Manufacturers in the fully automatic beverage machines market are addressing the growing consumer demand for products that offer a true bean-to-cup experience in espresso and novel coffee machines. This has catalyzed the need for quality coffee drinks in restaurants and ready-to-drink (RTD) beverages at home.
As such, manufacturers are offering a range of one-touch fully automatic coffee and beverage machines to engage with customer preferences. Smart technology-enhanced manual machines and customizable drip coffeemakers are enhancing the coffee experience of consumers.
There is a high growth potential for fully automatic beverage machines, since the industry-wide demand for premium coffee options is on the rise. For instance, Costa Coffee — a U.K.-based global coffee brand, serves premium coffee options through its prominent channel of more than 8,000 fully automatic vending machines. Also, ready-to-drink coffee is catching up with the soft drinks category in terms of sales, as the global out-of-home (OOH) and RTD segments were valued at ~US$ 360 and ~US$ 85 billion, respectively, in the year 2017.
Apart from the shift in customer preference for coffee and other beverages, technological innovations are creating potential incremental opportunities for manufacturers in the fully automatic beverage machines landscape. The global volume sales for fully automatic beverage machines accounted for ~940 thousand units in 2018, being the highest for machines in the price range of US$ 2,000 to US$ 4,000. This shows the strong spending capacity of consumers for high-end coffee and brewing machines.
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Seamless integration into the existing working of fully automatic beverage machines, such as supplementation of optional milk systems, has provided consumers with the freshly filtered coffee option. Also, individual inclusion of hot and cold milk foam additives compliments the process of professionally produced coffee.
Manufacturers in the fully automatic beverage machines ecosystem are focusing on offering complete beverage solutions under one roof. They are expanding their portfolios to offer hot, cold, and frozen beverage machines in the fully automatic space. Innovative espresso coffee machines act as a strategic addition in fully automatic beverage technology for the fast-growing coffee market. For instance, in April 2019, Electrolux — a Swedish multinational home appliance manufacturer, announced its acquisition of UNIC S.A.S — a French manufacturer of professional espresso machines, to increase its product offerings for beverage services in the hospitality industry.
Growing Need for Advanced Interface and Maintenance-free Process
The automatic cleaning cycle of beverage machines adds as a maintenance-free aspect for consumers in the fully automatic space. However, certain functional limitations and cost concerns of fully automatic beverage machines are likely to influence the growth of the market.
Many consumers have encountered loud gear-turning noises with the self-cleaning procedure, which eventually led to a wastage of large volumes of water. Fully automatic beverage machines are also prone to the risk of spilling liquid.
Also, the high price tag of fully automatic beverage machines hampers smooth sales, which could be one of the reasons for its just above-moderate CAGR of ~6%. To overcome these challenges and limitations, manufacturers are developing better interfaces with sensor-controlled monitoring of position and functionality for machines and advanced technology to efficiently manage water wastage.