Press release
Soaring Demand Set to Propel Retail Vending Machine Market to $75.71 Billion by 2029
Retail Vending Machine
What Is the Expected CAGR for the Retail Vending Machine Market Through 2025?
The size of the retail vending machine market has experienced notable expansion in the past few years. A growth from $48.35 billion in 2024 to $51.97 billion in 2025 is projected, indicating a compound annual growth rate (CAGR) of 7.5%. This substantial growth during the historic period is a result of the favorability of convenience, buying availability all day and night, a broadened range of product offerings, the shift towards urbanization and high foot traffic locations, affordable retail options, and the trend of on-the-go consumption.
What's the Projected Size of the Global Retail Vending Machine Market by 2029?
The market size of retail vending machines is predicted to witness considerable expansion in the upcoming years, eventually reaching a value of $75.71 billion in 2029, with a compound annual growth rate (CAGR) of 9.9%. Multiple factors, such as advancements in retail automation and efficiency, consumers' inclination towards convenience, urbanization and crowded areas, instant retailing, and considerations of health and hygiene, contribute to this growth in the forecast period. The period will also observe major trends like the rising adoption of contactless payment methods, features ensuring hygiene and safety, customizations, and personalization, the use of smart and interactive interfaces, and the incorporation of sustainable and environment-friendly solutions.
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Top Growth Drivers in the Retail Vending Machine Industry: What's Accelerating the Market?
The increasing appetite for convenience and ready-to-eat foods is projected to drive growth in the retail vending machine market. Ready-to-eat food consists of items that are already cleaned, cooked, and packaged for immediate consumption without any further preparation or cooking. Vending machines, often located in easily accessible places, cater to the demands of city dwellers including students, daily commuters, professionals, tourists, amongst others with ready-to-eat meals available at all times. In line with this, a report released by the National Association of Convenience Stores (NACS), a trade association based in the US, in April 2024 revealed that total industry foodservice sales, encompassing prepared food, commissary items, and beverage dispensers, comprised of 26.9% of in-store sales in 2023 which was a growth from 25.6% in 2022. The report further noted an increase of 12.2% in prepared food sales per store per month. Hence, the surging demand for ready-to-eat foods is fueling the expansion of the retail vending machine market.
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What Trends Will Shape the Retail Vending Machine Market Through 2029 and Beyond?
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 October 2023, Ulta Beauty USA-based Beauty salon company is launching smart vending machines in its stores as part of a new pilot program. These machines, developed in partnership with SOS, will allow Ultimate Rewards members to receive a free travel-size beauty product each week from brands like Hero Cosmetics and Luxury Brand Partners. The vending machines will also offer complimentary period care products from Rael. The initiative aims to increase loyalty sign-ups while offering customers a fun, convenient way to sample products.
What Are the Main Segments in the Retail Vending Machine Market?
The retail vending machinemarket 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, 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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Which Top Companies are Driving Growth in the Retail Vending Machine Market?
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.
Which Regions Will Dominate the Retail Vending Machine Market Through 2029?
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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