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Why Food and Beverages Vending Machine Market Will Witness a Staggering Growth During 2015 to 2021?
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t is primarily used in retail sector, quick service restaurants hotels and others. Growing retail sector coupled with increasing need to expand virtual space in retail outlet is driving the growth of food and beverages vending machine across the globe. However, high initial investment for the installation of vending machine may effects its market growth in the near future.
Food vending machine market is segmented on the basis of product type which includes beverages vending machine and food vending machine. Among both of these segment food vending machine is expected to show a healthy growth during the forecast period. Beverages vending machine is further sub segmented as hot beverage vending machines, cold beverage vending machines and soda/ beer/ liquor/ wine vending machines. Among all of these sub segment cold beverages vending machine is expected to contribute highest in terms of revenue.
However, soda/ beer/ liquor/ wine vending machines is expected to show a substantial growth during the forecast period. Moreover food vending machine is further sub segmented as candy vending machines, snack vending machines, fresh food vending machines, frozen food vending machine, fruits vending machines, milk vending machines and others (egg vending machine). Among all these sub segment snack vending machine is expected to account for the highest market share followed frozen food and candy vending machine in the near future.
Food and beverages vending machine is further segmented on the basis of end use which includes airport, corporate offices, schools/colleges, hotels and quick serving restaurants (QSR) and others. Among all these segments quick serving restaurants is expected to contribute highest in terms of revenue followed by airport. Credit-card acceptance offers convenience and also healthier food option is attributed to this growth. Moreover, revenue through airport is predicted to play an important role in food and beverages vending machine market.
On the basis of geography, North America is expected to contribute to the highest in terms of market share in food and beverages vending machine market followed by Europe. The governments have made labelling of nutritional values on products mandatory. Vending machines are capable of displaying such content clearly is predicted to drive the growth of food and beverages vending machine market across North America region.
Whereas, Asia pacific is concerned it is expected to register a healthy double digit growth by 2020. In Asia pacific region China is expected to be the most dominant market for food and beverages vending machine followed by India. Increased introduction of new hot beverages suitable for vending machine is promoting the growth of food and beverages vending machine in China.
Continuous research and development and introduction of intelligent vending machine is expected to fuel the growth of food and beverages vending machine market in near future. Moreover, automated retailing coupled with ability to minimize operational cost is also predicted to support the growth of food and beverages vending machine market during the forecast period.
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Some of the major players operating in food and beverages vending machine market includes Fuji Electric Co. Ltd., Innovative Vending Solutions LLC, GTECH Corp, Bulk Vending Systems Ltd, UK Vending Ltd, Cantaloupe Systems Inc, American Vending Machine, Inc, Azkoyen SA, Abberfield Technology Pty. Ltd, Bianchi Vending Group SpA and USA Technologies Inc among others.
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