Global Automatic Coffee Machine market was valued at US$45.576 billion in 2019. Automatic coffee machines are used at homes, in offices, cafés, restaurants, and other commercial places to make a wide variety of coffee beverages. Rising disposable incomes and living standards coupled with increasing urbanization has led to a rise in the consumption of coffee. With hectic work life, people are increasing their coffee consumption so as to boost their energy level attributed to the high level of stimulant caffeine present in coffee. Thus, the rising working population is fuelling the market growth of automatic coffee machines globally. Rising awareness about the health benefits of consuming coffee is another major driver of the automatic coffee machine market. Coffee consumption in the right amount significantly lowers the risk of liver cancer and Parkinson’s diseases. As such, people are consuming more and more coffee, both at home and workplace, thus boosting the demand for automatic coffee machines which allow to make various coffee beverages easily and quickly. The rise in the number of quick-service restaurants and cafés around the world is also driving the demand for automatic coffee machines for faster preparation of coffee drinks. Market players are continuously adding new products into their portfolio in order to keep up with the growing demand for innovative automatic coffee machines. As such, manufacturers are focusing on integrating advanced technological features including touchscreen and Wi-Fi, making it convenient for end-users to use these machines. With the ongoing trend of rising coffee consumption, market players are adopting growth strategies such as acquisitions and partnerships in order to expand their market reach, thereby positively impacting the automatic coffee machine market growth.
However, the recent COVID-19 global pandemic outbreak has negatively impacted the market growth of automatic coffee machines in the short term. Reduced household incomes due to business shutdowns has severely impacted the demand for automatic coffee machines. Moreover, out-of-home consumption is declining significantly due to partial and full lockdown across the globe in order to prevent the spread of the virus.
The Global Automatic Coffee Machine market has been segmented on the basis of type, sales channel, and geography. By type, the Global Automatic Coffee Machine market has been segmented as dry wipes and wet wipes. The Global Automatic Coffee Machine market has been also segmented by sales channel as online and offline.
Commercial to hold a substantial market share
By application, the commercial segment accounted for the major market share in 2019 and will remain at its position till the end of the forecast period. This dominance is attributed to the already well-established coffee specialty shops across various regions such as Starbucks and Barista. These international specialty coffee shops are further expanding their reach in emerging markets. For example, in 2018, Starbucks Coffee Co. entered into an agreement with a multi-brand restaurant operator, SouthRock, to license Starbuck retail operations in the country. However, the residential segment will witness a significant CAGR during the forecast period as there is a growing demand among consumers to make freshly brewed coffee at homes. Moreover, automatic coffee machine manufacturers are also including cost-effective products into their product portfolio which is also encouraging people to buy automatic coffee machines for home use, thereby bolstering the overall market growth.
APAC to witness a noteworthy CAGR during the forecast period
Geographically, the global Automatic Coffee Machine market has been segmented as North America, South America, Europe, Middle East and Africa, and Asia Pacific. Europe is the major market for the automatic coffee machine. In the European region, the market is poised to grow on account of the rising consumption of coffee coupled with growing trends of specialty cafes in numerous countries. Furthermore, the growing coffee culture in counties such as Ireland, Hungary, and the Czech Republic also bolster the market growth in the region in the coming years. North America also holds a decent market share owing to the rising coffee consumption in the U.S. and Canada. According to the United States Department of Agriculture (USDA) statistics, the country is the second-largest importer of coffee beans with suppliers include Brazil, Colombia, Vietnam, and Guatemala. The presence of a large number of coffee specialty stores across the North American region is another major factor behind the growing demand for automatic coffee machines. The market growth in the Asia Pacific is majorly being driven by the increasing middle-class population across many countries. The increasing influence of western culture on the lifestyle and taste of people is also shaping the automatic coffee machine market in this region. Moreover, the expansion of global coffee shops and cafés in countries like India, Australia, and Thailand is further contributing to the growing demand for automatic coffee machines in the region.
Prominent key market players in the Global Automatic Coffee Machine market include Koninklijke Philips N.V., Melitta Professional Coffee Solutions GmbH & Co. KG, JURA Vertrieb (Schweiz) AG, De’Longhi Appliances S.r.l., WMF Group GmbH, Morphy Richards, Panasonic Malaysia Sdn Bhd., Behmor, Inc., BSH Home Appliances Corporation, and Keurig Green Mountain, Inc. These companies hold a noteworthy share in the market on account of their good brand image and product offerings. Major players in the Global Automatic Coffee Machinemarket have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last two years.