Coffee Machines Market is Projected to Register a CAGR of 4.76% During the Revie
Posted by Pradeep Zende on March 27th, 2020
Global Coffee Machines Market is estimated to be valued at USD 11.81 Billion by 2026, expanding at a CAGR of 4.76% during the forecast period. Coffee machines can be used to brew a variety of coffee beverages such as latte, cappuccino, and espresso depending upon the machine and ingredients. Certain machines use coffee beans that are ground as needed with an integrated grinder, while other machines use pre-ground beans that have been freeze dried to increase shelf life. High coffee consumption in corporate offices has significantly driven the sales of coffee machines across the world.
North America constituted a dominant share of the global coffee machines market in 2018. The regional market is anticipated to exhibit a CAGR of 4.85% during the review period. Increasing consumption of coffee followed by the launch of innovative coffee machines with user-friendly features and efficient brewing are expected to drive the growth of the market in North America. Europe is expected to be an attractive regional market for the manufacturers of coffee machines owing to the increasing demand for specialty coffee, development of new technologically advanced products, and rising demand for easy-to-use capsules/pod coffee and automatic bean-to-cup machines. Moreover, the increasing import of coffee beans and rising number of cafés are expected to fuel the consumption of coffee in Spain, Italy, and France, thereby boosting the growth of the coffee machines market in the region.
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The global coffee machines market has been segmented on the basis of type, category, end user, and region.
By type, the market has been divided into filter coffee machines, capsule or pod coffee machines, traditional espresso machines, and bean-to-cup coffee machines. The filter coffee machines segment accounted for the largest share of the market in 2018. Filter coffee machines offer a cost-effective option for brewing coffee. They also have simple interfaces and can be used to serve a large number of people.
In terms of category, the global coffee machines market has been bifurcated into semi-automated and automated. The semi-automated segment accounted for a larger market share in 2018 as these machines are cost-effective, portable, and easy to master over time. Furthermore, semi-automated coffee machines have a simple design and user-friendly interface where water, temperature, and brewing time can be easily controlled. However, the fully automated segment is projected to grow at a higher rate owing to the easy mechanism in these machines which allows users to select from different programs to brew coffee according to their taste. Fully automated coffee machines also offer features for temperature control and specific water ratios. Moreover, advancements in the consumer electronics industry have led to the introduction of smart coffee machines.
Based on end use, the global coffee machines market has been classified as household and commercial. The commercial segment accounted for the larger market share in 2018 and is projected to register the higher CAGR during the forecast period. Commercially, coffee machines are used in corporate offices, hospitals, restaurants, and stores. Therefore, the growth of the commercial segment is driven by the rising consumption of coffee and an increasing number of restaurants and stores. Corporate offices and restaurants prefer coffee machines due to benefits such as the ease of use, cost-effectiveness, and timesaving.
Market Research Future recognizes Keurig Green Mountain, Inc. (US), Panasonic Corporation (Japan), Nestlé S.A. (Switzerland), Newell Brands (US), De'Longhi Group (Italy), Electrolux AB (Sweden), Melitta (Germany), Morphy Richards (UK), Koninklijke Philips N.V. (Netherlands), Hamilton Beach Brands, Inc. (US), Illycaffè S.P.A. (Italy), Robert Bosch GmbH (Germany), Simonelli Group S.P.A. Italy), Krups (Germany), JURA Elektroapparate AG (Switzerland), La Cimbali (Italy), Zojirushi America Corporation (Japan), Luigi Lavazza S.p.A. (Italy), and Schaerer Ltd (Switzerland) as the key players in the global coffee machines market.
Geographically, the global coffee machines market has been categorized as North America, Europe, Asia-Pacific, South America, and the Middle East & Africa. As per MRFR analysis, North America dominated the market, accounting for the largest share in 2018. The market in Asia-Pacific is expected to register the highest CAGR of 5.82% during the forecast period. Europe accounted for the second-largest market share in 2018.
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About the AuthorPradeep Zende
Joined: February 12th, 2019
Articles Posted: 396
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