The Self Service Coffee Machine Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Self Service Coffee Machine Global Market Report 2024, The self service coffee machine market size has grown rapidly in recent years. It will grow from $5.89 billion in 2023 to $6.52 billion in 2024 at a compound annual growth rate (CAGR) of 10.5%. The growth in the historic period can be attributed to increasing urbanization, rising coffee culture, busy lifestyles, growth in the foodservice industry, consumer demand for convenience.
The self service coffee machine market size is expected to see strong growth in the next few years. It will grow to $9.36 billion in 2028 at a compound annual growth rate (CAGR) of 9.5%. The growth in the forecast period can be attributed to growing preference for specialty coffee, expansion of coffee shop chains, increasing consumer awareness about sustainable practices, demand for customization in coffee options, globalization of coffee culture. Major trends in the forecast period include rise of connected coffee machines, emphasis on eco-friendly and sustainable solutions, integration of artificial intelligence in coffee machines, personalized coffee experiences, growth in the market for cold brew and iced coffee.
Rising coffee consumption is expected to propel the growth of the self-service coffee machine market going forward. Coffee consumption refers to consuming or drinking coffee as a beverage. Coffee is a popular beverage made from roasted coffee beans, which are the seeds of the coffee plant. Self-service coffee machines play a significant role in coffee consumption by being easily accessible, convenient, and customizable for consumers. Self-service coffee machines’ ease of use, customization options, and wide availability make them popular for coffee consumption in various settings like hotels, restaurants, cafes, workplaces, and others. For instance, in March 2022, according to the NCA (National Coffee Association), a US-based trade association, 66% of Americans regularly consume coffee in 2022, more than any other beverage (including tap water), and an increase of about 14% since January 2021. Compared to 80% in January 2020, 84% of coffee consumers now report having coffee at home. Therefore, rising coffee consumption is driving the growth of the self-service coffee machine market.
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The self service coffee machine market covered in this report is segmented –
1) By Sales Type: Machine Sales, Rental Service
2) By Distribution Channel: Direct Sale, Indirect Sale
3) By Application: Hospitality, Offices, Other Applications
Advanced technologies are a key trend gaining popularity in the self-service coffee machine market. Major companies operating in the self-service coffee machine market are focused on adopting new and advanced technologies to sustain their position in the market. For instance, in July 2021, Nestle Nespresso S.A., a Switzerland-based food and beverage company, launched new touchless features for its Nespresso Momento range. The three new touchless functionalities for the Nespresso Momento eco-system include remote control, automatic brewing, and lock-screen. Coffee consumers can operate Nespresso Momento machines remotely from their smartphones via an easy-to-use web app. The Nespresso Momento machines also have a lock-screen option that enables secure staff interaction. It will allow workers to insert the capsule and select their chosen cup size and recipe from their phone without touching the machine.
The self service coffee machine market report table of contents includes:
1. Executive Summary
2. Self Service Coffee Machine Market Characteristics
3. Self Service Coffee Machine Market Trends And Strategies
4. Self Service Coffee Machine Market Size And Growth
5. Self Service Coffee Machine Segmentation
…..
26. Self Service Coffee Machine Regional And Country Analysis
27. Self Service Coffee Machine Competitive Landscape And Company Profiles
28. Self Service Coffee Machine Key Mergers And Acquisitions
29. Self Service Coffee Machine Future Outlook and Potential Analysis
30. Appendix
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