Vending Machines Market

Vending Machines Market Size

As per the latest market research report, the size of the vending machine market was estimated at the US $ 12.34 billion over the forecast period 2019 – 2023 and is expected to grow significantly over the forecast period by 2023.

Vending Machines Market Overview

The global vending machine market is expected to have decent growth prospects due to reduced reliance on retailers, lower costs and the need for a continuous supply of goods and services. The vending machine offers food products, beverages and other products even when the points of sale are closed. They help improve profit margins and reduce labour costs and downtime. It is planned to increase the range of products such as gold bars and perfumes, banknotes, stationery, ink injectors at school, etc., which provide positive means for market growth.

Growth Drivers, Challenges and Opportunities - Vending Machines Market

It is estimated that the increasing use of vending machines in the industrial and commercial sectors for everyday needs as well as food and beverage products is driving market demand. The vending machine in the industrial sector allows the optimal allocation of adhesive tapes and other engineering products. Its use in public places such as airports, train stations for perfumes and fabrics, etc., should further stimulate the market. The vending machine reduces the waste of these products daily and can be considered as the future of the retail market worldwide.

Increasing regulations against junk food and tobacco use can hamper the vending machine market. The cost of rental space, low return on investment (ROI) and low operating costs prevent companies from investing in the vending machines. Cashless payment by credit card, debit card, smartphone, mobile and near-field communications is increasing the ATM market. The construction of vending machines for the blind and disabled could be a future opportunity for manufacturers.

Geographical Insights of Vending Machines Market

The vending machine market has experienced significant growth in the Asia Pacific, Europe and Latin America and is expected to grow significantly over the next seven years. In 2016, North America had the largest share of the regional market in terms of revenues, accounting for more than 41% of the overall market, as most OEMs are based in this region.

The Asia-Pacific region is expected to experience the fastest growth in the market, with a CAGR of 10.3% over the forecast period. In addition, countries such as China and Japan are home to many OEMs, which promotes regional growth.

Few of the Key Players dominating the Vending Machines Market Profiled in the Report are:

• Azkoyen Group
• Crane
• Fuji Electric
• Glory
• Sanden Holdings Corporation

This research report includes following segmentation for the Vending Machines Market size and forecast 2023

Vending Machines Market - By Type

• Hot Drinks
• Snacks
• Bottled Drinks
• Others

Vending Machines Market - By Products

• Low-end Vending Machines
• Intelligent Vending Machines

Vending Machines Market - By Application

• Point of View
• It Comprises QSR
• Shopping Malls
• Retail Stores
• Offices
• Public Transit

Vending Machines Market – By Region

• North America                                                

  • United States                               
  • Canada                                         

• Europe                                                                                  

  • United Kingdom                                           
  • Germany                                      
  • France                                          
  • Italy                               
  • Spain                                             

• Asia-Pacific                                                     

  • China                                            
  • India                                             
  • Japan                                            
  • South Korea                                 

• Latin America                                                                             

  • Brazil                                            
  • Argentina                                     
  • Mexico                                          

• Middle-East & Africa                                                      

  • Middle-East
  • Africa