SAN FRANCISCO, Dec. 8, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Fully Automatic Coffee Machines - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 5; Released: December 2021
Executive Pool: 431
Companies: 141 - Players covered include Animo B.V.; Bravilor Bonamat BV; BSH Home Appliances Corporation; Crem International AB; De'Longhi Group; Eversys AG; Franke Holding AG; Groupe SEB; Gruppo Cimbali S.p.A.; JURA Elektroapparate AG; N&W Global Vending SpA; Rancilio Group S.p.A.; Rex-Royal AG; Wilbur Curtis Co. and Others.
Coverage: All major geographies and key segments
Segments: Segment (Quick Service Restaurants, Full Service Restaurants)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.
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Global Fully Automatic Coffee Machine Market to Reach US$5.2 Billion by the Year 2026
Coffee consumption continues to witness healthy demand in both developed and developing markets. Factors such as rising incomes coupled with significant investments by major food & beverage brands are expected to benefit market growth. The significant gains posted by coffee are reflected by mushrooming cafés across cities globally. Preference for coffee varies from one region to another, with convenience being a major driving factor for the growth of instant coffee, despite the dominance of fresh coffee. The versatile flavor and packaging options make instant coffee further attractive to consumers. Demand for instant coffee is especially high in developing markets such as Asia-Pacific where cost and convenience play a bigger role in purchase decisions. Market for instant coffee is also high among first-time coffee consumers looking for convenience and taste. Automatic coffee machines are now widely used in most households and have gone way beyond restaurants and offices like before. Moreover, such devices are now more technically advanced and the series of automatic espresso machines particularly, has achieved unparalleled precision in coffee making like trained professionals. The interest in espresso beverages has also led to an increase in the sales of espresso machines worldwide.
Amid the COVID-19 crisis, the global market for Fully Automatic Coffee Machine estimated at US$4.1 Billion in the year 2020, is projected to reach a revised size of US$5.2 Billion by 2026, growing at a CAGR of 3.9% over the analysis period. Quick Service Restaurants, one of the segments analyzed in the report, is projected to grow at a 3.8% CAGR to reach US$3.8 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Full Service Restaurants segment is readjusted to a revised 4.3% CAGR for the next 7-year period. This segment currently accounts for a 29.5% share of the global Fully Automatic Coffee Machine market. Self-service kiosks are already quite famous in Asian and European fast casual and quick service restaurants and they are catching on quickly even in the US. This increased use of self-service kiosks at restaurants had given rise to growing adoption of automated coffee vending machines at bakeries and hotels.
The U.S. Market is Estimated at $1.1 Billion in 2021, While China is Forecast to Reach $343.1 Million by 2026
The Fully Automatic Coffee Machine market in the U.S. is estimated at US$1.1 Billion in the year 2021. The country currently accounts for a 26.27% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$343.1 Million in the year 2026 trailing a CAGR of 4.2% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.4% and 3.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.1% CAGR while Rest of European market (as defined in the study) will reach US$470.3 Million by the end of the analysis period. More
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SOURCE Global Industry Analysts, Inc.