Report ID:
SQMIG25E2125 |
Region:
Global |
Published Date: November, 2024
Pages:
176
|Tables:
0
|Figures:
0
Global Coffee Machine Market size was valued at USD 6.49 Billion in 2022 poised to grow from USD 6.80 Billion in 2023 to USD 9.81 Billion by 2031, growing at a CAGR of 4.7% in the forecast period (2024-2031).
One of the main causes of the expansion is the rise in coffee consumption in Asian nations. Furthermore, it is projected that the introduction of new goods, including organic and green coffee, would lead to significant consumption and support market expansion. As the awareness of the health benefits of coffee rises, that includes preventing liver cancer, type 2 diabetes, and heart failure, grows among consumers, an increase in coffee maker sales is expected. This is due to there likely will be an increase in coffee consumption. The steep rise in coffee consumption is what primarily fuels the growth of the sector.
Due to a growing number of wealthy consumers and a growing taste for gourmet varieties, there has been a surge in demand for specialty beverages, particularly coffee, in recent decades. Espresso cappuccino machines reduce the time and work involved in preparing coffee in restaurants and coffee centers. The latest innovations in the global coffee machine market trends are coffee capsules that help incorporate better tasting coffee as well as smart coffee makers that are Bluetooth, Wi-Fi, voice assistance among other features. These devices can be accessed, operated, and controlled via smartphones from any location within the house.
Global Market Size
Largest Segment
Fastest Growth
Growth Rate
CAGR
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The global coffee machine market is segmented based on type, technology, end user, and region. in terms of type, the market is grouped into filter coffee machines, capsules or pod coffee machines, traditional espresso machine, and bean-to-cup coffee machines. Based on technology, the market is trifurcated into manual, semi-automated, and fully automated. Based on the end user, the market is trifurcated into residential, commercial, office, and hotels & restaurants. Based on region, the market is segmented into North America, Europe, Asia-Pacific, Central & South America and the Middle East & Africa.
Analysis by Type
As per categorization by type, the market is classified as filter coffee machines, capsules or pod coffee machines, traditional espresso machine, and bean-to-cup coffee machines. Among these, filter coffee machines earned the largest share and continue to hold the dominant global coffee machine market share. Easy to use and reasonably priced, filter coffee machines are the most prevalent type of coffee maker across the world. The various modifications that have been brought about include programmable brewing, energy-saving designs and improved filtration systems among others. As consumers are demanding better equipment for home use, the mushrooming market for filter coffee manufacturers is in line with the demand for easy to use, yet rich flavored coffee. Furthermore, their low-cost and versatility in different styles of brewing help them remain at the forefront of the market to the satisfaction of many consumers.
Capsules or pod coffee machines are poised to become the fastest-growing segment in the global coffee machine market due to their unparalleled convenience, speed, and consistency in delivering high-quality coffee. Consumers are increasingly leading busy lifestyles and requiring single serve products which means they must insert the pod in minutes and cleaning after brewing does not take a lot of effort. It also provides different variations of coffee flavor. In addition, the growth is fueled by expansion of capsule brands and the improvement of eco-friendly pods and smart machine features, making them suitable for both home and work environments.
Analysis by Technology
Fully automated coffee machines are revolutionizing the global coffee machine market with innovations focused on convenience, customization, and quality. Modern espresso machines come with additional functions like touch screens, smart accessibility and automatic milk foamers making it easier to prepare café style coffee either at home or in places of work. The trend has also been fueled by the ability of such machines to customize strength, temperature and even flavor. Fully automated systems represent the largest share of the market owing to their luxury appeal, high convenience, and the speed with which they prepare coffee for the user. The systems are ideal for individuals who want to enjoy custom-made coffee without the intricacies of brewing it manually. These these systems are an ideal solution for coffee enthusiasts who do not want any botheration.
Semi-automated coffee machines are expected to be the fastest-growing segment in the global coffee machine market due to their balance of control and convenience. These devices are designed with electric burr grinders and automatic dosing, and brewing systems but allow the user to change the tamping settings and the amount of milk used, making them appealing to both coffee lovers as well as busy people. They are cheaper than fully automatic machines, however, with the ever-increasing trend of home brewing and coffee drinks made from espresso, semi-automatic machines are favored. Moreover, they offer user therapy but do not require the hassle of using the manual machine, thereby the fast expansion in the market.
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North America dominates the global coffee machine market due to the region's strong coffee culture, high disposable incomes, and increasing demand for premium coffee products. Especially in the United States the market for coffee has a long-standing drinking culture which has enhanced the demand for at home and commercial coffee equipment. New developments in coffee equipment like smart machines and single-serve systems focus on consumers looking for ease of use. Furthermore, the increasing number of coffee drinkers enjoying coffee in coffee shops and cafes in the cities helps to support the commercial sector. When it comes to appeasing the consumer’s growing desire for quality and customized styles of brewing, North America is the leading and biggest market for all coffee business across the world.
Europe is the fastest-growing region in the global coffee machine market due to its rich coffee culture and evolving consumer preferences for high-quality, specialty coffee. As the quest for comfort and personalization increases among the customers, nations like Italy, Germany, and France are witnessing a growing trend in the adoption of complex brewing systems, like automated machines and semi-automated machines. The increase in coffee's popularity at home and the growing number of coffee bars and cafes accelerates the growth of both residential and commercial segments. Besides that, the demand for novel green coffee machines contributes to the expansion of the market as Europe concentrates on sustainability and green coffee solutions.
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Drivers
Rising Coffee Consumption
Driving Innovation in Smart Connectivity and Energy Efficiency
Restraints
Maintenance and Cleaning Complexity
Availability of Alternatives
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The global coffee machine market is very competitive with many players producing different types of coffee machines for different consumers. Some of these international corporations that operate in the market include Nestle (Nespresso), Keurig Dr Pepper, Philips, Breville and De’Longhi. These companies mainly rely on innovation with new features smart connectivity, ability to customize and reduce power consumption to pull many consumers. The market is also experiencing higher collaborations and mergers and acquisitions which enhance the innovation of products and widening the scope of distribution.
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As per SkyQuest analysis, in conclusion, the global coffee machine industry is experiencing significant growth, driven by increasing coffee consumption, particularly in Asia, and the rising demand for specialty beverages. Innovations in coffee machine technology, such as smart connectivity and eco-friendly designs, are further fueling market expansion.
Emphasis on convenience, level of customization and sustainability is making the advent of coffee machines necessary within the household and commercial environment. However, this market has also been shaped by a number of factors that include the complexities of maintenance, and rivalry from other coffee forms. Nevertheless, due to continuous innovation and changing tastes and behaviors of consumers, the market is anticipated to keep growing.
Report Metric | Details |
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Market size value in 2022 | USD 6.49 Billion |
Market size value in 2031 | USD 9.81 Billion |
Growth Rate | 4.7% |
Base year | 2023 |
Forecast period | (2024-2031) |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Coffee Machine Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Coffee Machine Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Coffee Machine Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Coffee Machine Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Report ID: SQMIG25E2125
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