Press release
Retail Vending Machine Market 2024-2033: Competitor Assessment, New Trends, Share Analysis And Global Key Players
Retail Vending Machine Market
The retail vending machine market size is expected to see strong growth in the next few years. It will grow to $70.39 billion in 2028 at a compound annual growth rate (CAGR) of 9.6%. The growth in the forecast period can be attributed to retail automation and efficiency, consumer preferences for convenience, urbanization and high-traffic areas, on-demand retail, health and hygiene considerations.. Major trends in the forecast period include contactless payment adoption, hygiene and safety features, customization and personalization, smart and interactive interfaces, sustainable and eco-friendly solutions..
Market Overview -
Retail vending machine refers to out-of-store retailing machines that require a standard power supply connection to function. It uses the distribution of products to consumers through coin-operated systems that improve the customer purchase experience.
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Retail Vending Machines Ride The Wave Of Rising Demand For Ready-To-Eat Delights
The rising demand for ready-to-eat and convenience foods is expected to propel the retail vending machine market. Ready-to-eat food refers to a class of food items that have been cleaned, pre-cooked, and packaged that are ready to consume without prior preparation and cooking. Vending machines are usually installed at convenient locations to serve ready-to-eat (RTE) meals round-the-clock to address the needs of urban consumers such as students, commuters, working professionals, tourists, and others. For instance, according to a March 2022 report published by the Government of Canada on packaged food trends in China, retail sales of packaged food products in China increased from 283,984.8 (US$ million) in 2020 to 298,005.3 (US$ million) in 2021. Therefore, rising demand for ready-to-eat foods is driving the retail vending machine market.
Competitive Landscape -
Major companies operating in the retail vending machine market report are Azkoyen Group, Westomatic Vending Services Ltd, Royal Vendors Inc, Seaga Manufacturing Inc, Sanden Group, Glory Ltd, Crane Merchandising Systems, Fuji Electric Global, Bianchi Industry, Coke Solutions, Sellmat Srl, Fastcorp vending machines LLC, Jofemar Corporation, Selecta AG, Continental Vending Inc, Worldline S A, Federal Machine Corporation, Future Techniks India Private Ltd, Intel Corporation, Sielaff GmbH & Co KG, Cantaloupe Systems, Orasesta S.p.A, Apex Supply Chain Technologies, Ford Gum & Machine Co. Inc., Vending Design Works, Automated Merchandising Systems Inc., Bulk Vending Systems, Canteen Vending Services, Coin Acceptors Inc., Dixie-Narco Inc., FAS International S.R.L. .
Cherise India's Innovative Approach With Android And IOT Integration
Product innovation is a key trend in the retail vending machine market. Major companies operating in the market are advancing toward developing innovative products. For instance, in July 2021, Cherise India Private Limited, an India-based company operating in vending machine, launched IoT and Android-based tea vending kiosk. Cherise's user-friendly smart vending kiosks have their own exclusive IoT dashboard and app for managing operations. In contrast to other vending operators, Cherise gives its customers access to an IoT vending platform that offers real-time data on consumer consumption trends, inventory, and payment at the touch of a button.
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Key Segments -
The retail vending machine market covered in this report is segmented -
1) By Type: Food, Beverage, Games or Amusement, Tobacco, Candy and Confectionery, Beauty and Personal Care, Ticket, Other Types
2) By Payment Mode: Cash Retail Vending Machine, Cashless Retail Vending Machine
3) By Application: Retail Vending Machine for Commercial Places, Retail Vending Machine for Offices, Retail Vending Machine for Public Places, Retail Vending Machine for Other Applications
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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