Growing Development of Smartphone-operated Portable Coffee Makers to Drive Global Market
The global Portable Coffee Makers Market Size is expected to exhibit a solid 7.16% CAGR over the forecast period from 2019 to 2025, according to the latest research report from Market Research Future (MRFR). The global portable coffee makers market is expected to grow at a steady growth rate driven by the growing consumption of coffee and the growing development of coffee makers that can be controlled remotely via smartphone apps. These drivers are likely to enable smooth growth of the global portable coffee makers market over the forecast period. The report examines the impact of the major drivers and restraints on the global portable coffee makers market. The report also examines the impact of the COVID-19 pandemic on the global portable coffee makers market.
The growing consumption of coffee around the world is likely to remain a major driver for the global portable coffee makers market over the forecast period. According to MRFR, nearly 71% of U.S. citizens consume coffee daily. Coffee has also been a popular in Central and Western Europe, with the café culture in Europe making cafes popular and a tourist attraction in several regions. This has allowed the portable coffee makers market to grow steadily in these regions over the last few decades. The growing popularity of coffee among younger demographics is likely to remain a major driver for the portable coffee makers market in North America and Europe. Europe and North America are the leading regional markets for portable coffee makers, as consumers in these regions demand coffee regardless of where they are, leading to a growing demand for implements that can prepare coffee on the go.
The development of advanced portable coffee makers that can be operated through smartphone apps is also likely to be a major driver for the global portable coffee makers market over the forecast period. Smartphone-operated portable coffee makers can prepare various types of coffee, which can be controlled and selected via the smartphone app. Smartphone-operated portable coffee makers also allows consumers to prepare coffee before they get home, allowing them to have coffee ready for them when they get home. Such convenience has driven the demand for smartphone-operated portable coffee makers. This is likely to be a major driver for the global portable coffee makers market over the forecast period.
On the other hand, the growing prevalence of smaller, unorganized players in the market is likely to be a key restraint for the global portable coffee makers market over the forecast period.
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Competitive Leaderboard:
Leading players in the global portable coffee makers market include Wacaco Co. Ltd., Handpresso SAS, Dualit Ltd., illycaffe SpA, Robert Bosch GmbH, Hamilton Beach Brands Inc., Koninklijke Philips NV, Electrolux AB, Newell Brands, Nestle SA, and Keurig Green Mountain Inc. Major players in the global portable coffee makers market are engaged in expanding their geographical footprint by mergers and acquisitions with smaller players operating in local markets.
Segmentation:
The global portable coffee makers market is segmented based on type, category, end use, distribution channel, and region.
By type, the global portable coffee makers market is segmented into manual and automatic. The automatic segment holds a dominant share in the global portable coffee makers market and is likely to remain the leading revenue generator over the forecast period.
By category, the global portable coffee makers market is segmented into premium and mass-market.
By end use, the global portable coffee makers market is segmented into household, out of home, food service, and corporate.
By distribution channel, the market is segmented into store-based and non-store-based. The store-based segment is further sub-segmented into supermarkets and hypermarkets, specialty stores, and others. The non-store-based segment is expected to grow at a robust growth rate over the forecast period due to the growing popularity of online sales.
Regional Analysis:
Europe holds a dominant share in the global portable coffee makers market, followed by North America. Asia Pacific is likely to grow at a rapid growth rate over the forecast period.
Portable Coffee Makers Market is estimated to be valued at USD 2,468.5 Million by 2025, expanding at a CAGR of 7.16% during the forecast period.
The growth of the global portable coffee makers market is driven by the rising coffee consumption in emerging economies and increasing demand for convenience products.
The expansion of the commercial sector in Asia-Pacific and the rising adoption of innovative products are expected to offer lucrative opportunities to market players in the coming years.
Japan, China, and India are among the major coffee markets in the region due to the large population and exponential increase in coffee consumption in these countries in recent years.
Other factors such as rapid urbanization, rising per capita disposable incomes, and increasing demand for non-alcoholic beverages are expected to drive the growth of the portable coffee makers market in the region.
The growing number of unorganized and small-scale cafés, quick service restaurants, coffee shops, and local coffee chains in Asia-Pacific is expected to provide lucrative opportunities to portable coffee maker manufacturers in the coming years.The global portable coffee makers market has been segmented based on type, category, end-use, distribution channel, and region.By type, the market has been divided into manual and automatic.
The growth of the global portable coffee makers market is driven by the rising coffee consumption in emerging economies and increasing demand for convenience products.
The expansion of the commercial sector in Asia-Pacific and the rising adoption of innovative products are expected to offer lucrative opportunities to market players in the coming years.
Japan, China, and India are among the major coffee markets in the region due to the large population and exponential increase in coffee consumption in these countries in recent years.
The growing number of unorganized and small-scale cafés, quick service restaurants, coffee shops, and local coffee chains in Asia-Pacific is expected to provide lucrative opportunities to portable coffee maker manufacturers in the coming years.Segmental AnalysisThe global portable coffee makers market outlook has been segmented on the basis of type, category, end-use, distribution channel, and region.By type, the market has been divided into manual and automatic.
These products mainly consist of manual coffee makers that are ideal for household use.
The household segment accounted for the maximum market share in 2018.
