Beverage vending machines hold the core business for the vending machine industry. Beverage vending machines dispense cold and hot beverages on inserting money or payment card.
Beverage vending machines are installed in shopping malls, retail stores, hotels, restaurants, recreational facilities, etc.
Increase in the demand for ready-to-drink or packaged beverages among consumers is expected to drive the overall beverage vending machine market
Europe and North America are mature beverage vending machine markets. Replacement of beverage vending machines in industries in Europe and North America is increasing the demand for beverage vending machines in these regions.
In the Asia Pacific, Japan is the most lucrative country in the regional market. High population density and real estate prices are expected to drive the Japan beverage vending machine market. In addition, low crime rate and street-sided norms are expected to accelerate the overall beverage vending machine during the forecast period.
The growth of the packaged beverage industry is anticipated to play a crucial role in the growth of the North America beverage vending machine market
Beverage vending machine manufacturers are developing energy-efficient solutions to reduce the carbon footprint of these machines
Manufacturers are trying to incorporate a cashless payment solution within the beverage vending machines. In addition, some of the beverage vending machines offer different features such as an adjustable thermostat, Led display, and Wi-Fi. Moreover, manufacturers are offering multifunction beverage vending machines to increase demand across the world. This is expected to increase the market attractiveness of beverage vending machines across the world during the forecast period.
The retail industry has witnessed substantial growth in the past few years. A rise in overall retail sales will also fuel the growth of the market for beverage vending machines.
Beverage vending machines have gained immense popularity across the globe due to their high usage and convenience
Increasing consumer preference for ready-to-drink rather than carrying home-cooked food and beverages in offices, shopping malls, airports, educational institutions, etc. is augmenting the demand for beverage vending machines in commercial spaces
Furthermore, increasing research and development activities, which have led to the introduction of fully smart vending machines are propelling the growth of the beverage vending machine market
However, strict regulations regarding the sales of unhealthy, junk food, and tobacco products in public places and the majority of commercial spaces are expected to restrain the growth of this market. Fixed product prices may also act as a major challenge for the industry.
The global beverage vending machine market has been segmented based on product type, function, application, distribution channel, and region.
In terms of product type, the global beverage vending machine market has been classified into a hot beverage vending machine and cold beverage vending machine. Hot beverage vending machine has been further segmented into less than 100 cups per day, 100 - 200 cups per day, 201 - 300 cups per day, and more than 300 cups per day. Cold beverage vending machine has been further divided into less than 150 bottles, 151 – 200 bottles, 201 – 300 bottles, and more than 300 bottles.
In terms of function, the global beverage vending machine market has been segregated into semi-automatic and fully automatic
In terms of application, the market has been divided into corporate offices, shopping malls, hotels & restaurants, hospitals, airports, and others
In terms of distribution channel, the global beverage vending machine has been bifurcated into online and offline
Based on region, the market has been classified into North America (U.S., Canada, and Rest of North America), Europe (U.K., Italy, France, Germany, and Rest of Europe), Asia Pacific (India, China, Japan, and Rest of Asia Pacific), Middle East & Africa (GCC, South Africa, and Rest Of the Middle East & Africa), and South America (Argentina, Brazil, and Rest of South America)
The beverage vending machine market is fragmented due to the presence of several players. Competition is expected to intensify in the coming years with the entry of several local players. Key companies profiled in the research report include Fuji Electric Co., Ltd, Crane Co., BIANCHI INDUSTRY SPA, Lotte Engineering & Machinery MFG. CO, Azkoyen Group, SandenVendo GmbH, IVS Group SA, Royal Vendors Inc., Evoca Group, Melitta Group, and others.