Wilmington, Delaware, Oct. 30, 2023 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, "Vending Machine Market By Type (Food Vending Machine, Beverages Vending Machine, Tobacco Vending Machine, Others Vending Machine), By Application (Hotels And Restaurants, Corporate Offices, Public Places, Others), By Technology (Automatic Machine, Semi-Automatic Machine, Smart Machine), By Sales Channel (Online, Offline): Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the global vending machine Industry was valued at $18.3 billion in 2022, and is projected to reach $37.2 billion by 2032, growing at a CAGR of 7.5% from 2023 to 2032.
Request Sample Copy of Report: https://www.alliedmarketresearch.com/request-sample/9851
Prime determinants of growth
The increase in demand for food vending machines in offices/institutions, the surge in consumption of convenience food items, and the increasing adoption of smart customer solutions in several food categories drive the global vending machine market. Moreover, the increasing need to expand virtual space in a retail outlet is expected to create lucrative opportunities in the industry. On the other hand, the high initial installation cost of vending machines restrains the market growth to some extent.
The hotels and restaurants segment to maintain its leadership status throughout the forecast period
Based on application, the hotels and restaurants segment held the highest market share in 2022, contributing to more than one-third of the global vending machine market revenue and is anticipated to maintain its leadership status throughout the forecast period, owing to rise in the trend of luxury dining and tourism. In addition, people with high disposable income spend more on luxury amenities, which further boosts the demand for restaurants & hotels. However, the public places segment is expected to manifest the highest CAGR of 8.4% from 2023 to 2032, due to increasing crowd in public outlets which is encouraging store owners to install automated technologies for serving their products in an effective manner.
The beverages vending machine segment to maintain its leadership status throughout the forecast period.
Based on type, the beverages vending machine segment held the highest market share in 2022, accounting for more than three-fifths of the global vending machine market revenue and is projected to maintain its leadership status throughout the forecast period. The acceptance and prevalence of these machines have given rise to innovation in the industry, which is augmenting the segment growth. However, the food vending machine segment is estimated to manifest the highest CAGR of 8.4% from 2023 to 2032. This is because the demand for food vending machines is rising, owing to increasing consumer preference for ready-to-eat food products.
Procure Complete Report (325 Pages PDF with Insights, Charts, Tables, and Figures): https://www.alliedmarketresearch.com/checkout-final/5487eb2ea25d111140d997387458910b
The offline segment to maintain its leadership status throughout the forecast period
Based on sales channel, the offline segment dominating the market in 2022, accounting for more than two-thirds of the global vending machine market revenue, and is estimated to maintain its leadership status throughout the forecast period. Specialty stores are introducing different types of vending machine products with various features, which attract the consumer, thereby propelling the growth of the market. However, the online segment is projected to grow at the highest CAGR of 8.2% from 2023 to 2032. The surge in penetration of several online portals in developing regions and the rise in the number of offers or discounts in terms of purchasing vending machines through online channels boost the growth of the segment.
North America to maintain its dominance by 2031
Based on region, North America maintained its dominace with the highest market share in terms of revenue in 2022, accounting for more than one-third of the global vending machine market revenue. Factors, such as changing lifestyles and high demand for ready-to-eat (RTE) meals augment the growth of the market in this province. On the other hand, the Asia-Pacific region is expected to witness the fastest CAGR of 8.3% from 2023 to 2032.
Enquire before buying: https://www.alliedmarketresearch.com/purchase-enquiry/9851
Leading Market Players: -
- AZKOYEN S.A.
- BIANCHI INDUSTRY SPA
- ROYAL VENDORS, INC.
- CRANE COMPANY
- FASTCORP VENDING LLC
- FUJI ELECTRIC CO., LTD
- JOFEMAR S.A.
- SEAGA MANUFACTURING INC.
- SELECTA GROUP B.V.
- SANDENVENDO AMERICA, INC.
The report offers a detailed analysis of these key players in the global vending machine market. These players have adopted numerous strategies such as agreements, collaborations, expansion, joint ventures, new product launches, and others to increase their market share and maintain dominant shares in different regions.
Country Reports We Have in this Industry:
• U.S. Vending Machine Market Opportunity Analysis and Industry Forecast, 2022-2032
• Canada Vending Machine Market Opportunity Analysis and Industry Forecast, 2022-2032
• Mexico Vending Machine Market Opportunity Analysis and Industry Forecast, 2022-2032
• Europe Vending Machine Market Opportunity Analysis and Industry Forecast, 2022-2032
• Germany Vending Machine Market Opportunity Analysis and Industry Forecast, 2022-2032
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact:
David correa
United States
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int'l: +1-503-894-6022
Toll Free: +1-800-792-5285
Fax: +1-800-792-5285
help@alliedmarketresearch.com
