Press release
Retail Vending Machine Market Poised to Hit $77.73 Billion by 2029 with Accelerating Growth Trends
Retail Vending Machine Market
Retail Vending Machine Market Size Growth Forecast: What to Expect by 2025?
The size of the retail vending machine market has seen a significant surge in recent years. The market value is forecasted to increase from $48.35 billion in 2024 to $52.6 billion in 2025, with a compound annual growth rate (CAGR) of 8.8%. The historical growth has been driven by factors such as the convenience culture, round-the-clock accessibility, diverse product offerings, urban development and areas with high foot traffic, cost-efficient retail services, and increasing on-the-go consumption.
How Will the Retail Vending Machine Market Size Evolve and Grow by 2029?
Over the coming years, the retail vending machine market is projected to experience swift expansion, hitting a value of $77.74 billion in 2029 with a compound annual growth rate (CAGR) of 10.3%. The surge during this forecast period can be traced back to various factors such as enhancements in retail automation and productivity, customer craving for convenience, urban development and densely-populated areas, retail on-demand, as well as health and cleanliness considerations. The upcoming period is likely to see emerging trends like the adoption of touch-free payments, emphasis on hygiene and safety features, increased focus on customization and personalization features, intelligent and interactive user interfaces, and a push towards sustainable and eco-friendly solutions.
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What Drivers Are Propelling the Growth of Retail Vending Machine Market Forward?
Anticipation for read-to-eat and easily accessible food options is predicted to drive growth in the retail vending machine market. The term ready-to-eat applies to food products that are already cleaned, pre-cooked, and packaged for immediate consumption without additional preparation or cooking. The advantage of vending machines is they can be strategically placed for convenient access to ready-to-eat meals at any time, meeting the requirements of city dwellers such as students, daily commuters, workforce, tourists and the like. For example, based on a report issued by the National Association of Convenience Stores (NACS), an American trade union, in April 2024, the total sales from the foodservice industry, which encompasses prepared food, commissary items, and dispensed beverages, made up 26.9% of in-store sales in 2023, a rise from 25.6% the year before. Furthermore, the monthly sales of prepared food per store witnessed a rise of 12.2%. As a result, the increasing consumer demand for ready-to-eat foods is fueling the expansion of the retail vending machine market.
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Which Emerging Trends Are Transforming the Retail Vending Machine Market in 2025?
A current trend in the retail vending market is product innovation, with significant market players focusing on creating novel products. In an illustration of this, Ulta Beauty, a beauty salon company based in the USA, announced in October 2023 its plan to unveil smart vending machines in its storefronts. This new project, a collaboration with SOS, enables Ultimate Rewards members to collect a gratis travel-sized beauty item weekly from brands such as Hero Cosmetics and Luxury Brand Partners. Additionally, the vending machines will provide period care products from Rael at no cost. The primary objective of this move is to encourage loyalty program enrolments while providing consumers a more exciting and convenient way to try out different products.
What Are the Key Segments in the Retail Vending Machine Market?
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
Subsegments:
1) By Food: Snacks, Fresh Food, Healthy Options
2) By Beverage: Soft Drinks, Coffee And Tea, Water, Energy Drinks
3) By Games Or Amusement: Arcade Machines, Skill-Based Games
4) By Tobacco: Cigarettes, Other Tobacco Products
5) By Candy And Confectionery: Chocolate, gummie*s** And Sweets, Gum
6) By Beauty And Personal Care: Skincare Products, Cosmetics, Haircare Items
7) By Ticket: Event Tickets, Transportation Tickets
8) By Other Types: Electronics, Health And Wellness Products, Miscellaneous Items
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Who Are the Key Players Shaping the Retail Vending Machine Market's Competitive Landscape?
Major companies operating in the retail vending machine market include 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, Federal Machine Corporation, Future Techniks India Private Ltd, 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.
What Geographic Markets Are Powering Growth in the Retail Vending Machine Market?
North America was the largest region in the retail vending machine market in 2024. Asia-Pacific is expected to be the fastest-growing region in the retail vending machine market during the forecast period. The regions covered in the retail vending machine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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