Coffee Machine Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Coffee Machine Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The coffee machine market was valued at USD 5.11 billion in 2020, and it is expected to reach USD 6.36 billion, registering a CAGR of more than 4.5% during the forecast period, 2021-2026.

COVID-19 has negatively impacted the market due to restrictions on manufacturing activities and the supply chain. The lockdown in China has forced coffee machine manufacturers based in the United States and Europe to halt the production as they export several input supplies temporarily. The expansion of commercial infrastructure and mushrooming offices may guarantee growth despite the temporary lull experienced amid the pandemic.

The coffee industry has been evolving in terms of innovations, new launches, and demand. The coffee machine market includes the sales of coffee machines and related services used in hotels, restaurants, cafes, and offices.

Coffee machines are small electrical machines used for coffee making. The growing popularity of instant non-alcoholic beverages such as coffee in restaurants and office cafeterias propels the growth of the coffee machine market. Coffee machines reduce the time and effort required to prepare coffee in coffeehouses and office cafeterias. The increasing need for non-alcoholic beverage drinks among millennials, consumer awareness about low-sugar and non-alcoholic drinks, busy work schedules, and changing consumer taste are a few of the reasons for the rise in the popularity of instant non-alcoholic beverages such as coffee.

Due to the increasing demand for coffee, coffee provider companies are investing in appropriate equipment and innovating methods such as coffee capsules to offer better-tasting coffee as more profitable options. The rising use of coffee machines in restaurants and office cafeterias to fulfill the increased demand for instant non-alcoholic beverages increases the demand for coffee capsules and, thus, boosts the growth of the coffee machine market. Various factors are driving the coffee machine market. Ease of use and consistent brewing results are the major factors responsible for the growing demand for coffee machines globally.

The continuously increasing coffee consumption levels in various regions of the world, rising disposable income levels, growing youth population, and the working class are propelling the demand for coffee machines. The demand for coffee machines is increasing rapidly, owing to the expansion of the coffee culture or the expansion of coffee shops and capsule systems. Various types of coffee machines are available in the market, thus, boosting the coffee machine market. Technological advancements are also driving the market.

The demand for automatic coffee machines is increasing significantly, thereby boosting the growth of the market. Smart coffee machines with Bluetooth or Wi-Fi connectivity are the recent trend in the global market. These smart coffee machines can be accessed through smartphones, and users can control them from anywhere inside the house and provide commands from a smartphone. The increasing awareness about the adverse effects of excessive caffeine consumption is expected to limit the growth of the market. Moreover, high maintenance costs may hamper the coffee machine market.

Key Market TrendsSurge in the Coffee-drinking Population may Benefit the Global Market

The growth in the coffee-drinking population worldwide and the mounting popularity of specialty coffee have led to significant market expansion in recent years. The commercial sector's strong growth, especially in developing countries, has also been favorable for the coffee machine industry. The emergence of the foodservice industry as a key end user and the surging number of offices with kitchenettes may also foster the sales of advanced coffee machines in the coming years. Players are focusing on integrating various technological features into coffee machines, which may further drive the market's growth. The escalating need for coffee machines with pre-grinding and pre-infusion features among consumers is likely to give rise to new growth avenues during the forecast period.

The Asia-Pacific Market is Expected to Grow at an Accelerated Pace

Asia-Pacific is expected to be the fastest-growing market, with a significant growth rate over the forecast period. The growth may be led by rapid urbanization and the expanding middle-income population base. The Asia-Pacific region is anticipated to dominate the global market over the forecast period due to the increasing population, technological advancements, rising disposable income levels, and the growing number of workplaces. Moreover, the growing population of young consumers and the burgeoning working class are propelling the demand for coffee machines in countries like China, India, and Japan. The demand for coffee machines is increasing rapidly due to the expansion of the coffee culture or the expansion of coffee shops and capsule systems in the Asia-Pacific region. The mounting number of cafés, restaurants, hotels, homes, and companies and the rising spending capacity of consumers in the region also add to the market value.

Competitive Landscape

The report covers the major international players operating in the coffee machine market. In terms of market share, few of the major players currently dominate the market. However, with technological advancements and product innovations, mid-size to smaller companies are increasing their market presence by securing new contracts and tapping into new markets.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned
 
Keurig Green Mountain Inc. (United States)
Panasonic Corporation (Japan)
Nestlé SA (Switzerland)
Newell Brands (United States)
De'Longhi Group (Italy)
Electrolux AB (Sweden)
Melitta (Germany)
Morphy Richards (United Kingdom)
Koninklijke Philips NV (Netherlands)
Hamilton Beach Brands Inc. (United States)
Robert Bosch GmbH (Germany)

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