Dublin, Aug. 01, 2023 (GLOBE NEWSWIRE) -- The "Coffee Machine Market- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Type, By Technology, By End-User, By Distribution Channel, By Region, By Competition" report has been added to ResearchAndMarkets.com's offering.
The Global Coffee Machine Market is forecasted to grow at around 6-8% in the forecasted year and will be valued at around USD10 billion in 2022 due to the rising coffee culture, increasing demand for instant coffee at homes, and the development of new cafes, coffee shops, restaurants, and hotels.
The Global Coffee Machine is fragmented into espresso coffee machines, filter/drip coffee machines, and pod/capsule coffee machines based on type. For residential use, the drip filter coffee machine is more in demand owing to the lower price and the feasible use at home. Moreover, the drip filter coffee machine can be used with multiple coffee brands and is quite easy to clean. Additionally, the running time of the product is very low, and it requires less maintenance.
The market for coffee makers is expanding because quick, non-alcoholic drinks like coffee are becoming more and more common in cafeterias and restaurants. In coffee shops and workplace cafeterias, coffee machines reduce the amount of time and labor needed to make coffee. One cause for the rise in popularity of instant non-alcoholic beverages like coffee is the rising demand for non-alcoholic beverage drinks among millennials, consumer knowledge of low-sugar and non-alcoholic drinks, hectic work schedules, and changing consumer taste.
The need for coffee makers is being driven by the steadily rising levels of coffee consumption in different parts of the world, rising disposable income levels, an aging population of young, and the working class. Due to the growth of the coffee culture, coffee shops, and capsule systems, the need for coffee makers is rising quickly. The market is flooded with different kinds of coffee makers, which is helping to grow the industry.
The rising Coffee Culture Will Lead to The Growth of the Global Coffee Machine Market
The demand for coffee is increasing continuously owing to the rising coffee culture in several countries. Europe is the largest consumer of coffee. According to the data provided by the Centre for the Promotion of Imports Europe consumed more than 3.2 million tonnes of coffee in the year 2021. Moreover, owing to the new technological advancements in irrigation, the coffee plantation has subsequently increased to fulfill the demand for coffee all around the globe.
Increasing Demand For Coffee Machines in The Commercial Sector
The demand for the coffee machine has been rising in the commercial sector due to the increase in the number of cafes, coffee shops, and restaurants. As per the data provided by a report, there are more than 15 million coffee shops in the world, and the revenue from the coffee industry was estimated to be USD 90277 million in the year 2022. Moreover, the consumption of coffee is forecasted to increase by one-third by the year 2030 due to the rise in smart features. For instance, JURA Elektroapparate AG has unveiled the Zura Z10 series of coffee makers, which has hot and brew specialties. Along with hot drinks, the coffee maker can prepare a variety of coffee machines, including strong espresso and chic flat white. The product also contains clever features like mobile access via any tablet or smartphone.
The introduction of ready-to-serve drinks is posing the biggest threat to global coffee machines market.
The majority of coffee drinkers anticipate how refreshed they will feel and how much stress will be reduced. But as soon as ready-to-serve beverages start to appear on the market, coffee, and coffee makers start to come under pressure. Additionally, several products containing caffeine, such as energy drinks and soda, are being promoted as coffee substitutes. Caffeine, which is included in moderate amounts in energy drinks, helps people relax. In comparison to coffee makers, energy drinks also have the advantage of being ready to drink.
Companies Mentioned
- De'Longhi S.p.A.
- Groupe SEB
- Keurig Dr Pepper Inc.
- Nestle S.A.
- JURA Elektroapparate AG
- Luigi Lavazza S.p.A.
- EVOCA S.p.A.
- Hillhouse Group
- BSH Home Appliances
- Rancilio Group S.p.A.
Market Segmentation
By Product Type:
- Espresso coffee machine,
- Filter/drip coffee machine,
- Pod/capsule coffee machine
By Technology:
- Semi-Automatic
- Fully Automatic
By End-user:
- Foodservice
- Offices
- Residential
- Institutional sector
- Others (Airports, Automotive Showrooms, Caterers, Hospitals, etc.)
By Distribution Channel:
- Distributor/direct sales
- Multi branded stores
- Online
- Others (supermarket/hypermarket, specialty stores, etc.).
For more information about this report visit https://www.researchandmarkets.com/r/3l5ung
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