Wilmington, Delaware, United States, Aug. 09, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global coffee machine market is projected to flourish at a CAGR of 5.2% from 2022 to 2031. As per the report published by TMR, a valuation of US$ 19.2 billion is anticipated for the market in 2031. As of 2023, the market for coffee machines is expected to close at US$ 12.8 billion.
With increased coffee consumption globally, there is a growing demand for coffee machines that provide convenience and customization for making a variety of coffee beverages. Coffee machines offer quick and convenient solutions for brewing coffee, which is particularly attractive to busy individuals who want their coffee without the hassle of manual preparation.
Urbanization and busy lifestyles have contributed to the growth of the coffee machine market, as people seek efficient ways to enjoy their favourite coffee beverages at home or on the go. The coffee machines market is gaining popularity in offices and commercial spaces, for providing employees and customers with quality coffee options
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Market Snapshot:
| Report Coverage | Details | |
| Market Revenue | US$ 12.2 Bn | |
| Estimated Value | US$ 19.2 Bn | |
| Growth Rate - CAGR | 5.2% | |
| Forecast Period | 2023-2031 | |
| No. of Pages | 180 Pages | |
| Market Segmentation | Type, Installation, Coffee Filter Type, Cup Capacity, Operation, Price, End-user, Distribution Channel | |
| Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, South America | |
| Companies Covered | BLACK+DECKER, De'Longhi, Hamilton Beach Brands, Inc., Kalerm, Koninklijke Philips N.V.,, Miele, Mr. Coffee, Nestlé, Smeg, WMF GmbH, Other Key Players | |
Key Takeaways from the Market Study
- As of 2022, the coffee machine market was valued at US$ 12.2 billion
- By type, drip filter coffee machines are preferred owing to their automated feature and low maintenance cost
- Based on operation, the semi-automatic coffee machine segment accounts for the highest market share due to their low cost as compared to other variants
- Based on end-user, the commercial segment is expected to generate high revenue during the forecast period, due to the increased use of commercial coffee brewers
Coffee Machines Market: Key Trends and Opportunistic Frontiers
- The growing popularity of centralized chillers, as they serve multiple buildings, has gained popularity as a sustainable solution in densely populated urban areas, contributing to the growth of the HVAC chillers market.
- Ongoing research and development efforts have led to technological advancements and development to introduce advanced coffee machines that enhance energy efficiency, performance, and user experience.
- Coffee machine manufacturers were focused on improving user experiences by offering touchscreens, intuitive controls, and one-touch brewing options for convenience. Compact coffee machines are gaining popularity as these are suitable for smaller kitchens and offices, without compromising on brewing quality.
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Coffee Machine Market – Regional Analysis
- North America is expected to account for the highest share of the coffee machine market during the forecast period. The market in the region is driven by a mix of both residential and commercial demand for various types of coffee machines, including drip coffee makers, single-serve machines, and espresso machines. The countries such as the United States and Canada have a well-established coffee culture, with a significant portion of the population consuming coffee daily.
- The Asia Pacific coffee machine market is anticipated to grow at the fastest CAGR during the forecast period. Rapid urbanization, technological advancements in coffee machines, the increased preference for highly automatic small kitchen appliances, and the high purchasing power of residents all contribute to market growth. The rising popularity of international cafe brands, the establishment of a retail chain of well-known companies, and the growing number of cafes and coffee shops boost the market demand in the region.
Competitive Landscape
The coffee machine market is highly consolidated with the presence of a few market players. The leading players in the market are investing in new product development, mergers, and acquisitions to gain a competitive edge. Transparency Market Research has profiled the following players in its global coffee machine market report:
- BLACK+DECKER
- De'Longhi
- Hamilton Beach Brands, Inc.
- Kalerm
- Koninklijke Philips N.V.,
- Miele
- Mr. Coffee
- Nestlé
- Smeg
- WMF GmbH
- Other Key Players
In July 2021 - Hamilton Beach introduced a Convenient Craft™ Rapid Cold Brew and Hot Coffee Maker. One can enjoy cold brew coffee faster with this rapid cold brew and hot coffee maker by Hamilton Beach. Cold brew coffee is easily made in less than six minutes and hot cup ready in less than three minutes
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Coffee Machine Market – Key Segments
Type
- Drip Coffee Makers
- Espresso machines
Installation
- Free Standing
- Built In
Coffee Filter Type
- Paper
- Capsule
- Basket Filter
Cup Capacity
- Up to 4 Cups
- 5 to 8 Cups
- 9 to 11 Cups
- 12 Cups & Above
Operation
- Fully Automatic
- Manual
- Semi-Automatic
Price
- Low
- Medium
- High
End-user
- Residential
- Commercial
- Offices
- Restaurants
- Hospitals
- Others (Institution etc.)
Distribution Channel
- Online
- E-Commerce Websites
- Company-Owned Websites
- Offline
- Hypermarkets / Supermarkets
- Specialty Stores
Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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