Vending Machine Market By Type (Food Vending Machine, Beverages Vending Machine, Tobacco Vending Machine, Others Vending Machine), By Application (Hotels and Restaurants, Corporate Offices, Public Places, Others), By Technology (Automatic Machine, Semi-Au

Vending Machine Market By Type (Food Vending Machine, Beverages Vending Machine, Tobacco Vending Machine, Others Vending Machine), By Application (Hotels and Restaurants, Corporate Offices, Public Places, Others), By Technology (Automatic Machine, Semi-Automatic Machine, Smart Machine), By Sales Channel (Online, Offline): Global Opportunity Analysis and Industry Forecast, 2023-2032

The global vending machine market was valued at $18.3 billion in 2022, and is projected to reach $37.2 billion by 2032, growing at a CAGR of 7.5% from 2023 to 2032.

Increase in demand for food vending machines in offices/institutions, rise in consumption of convenience food items, and the adoption of smart customer service technologies in several food categories are the driving factors for the growth of the market. The demand for machines has increased during the past few years and with the introduction of cashless payment systems, smart technology solutions are gaining momentum on a large scale across the globe. Moreover, increasing urbanization and rising disposable income have fuelled the growth of the vending machine market. Governments of various regions restricted the use of food & beverages vending machines in many places, such as schools and colleges, thereby limiting the demand for these machines.

Vending machines are portable and deliver goods quickly; hence, they are considered an extremely convenient option for consumers to purchase on-the-go food & beverages products. The demand for quick availability of food has risen in the recent past due to consumer’s busy lifestyle, increase in urbanization, and similar other consumer behavior.

Attributed to this fact, the demand for vending machines, especially in offices, commercial spaces, and public areas has gained high momentum. Vending machines are also useful for non-food items such as toiletries, stamps, newspapers, tickets, and other small articles. Furthermore, as vending machines offer more digital payment/cashless options as compared to the traditional cash payments, the demand has gained further traction.

Manufacturers are developing and launching Internet of things (IoT)-based vending machines. This has enabled real-time data collection and an end-to-end IoT service to better monitor the machines. As a result, it has become more convenient to gather consumer experience & expectations and provide an enhanced consumer shopping experience. Constant innovation and technological developments have led the industry to offer more modern, on-the-go solutions that are parallel with shifts in consumer behavior. Furthermore, innovations, such as voice recognition, interactive display system, and big data integration, have made it more convenient and user-friendly for consumers, which created a positive impact on the demand for vending machines.

The sale of tobacco products via vending machine is prohibited in various countries such as India, Thailand, and others. Strict regulations regarding the sales of unhealthy, junk food and tobacco products in public places, institutions, and the majority of commercial spaces are expected to restrain the growth of the vending machine market. Smoking is completely banned in many public places and workplaces, such as educational, healthcare, and government facilities, and on public transport in various countries.

However, the law permits the establishment of smoking areas or spaces in airports, hotels having 30 or more rooms, and restaurants having seating capacity for 30 or more. It is smoke free in outdoor places such as stadiums, railway stations, open auditoriums, and bus stops/stands. Such factors hinder the market growth.

Modern consumers expect a convenient and personalized shopping experience; hence, it has become necessary for retailers to provide more innovative solutions that take shopping beyond the traditional retail location. Wireless solutions make it easy for retailers to conduct business anywhere. Therefore, they are motivated to opt for Internet of Things (IoT) to help them improve customer satisfaction while increasing revenues and reducing overall costs. IoT is helping vending machine operators more effectively to respond to consumer demand and boost operational efficiency. It has also enabled to make vending machine management simple and effective.

For instance, IoT-based vending machines use real-time data to respond to customer demand and adjust pricing for maximum profitability, improve security of machines to reduce tampering and product loss, and also track temperatures & monitor other conditions to ensure that perishable food items are safe to consume. These functional benefits offered by vending machines enable to create growth opportunities in the retail industry.

The vending machine market is segmented on the basis of type, application, technology, sales channel, and region. By type, it is categorized into food vending machine, beverages vending machine, tobacco vending machine, and others. By application, it is segmented into hotels & restaurants, corporate offices, public places, and others. By technology, it is divided into automatic machine, semi-automatic machine, and smart machine. By sales channel, it is bifurcated into online and offline. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Spain, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, and Rest of Asia-Pacific), and LAMEA (Brazil, the UAE, Saudi Arabia, Turkey, and Rest of LAMEA).

The report profiles 10 key companies. Moreover, the company profiles include various data-points such as company overview, company executives, recent financials of the company, major growth strategies espoused by company, new initiatives and advancements by company to sustain and mend their position in the Vending Machine Market, and others. The key players profiled in this report include Sandenvendo America, Inc., Crane Merchandising Systems, Azkoyen Group, Fuji Electric Co., Ltd, Fastcorp Vending LLC, Royal Vendors, Inc., Seaga Manufacturing Inc, Jofemar Corporation., Selecta TMP AG, and Bianchi Industry.

Key Benefits For Stakeholders

This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the vending machine market analysis from 2022 to 2032 to identify the prevailing vending machine market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the vending machine market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global vending machine market trends, key players, market segments, application areas, and market growth strategies.

Key Market Segments

By Sales Channel

Offline
Online

By Type

Beverages Vending Machine
Tobacco Vending Machine
Others Vending Machine
Food Vending Machine

By Technology

Semi-Automatic Machine
Smart Machine
Automatic Machine

By Application

Hotels and Restaurants
Corporate Offices
Public Places
Others

By Region

North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Russia
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Singapore
Malaysia
Rest of Asia-Pacific
LAMEA
Brazil
Argentina
UAE
South Africa
Saudi Arabia
Turkey
Rest of LAMEA
Key Market Players
Azkoyen S.A.
Bianchi Industry Spa
Crane Company
Fastcorp Vending LLC
Fuji Electric Co., Ltd
Jofemar S.A.
Royal Vendors, Inc.
SandenVendo America, Inc.
Seaga Manufacturing Inc.
Selecta Group B.V.

Please Note: It will take 7-10 business days to complete the report upon order confirmation.