Dublin, Sept. 26, 2023 (GLOBE NEWSWIRE) -- The "Global Espresso Machines Market (2023-2028) by Product, Applications, Distribution Channel, and Geography, Competitive Analysis, Impact of Covid-19, Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.
The Global Espresso Machines Market is on a caffeine-fueled growth trajectory, with estimates indicating its worth at USD 12.8 billion in 2023 and a projected surge to USD 16.73 billion by 2028, demonstrating an impressive compound annual growth rate (CAGR) of 5.50%.
Espresso, the beloved concentrated coffee beverage, has found its way into the hearts and cups of consumers worldwide, driving an insatiable demand for espresso machines. These remarkable kitchen appliances expertly craft espresso, cappuccino, latte, macchiato, and even extend their prowess to hot chocolate and tea. They do this by propelling hot water through finely-ground coffee beans under high pressure, delivering the perfect cup every time.
Recent data trends highlight an escalating global coffee culture, with the National Coffee Association's latest report revealing record-high specialty coffee consumption rates in the United States in 2023. Espresso-based beverages, often savored away from home, have surged by 30% since the pandemic's onset, marking a resurgence from the COVID-19 era and setting the stage for remarkable industry growth.
However, the industry faces its own set of challenges, primarily in the form of high prices. Espresso machines, though capable of delivering unmatched coffee quality, can be relatively expensive, limiting their adoption among budget-conscious consumers and businesses.
To counter this, manufacturers are innovating with features like smart connectivity, touchscreen displays, automatic milk frothing, and customizable settings. A prime example is the TK-02 by Brooklyn Coffee Company Terra Kaffe, a next-gen smart espresso machine designed to deliver ultra-customized at-home coffee experiences.
While espresso machines rise in popularity, it's essential to balance the love for coffee with health concerns. Excessive caffeine consumption can lead to adverse effects, including anxiety, insomnia, and heart palpitations, prompting consumers to reduce their caffeine intake and potentially impacting espresso machine sales.
Market Segmentations
The Global Espresso Machines Market segments are as follows:
- By Product: Semi-automatic, Automatic, and Super-automatic. Semi-automatic espresso machines lead the market share, striking a perfect balance between convenience and control at an affordable price.
- By Applications: Household and Commercial. The commercial segment is set to grow at the highest CAGR due to a surge in cafes, restaurants, and corporate spaces like airports, hospitals, and hotels.
- By Distribution Channel: Online and Offline. Online distribution channels dominate, thanks to the rise of e-commerce and the convenience of online
Companies Mentioned
- Bajaj Ltd.
- Breville
- De'Longhi Appliances S.r.l.
- Electrolux AB
- Gruppo Cimbali SpA
- Hamilton Beach Brands Inc.
- Jura Elektroapparate Ag
- Keurig Green Mountain, Inc.
- Koninklijke Philips N.V.
- Melitta
- Nestle Nespresso S.A.
- Newell Brands
- Panasonic Corp.
- Robert Bosch GmbH
- Schaerer Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/k5n5gl
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