Global Fully Automatic Beverage Machines Market: Overview
- The global fully automatic beverage machines market was valued at ~US$ 6.7 Bn in 2018, and is expected to expand at a CAGR of ~6% from 2019 to 2027. The global fully automatic beverage macFully Automatic Beverage Machines Markethines market is expanding significantly, in terms of size and value. The demand for out-of-home (OOH) coffee is fueling the need for fully automatic coffee vending machines and other fully automatic beverage machines.
- The fully automatic beverage machines market in Asia Pacific is growing rapidly, as a result of urbanization and development in mid-sized cities (tier II or tier III), expansion of a number of outlets/local coffee chains into multinational companies, and the easy availability of products.
- The fully automatic beverage machines market in Europe accounted for ~40% share of the global fully automatic beverage machines market in 2018, followed by Asia Pacific and North America. The Europe fully automatic beverage machines market is anticipated to maintain its dominance during the forecast period. This can be attributed to the presence of world leading manufacturers of fully automatic beverage machines in the region.
Fully Automatic Beverage Machines Market: Driving Factors
- Increase in the demand for fully automatic beverage machines from universities, colleges, and offices in Asia Pacific countries is fueling the growth of the fully automatic beverage machines market in the regions. The installation of fully automatic beverage vending machines in colleges in China is increasing at a fast pace, and is likely to grow during the forecast period. The growth potential of the OOH coffee segment is evident, with Coca-Cola completing the acquisition of U.K.-based global coffee brand ‘Costa Coffee’ from Whitbread PLC for US$ 5.1 Bn on January 3, 2019.
- Fully automatic vending machines are a prominent channel through which Costa Coffee is consumed across the world. The company had over 8,000 automatic vending machines to serve coffee. Thus, rise in the global demand for OOH coffee is fueling the demand for fully automatic coffee and other beverage vending machines across the world.
For More Details, Request A Sample Report@ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=73268
Fully Automatic Beverage Machines Market: Key Challenges
- The taste preferences of consumers for beverage are changing with respect to geography and demography, thus restraining the fully automatic beverage machines market.
- It has been observed that, the population in North America and Europe prefer to purchase healthy drinks from fully automatic beverage machines. However, carbonated soft drinks are popular in other regions.
- Manufacturers of fully automatic beverage machines are selling different products as per region to increase their market reach.
- The manufacturing cost of fully automatic beverage machines is high, and selling different types of fully automatic beverage machines in different locations has become a challenge for them.
Get More Press Release by TMR:
