Capsule Coffee Machine Market Scope:
Market Research Future (MRFR) claims that the capsule coffee machine market 2022 can procure a CAGR of 7.86% between 2022 and 2030 (assessment period). The market is also deemed to touch a valuation of USD 8,261.4 million by 2030, reveals MRFR. We will provide COVID-19 impact analysis with the report, along with an in-depth review post the coronavirus disease outbreak.
Primary Boosters and Deterrents:
Over the years, the Capsule Coffee Machine Market has emerged highly lucrative, backed by the growing prevalence of single-serve coffee, especially in Europe and North America. Easy to use and steady brewing results are some of the appealing features that steer consumers from instant coffee towards capsule machines. Capsule coffee machine is an innovative design that has basic operation features, reduced volume, and is more cost effective compared to traditional equipment. The United States has emerged as the strongest market in the world, with coffee choices ranging from decaf to cold coffee highly favored by the vast consumer base in the country.
Growing knowledge among consumers about the varieties of specialty beverages has had a deep impact on their consumption choices, especially in commercial establishments like restaurants and cafes. As a result, the rising need to cater to the pressing consumer demand has broadened the range of blends in the market, thereby bolstering the demand for capsule coffee machines. K-Cup and Nespresso are some of the renowned brands in the United States, in terms of online sales of coffee capsules. Nestle accounts for close to 5% of the total sales via online retail, comprising primarily e-commerce and e-grocery.
The worldwide market can also get a tremendous boost from the expanding application scope of capsule machines in coffee shops, in the wake of rapidly expanding population of time-pressed consumers. Consistent surge in technical advancements in the technology, with rising integration of innovative concepts, applications, and new features along with the provision of reduced maintenance cost and low energy consumption could also be favorable for the global market in following years. Product expansion and new launches are apparently the top favored strategies among renowned players to get ahead in the capsule coffee machine industry rife with competition.
Capsule Coffee Machine Market Segmental Insight:
The main segments reviewed in the MRFR report include type and application.
The primary types of capsule coffee machines in the market are closed source system as well as open-source system. Closed-source machines are the first systems that were introduced in the global market, which is why the segment is expected to touch USD 5,520.3 Million by of 2025-end and be in the lead. However, since open-source systems are more convenient and easier to use compared to the closed-source systems, their growth is projected to be at a faster rate in the ensuing years.
The application-dependent key market categories are commercial and household. The rising trend of quick grab and office breaks has been prompting consumers to opt for coffee, as a result of which the commercial segment is anticipated to dominate the global industry. Another factor bolstering the demand for capsule coffee machines in the commercial segment can be the accelerated number of restaurants and cafes around the world.
Major Key Players:
Some of the Coffee Industry Trends market leaders highlighted in the market study are Ningbo Aaa Group Electric Appliance Co. Ltd. (China), Illycaffè S.p.A. (Italy), Bradshaw Home Inc. (US), Jacobs Douwe Egberts B.V. (Netherlands), Pacific Coffee Co. Ltd (Hong Kong), Dualit Limited (UK), Kraft Heinz Company (US), Starbucks Corporation (US), Nestlé S.A. (Switzerland), Luigi Lavazza S.p.A. (Italy), Keurig Dr Pepper, Inc. (US), to mention a few.
Central and South America, APAC/Asia Pacific along with Europe, MEA/Middle East and Africa and North America are acknowledged as the key markets for Korean Coffee Maker in the MRFR report.
North America has developed into the most profitable market, in terms of volume and value, having gained the biggest share of 34.84% in 2018. The US contributes to the regional market’s growth, being the leading consumer of capsule coffee machines. Recent trends of smart coffee machines with Wi-Fi or Bluetooth connectivity in the country, and the escalating number of cafés have been instrumental in the market growth as well.
The most promising growth will be exhibited by the APAC market, as it is likely to gain the fastest CAGR of 8.55% over the next few years. Surge in coffee consumption in developing countries like India and China paired with the rising per capita disposable income of people are a few key growth inducers in the market. Mounting awareness regarding technologically innovative products has boosted the sales of Concentrated Coffee in recent years, while the prevalence of hectic schedules and the increasing consumption of coffee as a stress booster can benefit the regional market.
The Central & South American market can also observe substantial growth from 2019 to 2025, thanks to the rising preference for convenience products in Brazil. The region has also witnessed a spike in cafes and restaurants in the past few years, which can most likely bolster the market’s growth potential.
About Market Research Future:
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