Coffee Machines Market Insights: Companies with Revenue and Forecast 2030
Coffee Machines Market Overview
Coffee machines are coffee dispensing machines which are automated or semi-automated in function and cater to customers or end-users in the hospitality sector. These machines help in brewing coffee in a short amount of time without losing the aroma, flavor, or quality. Coffee brew manufacturers have launched a range of models annually in line with the growing trends and changing customer preferences. The global coffee machines market report compiled by analysts at Market Research Future (MRFR) contain the latest trends and drivers engulfing the market in respect to the current economic scenario.
The global coffee machines market size is slated to reach USD 13.12 billion by 2030 at 6.57% CAGR during the period of 2022 to 2030 (forecast timespan). Rising consumption of coffee globally is one of the pertinent factors of the expanding market. According to BrandonGaille, close to 56% of adults in the U.S. consume 66 billion cups annually. Immense demand for special varieties of coffee can spur innovation among coffee machine makers and drive the market revenue over the forecast timespan.
The expansion of the food service sector can have a positive influence on the market revenue till the end of the forecast period. Introduction of new brews of coffee such as organic and green coffee can bode well for the global coffee machines market. Investments in research and development for expanding the functionality of coffee makers is predicted to impact the global market growth.
However, rise in number of small private label brands offering coffee makers at slashed prices than their competitors can pose a challenge to the market.
Competition Outlook
De'Longhi Group, Robert Bosch GmbH, Luigi Lavazza S.p.A., Morphy Richards, Newell Brands, Hamilton Beach Brands, Inc., Schaerer Ltd, Illycaffè S.P.A., JURA Elektroapparate AG, La Cimbali, Zojirushi America Corporation, Electrolux AB, Simonelli Group S.P.A., Koninklijke Philips N.V., Panasonic Corporation, Krups, Melitta, Keurig Green Mountain, Inc., Nestlé S.A., and others are prominent names in the global coffee machines market.
Segmentation
The global coffee machines market outlook is segmented on the basis of type, category, and end-user. By type, it is segmented into capsule or pod coffee machines, traditional espresso machines, bean-to-cup coffee machines, and filter coffee machines. Filter coffee machines are predicted to reach a value of $3.966 billion by 2030. These machines are available in different sizes and shapes, with the capability of serving several cups in one go. By category, it is segmented into semi-automated and fully-automated By end-user, it is segmented into commercial and household.
Regional Analysis
South America, the Middle East and Africa (MEA), North America, Asia Pacific (APAC), and Europe are the main regions taken into consideration with respect to the market.
North America is expected to capture a larger market share during the forecast period due to the large numbers of coffee consumers. It had accounted for 34.93% share in 2018. The U.S. and Canada are the biggest contributors to the regional coffee machines market revenue. This can be attributed to the large number of players as well as the development of machines with sophisticated features. Rebranding of public perception by coffee machine makers is a strategy designed to entice consumers across demographics.
The APAC region can accumulate revenue at a 5.82% CAGR during the forecast period. Factors facilitating regional growth include rapid urbanization and the staggering rise in income levels of consumers in mid-income economies. The immense demand for coffee machines in tier-1 and tier-2 regions can bolster market demand in the coming years. Furthermore, the emergence of coffee shops and cafés can increase the global coffee machines market insights until 2030.
Industry News
Recently, Keurig Dr Pepper launched a slew of coffee makers with a dual purpose of brewing single-serve and drip coffee. This can be used in enticing customers wanting to brew beverages for late nights or for pursuing their morning routine.
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