Hot Drink Vending Machine Market Scope
Hot drink vending machine market is a new and fast growing market. Hot drinks are an important part of the food industry and therefore, the hot drink vending machine market has been expanding at a rapid rate over the past few years. The growth in this industry can be attributed to factors such as increasing demand for healthy beverages, rising disposable income levels among consumers, demand for on-the-go snacks , rise in urbanization , increase in purchasing power of consumers and changing lifestyle habits. and Hot drink vending machines are widely used in hotels, restaurants and other places. They sell hot drinks such as coffee, tea and milk. The main function of these machines is to provide the beverage at a lower price than the market price.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Azkoyen Group (Spain), R.S. Hughes Co., Inc.(United States), Crane Merchandising Systems (United States), Fuji Electric (Japan), GLORY (Japan), Sanden Corporation (Japan), Wurth Industry North America (United States), Diebold Nixdorf (United States), Mars, Incorporated (United States) and Cardinal Distributing Co. Inc. (United States) |
CAGR | 7.0% |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. The global market is extremely competitive and consists of a limited number of providers who compete with one another. the extraordinary competition, changing consumer spending patterns, demographic trends, and frequent changes in consumer preferences pose significant opportunities for market growth. The key manufacturers are targeting the innovations of the products with better quality, better technical characteristics, . The key players are probable to stay a stronghold on the market over the anticipated period. The key players are accepting strategic decisions and are thinking upon mergers and acquisitions so as to keep up their presence within the market Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Hot Drink Vending Machine market throughout the predicted period.
Azkoyen Group (Spain), R.S. Hughes Co., Inc.(United States), Crane Merchandising Systems (United States), Fuji Electric (Japan), GLORY (Japan), Sanden Corporation (Japan), Wurth Industry North America (United States), Diebold Nixdorf (United States), Mars, Incorporated (United States) and Cardinal Distributing Co. Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are SandenVendo GmbH (Germany), Seaga Manufacturing Inc.(United States), Orasesta Spa (Italy) and Godrej and Boyce Mfg. Co. Ltd.(India).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Hot Drink Vending Machine market by Type and Region with country level break-up.
On the basis of geography, the market of Hot Drink Vending Machine has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In March 2022 Crane Announces Intention to Separate into Two Independent, Publicly Traded Companies. Crane’s Board of Directors and management believe that the creation of two pure-play companies with distinct product and repair offerings will better position Crane's businesses to deliver long-term growth and build value for patrons, investors and their associates, with each company., and In June 2021 Crane announced a strategic partnership with Fintaris Payment Solution for expansion of their business in Middle East. Fintaris has now been authorized with distribution rights to CPI’s range of products and services. This is often a major step for expanding the footprint of the brand within the region, coinciding with the launch of Paypod pay stations, CPI’s all-new solution for the retail market that automates cash payment at the purpose of sale. Headquartered within the UAE and serving the center East region,
In April 2021 Azkoyen launches its most compact automatic coffee machine, the Vitro S1, with fresh milk, thus completing its successful Vitro range. The Vitro S1 MIA incorporates the innovative micro-injection air technology, patented by Azkoyen, which, developed jointly with prestigious engineering companies that specialize in the treatment of fresh milk., , In June 2021 Azkoyen announces that they will be the official supplier of vending machines for AVLO trains. Vending machines of Azkoyen are going to be installed within the new AVLO trains, the low cost, high speed Renfe trains that may initially cover routes between Madrid, Zaragoza and Barcelona., and In September 2021 GLORY Announces IoT Enabled Vending Solution with largest railway operator Deutsche Bahn The first of its kind at any depot in Germany and branded “Zugvogel” by Deutsche Bahn, the Glory solution combines IoT-enabled hardware with cloud-based software.
Influencing Trend:
Increase in smart phone user and Introduction of cashless payment result in implementation of cashless payment mode in vending machine spurs the growth in sale., Seeing the crisis of land and space the beverages vending machine is capable of providing products at any time while acquiring less space and Smart vending machines offer smooth interactions by touch screens and incorporate machine learning & algorithms to serve their users better.
Market Growth Drivers:
Increasing demand for ready-to-drink or packaged beverage or demand for on-the-go snacks among consumers is the major factor, which spurs the growth of the vending machine industry. and Establishments of vending machine in restaurants, hotels, airports, among others are expected to Trigger the growth of the global market
Challenges:
The high cost of the machines, which is mainly due to the large size and advanced technology. This makes it hard for small businesses to invest in this type of equipment. and Hot drinks vending machines have a limited shelf life because they need to be refilled every few days or weeks depending on how much drinks being sold at any given time result in delay of service.
Restraints:
There has been increase in the number of netizens along with rise in internet penetration., Due to shift in consumer buying behaviour and increasing urbanization, the demand is expected to skyrocket. and Revenue generation of beverage vending machine industry through railway or metro stations and airports is expected to boost the growth of the worldwide market.
Opportunities:
There has been increase in the number of netizens along with rise in internet penetration., Due to shift in consumer buying behaviour and increasing urbanization, the demand is expected to skyrocket. and Revenue generation of beverage vending machine industry through railway or metro stations and airports is expected to boost the growth of the worldwide market.
Key Target Audience
Venture and Capitalist, New entrants/investors, Analysts and Strategic Business Partners, Traders/Suppliers & Distributors, Raw Material Suppliers, End-use industries and Others