The Coffee Machines Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Coffee Machines Global Market Report 2024, The coffee machines market size has grown steadily in recent years. It will grow from $11.42 billion in 2023 to $11.95 billion in 2024 at a compound annual growth rate (CAGR) of 4.7%. The growth in the historic period can be attributed to growing introduction of espresso machines, popularity of drip coffee makers, pioneering coffee machine brands, patents and innovations, single-serve pod systems.
The coffee machines market size is expected to see strong growth in the next few years. It will grow to $14.62 billion in 2028 at a compound annual growth rate (CAGR) of 5.2%. The growth in the forecast period can be attributed to innovative marketing and branding, premiumization trend, customization and personalization, market expansion in developing regions, e-commerce growth. Major trends in the forecast period include smart and connected machines, sustainability and eco-friendly designs, single serve and pod-compatible machines, specialty coffee brewing, integrated grinder systems.
The growing popularity of instant non-alcoholic beverages such as coffee in restaurants, and office cafeterias propels the growth of the coffee machines market. The coffee machines reduce the time and effort required in preparing a cup of coffee when used in coffeehouses, and office cafeterias. The increasing need for non-alcoholic beverages drinks among millennials, consumer awareness toward low sugar and non-alcoholic drinks, busy work schedules, and changing consumer taste are a few of the reasons that have attributed to the rise in the popularity of instant non-alcoholic beverages such as coffee. Due to the increasing demand for coffee, coffee provider companies are investing in appropriate equipment and innovating ways such as coffee capsules to offer better-tasting coffee as more profitable options. The increasing use of coffee machines in restaurants and office cafeterias to fulfill the increased demand for instant non-alcoholic beverages such as coffee increases the demand for coffee capsules, thus increasing the growth of the coffee machines market.
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The coffee machines market covered in this report is segmented –
1) By Type: Filter Coffee Machines, Pod/Capsule Coffee Machines, Traditional Espresso Machines, Bean-to-Cup Coffee Machines
2) By Product: Drip Filter, Capsule, Espresso, Bean-to-Cup
3) By End-User: Household, Commercial
Smart coffee machines with Bluetooth or Wi-Fi connectivity are a key trend driving the growth of the coffee machines market. The smart coffee machines can be accessed via smartphones, and users can monitor them from anywhere in the house and can also send smartphone commands. Most coffee makers have their software to configure the brew settings and plan brew times. For instance, in July 2021, Keurig Dr. Pepper, a US-based company operating in beverage brewing systems for home and commercial use, introduced BrewID Smart Coffee Market Technology for a coffee machine that enables WiFi connectivity. Keurig's new BrewID technology can be connected to clients' smartphones to enable control over temperature, size, and auto-brew controls, for the customization of the brewery. Therefore, smart coffee machines with Bluetooth or Wi-Fi connectivity are expected to continue this trend in the coffee machines market.
The coffee machines market report table of contents includes:
1. Executive Summary
2. Coffee Machines Market Characteristics
3. Coffee Machines Market Trends And Strategies
4. Coffee Machines Market - Macro Economic Scenario
5. Global Coffee Machines Market Size and Growth
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31. Coffee Machines Market Other Major And Innovative Companies
32. Global Coffee Machines Market Competitive Benchmarking
33. Global Coffee Machines Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Coffee Machines Market
35. Coffee Machines Market Future Outlook and Potential Analysis
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