According to TechSci Research report, “Global Coffee Machines Market By Product Type, By End User, By Region, Competition, Forecast & Opportunities, 2024”, the global coffee machines market is projected to cross $17 billion by 2024, on the back of rapid urbanization, increasing young and dynamic population, which prioritizes convenience and comfort, along with rising coffee culture worldwide. Moreover, the growing trend of organizing business meetings in cafés coupled with an increasing market penetration of prominent players involved in manufacturing coffee machines in developing countries are other significant factors expected to positively influence the growth of coffee machines market in near future. However, limited government regulations in developing countries that cover electric kitchen appliances, leading to increase in trade of false/imitation products in the market, may hamper the growth of coffee machines market during the forecast period.
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The global coffee machines market is categorized into three major product types, namely Drip/Filter Coffee Machines, Espresso Coffee Machines and Pod/Capsule Coffee Machines. Espresso coffee machines accounted for majority of value share of the global market for coffee machines in 2018 owing to high product preference for commercial use and continuous product innovations in the category. In terms of region, the global coffee machines market is categorized into North America, Asia-Pacific, Europe, Middle East & Africa and South America. The market for coffee machines in Europe region was the largest in 2018, in terms of value, followed by North America and Asia-Pacific. The growth of European market for coffee machines can be majorly attributed to presence of major manufacturers in the region and availability of a variety of products. Germany, Italy & Switzerland account for over two-thirds of world professional espresso machines’ production, particularly of high price range. High purchasing power of European consumers and rising demand for fully automatic espresso machines in commercial sector is driving coffee machines market in the region.
In 2018, among the countries, the United States coffee machines market accounted for the largest value share in the global coffee machines market. The country is expected to maintain its dominance throughout the forecast period due to wide acceptance of technologically advanced products and robust distribution channel of major industry players across the country. The global coffee machines market is fragmented with top five market players accounting for less than 35% of value share in the market. Some of the major players operating in global coffee machines market are De’Longhi S.p.A, Groupe SEB, LUIGI LAVAZZA S.p.A., Koninklijke Philips N.V, JURA Elektroapparate AG, Morphy Richards, BSH Home Appliances, Keurig Dr Pepper Inc., Rancilio Group S.p.A., Nestlé S.A., among others.
“Global coffee machines market is anticipated to register a steady growth over the course of next five years. Constant product innovations and integration of technology in residential as well as commercial coffee machines are the major factors driving the global market. Moreover, rising trend of providing customizable coffee machines and expanding distribution channel of major market manufacturers have gradually increased the customer base for coffee machines, thereby having a positive impact on product penetration across the globe.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
Browse 19 market data Tables and 133 Figures spread through 153 Pages and an in-depth TOC on "Global Coffee Machines Market" @ https://www.techsciresearch.com/report/global-coffee-machine-market/1260.html
“Global Coffee Machines Market By Product Type, By End User, By Region, Competition, Forecast & Opportunities, 2024”, has evaluated the future growth potential of global coffee machines market and provides statistics and information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global coffee machines market.
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