Pune, India, July 10, 2023 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on “Coffee Machines Market Size Report, Share, Revenue, Growth Strategy, Industry Trends and Forecast to 2028 - COVID-19 Impact and Global Analysis By Type, Category and End User”, the global coffee machines market size is expected to grow from $15.34 billion in 2021 and is projected to reach $20.59 billion by 2028; it is expected to grow at a CAGR of 4.3% from 2021 to 2028.
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Global Coffee Machines Market Report Scope, Segmentations, Regional & Country Scope:
| Report Coverage | Details |
| Market Size Value in | USD 15.34 Billion in 2021 |
| Market Size Value by | USD 20.59 Billion by 2028 |
| Growth rate | CAGR of 4.3% from 2021 to 2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
| No. of Pages | 197 |
| No. of Tables | 167 |
| No. of Charts & Figures | 81 |
| Historical data available | Yes |
| Segments covered | Type, Category, and End-User |
Browse key market insights spread across 197 pages with 167 list of tables & 81 list of figures from the report, "Coffee Machines Market Size and Forecasts (2021 - 2028), Global and Regional Growth Opportunity Analysis" in detail along with the table of contents: https://www.theinsightpartners.com/reports/coffee-machine-market
Europe held the largest share of the coffee machines market in 2021. Increasing consumption of coffee in the region is the main factor driving the market growth. Moreover, presence of well-established corporate sector with large commercial complexes and offices is driving the product sales. Consumers in the region are well-aware of different types of coffee, coffee roasts, and flavors. This factor is further aiding the coffee machines market across Europe. The growing preference for technologically advanced kitchen equipment in a variety of settings, including cafés, restaurants, hotels, and workplaces is driving the coffee machines market growth. Rising demand for coffee among fitness enthusiasts and sportsperson due to its high caffeine content and mood-boosting ability is driving the demand for espresso coffee machines in the region. Further, rising demand for technologically-advanced appliances that provide high-end coffee experiences to the consumers is also driving the demand for coffee machines across various European countries.
Global Coffee Machines Market: Competitive Landscape
Keurig Green Mountain, Inc.; Robert Bosch GmbH; Electrolux AB; illycaffè S.p.A.; Koninklijke Philips N.V.; Krups GmBH (Groupe SEB); Morphy Richards; Nestlé SA; Panasonic Corporation; LUIGI LAVAZZA SPA; and De’Longhi Appliances S.r.l. are among the major players operating in the global coffee machines market. Companies in this market focus on strategies such as investments in research and development activities and new product launches. For instance, in March 2023, De’Longhi, one of the prominent manufacturers of coffee machines launched Truerew, a fully automatic, drip coffee machine that eliminates measuring of coffee and any guess work, which allows consumers to enjoy a freshly ground, superior coffee experience.
Growing Popularity of Caffeine Boosts the Global Coffee Machines Market Growth:
People are increasing their caffeine intake due to its mood-boosting ability. Caffeine stimulates the nervous system and functioning of brain. Therefore, a person after consuming coffee feel energized. Caffeine helps in eliminating lethargy and laziness. Therefore, people at workplaces prefer drinking coffee to boost their energy levels, feel fresh and energetic while working. Caffeine also make one feel refreshed and focused. Therefore, even after extended working hours, people stay focused on their work. Therefore, many corporates are installing coffee machines in their offices. These factors are significantly driving the demand for coffee machines, propelling the market growth.
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Impact of COVID-19 Pandemic on Global Coffee Machines Market:
The COVID-19 pandemic affected almost all industries in various countries. Lockdowns, travel restrictions, and business shutdowns in North America, Europe, Asia Pacific (APAC), South & Central America (SAM), and the Middle East & Africa (MEA) hampered the growth of several industries, including the consumer goods industry. The pandemic induced recession across the global economies as the marketplace remained shut due to lockdowns and border restrictions. This pandemic-induced recession negatively impacted the purchasing decisions of consumers. Consumers focused on purchasing only essential goods to fulfill their day-to-day requirements. This hampered the sales of luxury goods including coffee machines. Non-essential purchases were significantly reduced by consumers due to lower incomes and uncertain earning prospects, especially in developing regions. Many manufacturers of coffee machines faced decline in profits due to reduced consumer demand during the initial phase of pandemic. However, in 2021, the governments of various countries announced relaxation in lockdown restrictions and also permitted the manufacturers to operate with full capacity. This held the manufacturers to procure the raw materials smoothly and overcome the demand-supply gap. Also, the manufacturers planned to expand their production due to availability of resources and labor in abundance after the relaxation of restrictions. All these factors had a positive impact on the coffee machines market.
Global Coffee Machines Market: Segmental Overview
Based on type, the coffee machines market is segmented into filter coffee machines, espresso coffee machines, capsule & pod coffee machines, and others. The filter coffee machines segment held the largest market share in 2021. A filter coffee machine is an equipment through which the water automatically drips into a heating tube. Once the water is heated, it is poured on to the ground coffee, going through a filter and coming out as a hot cup of coffee. Filtering coffee essentially involves pouring hot water over ground coffee to extract its hidden flavors. Many variables go into producing a well-filtered coffee. Filter coffee requires coarser grounds and more water than espresso; it also takes longer to brew. The rising popularity of filter coffee among millennials is driving the demand for filter coffee machines across the residential sector.
Based on category, the coffee machines market is segmented into manual and automatic & semi-automatic. The automatic & semi-automatic segment held the largest share in the coffee machines market in 2021. In a fully automatic machine, the coffee can be prepared at the press of a button. There are super-automatic coffee machines that are one step ahead of fully automatic machines. These machines usually grind and tamp the beans, as well as pull the shot. They often have a lot of programmable options which gives a decent amount of control over the brew, but not as much as a manual or semi-automatic. The rising demand for technologically-advanced machines with modern, chic designs is driving the segment’s growth.
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