Panasonic Corporation; LUIGI LAVAZZA SPA; and De'Longhi Appliances S.r.l. are among the major players operating in the global coffee machines market.

Market players are highly focused on developing high-quality and innovative coffee machines with cutting-edge technologies to fulfill varied requirements of their customers. For instance, in October 2020, Nespresso Professional, launched new touchless features in its Nespresso Momento coffee machines which will provide enhanced safety at workplaces in the wake of COVID-19 pandemic. Similarly, in March 2023, De'Longhi, one of the major coffee machines manufacturers, launched Truerew, a fully automatic, drip coffee machine that delivers perfectly brewed coffee without any measurement and guess work. Such technologically advanced coffee machines are expected to gain huge traction among the consumers, driving the market growth.

Impact of COVID-19 Pandemic on Coffee Machines Market

The consumer goods industry suffered severe disruptions due to disturbances in supply chains and shutdowns of production plants amid the COVID-19 pandemic. The pandemic induced recession across the global economies as the marketplace remained shut due to lockdowns and border restrictions. This pandemic-induced recession negatively impacted the purchasing decisions of consumers.

Consumers focused on purchasing only essential goods to fulfill their day to day requirements. This hampered the sales of luxury goods including coffee machines. Also, as majority of the offices mandated work from home for safety of their employees, the offices remained shut which resulted in decline in demand for coffee machines from the corporate sector. However, in 2021, the governments of various countries announced relaxation in lockdown restrictions and also permitted the manufacturers to operate with full capacity. Supermarkets and shopping malls were also permitted to open which positively impacted the sales of various consumer goods including coffee machines. Thus, during late 2021, the coffee machines market witnessed recovery, which aided the market growth.

The report includes the segmentation of the coffee machines market as follows:

Based on type, the coffee machines market is segmented into filter coffee machines, espresso coffee machines, capsule & pod coffee machines, and others. On the basis of category, the market is bifurcated into manual and automatic & semi-automatic. Based on end-user, the coffee machines market is segmented into residential and non-residential. By geography, the market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. The coffee machines market in North America is further segmented into the US, Canada, and Mexico. The European market is subsegmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. The coffee machines market in Asia Pacific is further segmented into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. The market in the MEA is further segmented into South Africa, Saudi Arabia, the UAE, and the Rest of MEA. The coffee machines market in South & Central America market is categorized into Brazil, Argentina, and the Rest of South & Central America.

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This release was published on openPR.