The global coffee machines market size is anticipated to undergo a period of dynamic expansion owing to the widespread consumption of coffee around the world, postulates Fortune Business Insights™ in its report, titled “Coffee Machines Market, 2023-2030”.
Cherished for its caffeine content and aroma, coffee has been one of the most widely consumed non-alcoholic beverages for centuries. The sky-high popularity of this beverage can be testified by the fact that the coffee crop is grown in over 70 tropical countries worldwide, according to the US-based think-tank, World Population Review. Furthermore, World Population Review also states that coffee is the second most exported commodity after oil in the world, with Scandinavian countries, led by Finland, being the largest consumers of this drink. Coffee machines have gained equal popularity as they are designed to brew instant, fresh, and high-quality coffee for drinkers. Thus, as coffee consumption continues to grow, the demand for coffee makers is likely to keep increasing in the foreseeable future.
List of Key Players Covered in the Coffee Machines Market Report:
- Behmor Inc.
- Koninklijke Philips N.V.
- Rancilio Group S.p.A.
- Electrolux AB
- Gruppo Cimbali
- Thermoplan AG
- Nestle S.A.
- Mei Ah Electric Manufactory Ltd.
- LA Spaziale S.p.A.
- Schaerer AG
- Franke Kaffeemaschinen AG
- Breville Group Ltd.
Highlights of the Report
This report contains unmatched insights into the factors driving and constraining the market growth, along with a detailed & piecemeal study of all market segments. Additionally, the report offers a thorough and holistic examination of the regional dynamics impacting the market and incorporates careful profiling and analysis of the key market players and their strategies.
Driving Factor
Resilient Demand for Coffee amid COVID-19 to Foster Market Growth
While the COVID-19 pandemic outbreak has shaken multiple businesses in the consumer goods industry, the coffee machine market growth has been unharmed by the coronavirus. The demand for coffee has remained relatively undeterred, even as the pandemic intensified in the first half of 2020. In Italy, for instance, coffee grocery sales rose by 23% in the first full week of lockdown, according to a study conducted by Molise University, Campobasso, and Fondazione Censis, Rome. Further, the International Coffee Organization has also stated that the impact of the coronavirus on coffee production has been minimal, with even small coffee-producing countries such as Ethiopia remaining largely unaffected.
Acknowledging the importance of this beverage for consumers, many companies are now preparing to secure an advantageous position in the coffee industry in the post-pandemic period. This is mainly being mainly witnessed with the development of contactless coffee machines. For example, in March 2021, Nestle announced the rollout of new contactless Nespresso machines for offices, as workers slowly return to physical workspaces. The insulated position of coffee makers amid the current pandemic has thus enormously benefited this market.
Market Segmentation
On the basis of type, the market has been grouped into espresso coffee machines, drip filter coffee machines, liquid coffee concentrate dispensers, coffee capsule machines, and others. Based on technology, the global market has been divided into manual, semi-automatic, and automatic. By distribution channel, the market segments include specialty stores, hypermarkets & supermarkets, online stores, and others. In terms of end-user, this market has been categorized into residential, offices, hotels & restaurants, and others. By region, the market has been studied across North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Regional Insights
Growing Import of Green Coffee Beans to Stoke Market Development in Europe
Among regions, Europe is expected to lead the coffee machines market share during the forecast period due to the increasing demand for green coffee beans in the continent. In countries such as the UK and Germany, where veganism is gaining rapid traction, the adoption of clean-label beverage products is spiking. In addition, European countries are some of the largest consumers of coffee bags, making this region an investment hub for coffee makers.
Asia Pacific, on the other hand, is presenting market players with lucrative opportunities owing to the increasing consumption of coffee in the region’s speedily expanding urban areas. Moreover, the growing presence of large retail chains across India and China, such as Dashang Group and Big Bazaar, is making coffee machines easily accessible to the general populace.
Competitive Landscape
Introduction of Automatic Coffee Makers by Key Players to Animate the Market
Leading electronic companies are intensely focused on developing and introducing automated home appliances to bring convenience to busy urban households. These automatic solutions are empowering key players in this market to solidify their position and attract a wider audience for their offerings.
Industry Development:
- September 2020: Philips released a new version of the Philips 5400, its fully automatic espresso machine. Equipped with ceramic bean grinders and designed with a new user interface, the 5400 assures café quality coffee at home, offering 12 coffee drinks at the touch of a button.
Browse Detailed Summary of Research Report:
https://www.fortunebusinessinsights.com/coffee-machines-market-103855