Vending Machine Market to Surpass US$ 12.57 Billion by 2022 as Manufacturers Foray into Retail Sector

Vending Machine Manufacturers to Introduce Smart Technology Integrating AI to Up their Game

The vending machines market sudy by Fact.MR offers unbiased analysis for the upcoming decade. The report further dives deep into the factors shaping the growth in the market such as strategies, opportunities, and key trends. To offer more insights in a comprehensive way, the market is segmented on the basis of vending type, use case, and key regions.

NEW YORK, Aug. 23, 2022 /PRNewswire/ -- The global vending machines market is anticipated to increase at a robust 5.7% CAGR between 2021 and 2031. As per the study, the market surpassed a value of US$12.57 billion in 2021.

Growing consumption of convenient and dispense goods including food, drinks, cigarettes, and other items is pushing the demand for vending machines. In addition to workplaces and institutional buildings, residents' homes, restaurants and nightclubs also employ vending machines.

The retail industry is driven by supply, therefore now is a good moment for large-scale grocers to review their long-term business plans. As the pace of technology continues to astound the world, expansion of luxury dining and travel sectors is anticipated to fuel market development.

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Furthermore, increased spending on opulent extras, especially in countries such as the U.S, and the U.K., is improving the presence of restaurants and hotels. Consequently, this is boosting the sales of vending machines as hotels and restaurants like to keep their revenue up with some extra dispense goods and food products.

Further, with growing presence of motels on highways and pitstops in countires such as India, the U.S., Japan, and the U.K., the sales of vending machines have shot up at a rapid pace. As per the study, Japan is anticipated to lead the East Asia market with the region accounting for around 3/10^th of demand share in the market.

Another factor boosting the market is growing poipularity of vending machines in companies and schools. Hence, key players are collaborating with retail-centric arenas such as schools, universities, corporates, and hotels to capitalize on the existing trend, fuelling the growth in the market.

Key Takeaways:

• In terms of use case, shopping malls & retail stores are expected to witness fastest growth at 5% CAGR over the forecast period.
• The vending machines market is anticipated to expand at a positive 6% rate during the projected period.
• East Asia is expected to hold more than 30% of demand share in vending machines market.
• Nearly 23% of the market is controlled by the top 5 companies, including Crane Merchandising System, The Vendo Group, Selecta TMP AG, Fuji Electric, and Azkoyen Group.
• Based on vending type, food products vending segment is expected to witness highest growth through 2022 & beyond.

Growth Drivers:

• Advent of intelligent vending machines integrated with artificial intelligence will facilitate the growth in the market
• Growing consumption of convenient food products, especially in corproates, with boost the sales in in corporate offices
• Expansion of retail sector in countries such as India, China, and Japan will aid the growth in East and South Asia vending machines market

Restraints:

• The rise in theft and vandalism will be a major challenge for the vending machine market players.
• The setup cost of vending machines are too high that will require more investments. This is likely to limit the sales in low-and middle-income countries.

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Competitive Landscape:

With growing demand for vending machines, key companies are producing the products in bulk to capitalize on the ongoing trend. These players are also collaborating with corporate offices, univeristies, and hotels to expand their customer base and gain revenue.

Meanwhile, some of the companies are integrating advanced technologies such as smart vending machines to up their game and expand their product portfolio.

For instance,

• In December 2021, ContextLogic Inc., leading mobile ecommerce platforms, collaborated with Nasdaq on the installation of a co-branded vending machine shopping experience at 4 Times Square in the U.S.
• In March 2022, One Step Vending Corp., specializing in emerging industries acquisitions with an emphasis in the self-serve vending market, announced its joint venture with Foundation Farms 2021, Corp.

Key Companies Profiled by Fact.MR

• Bianchi Industry SpA
• Azkoyen SA
• Compass Group Pic
• Crane Co
• Digital Media Vending International LLC
• Royal Vendors Inc
• Azkoyen SA.
• FAS International Sri
• Fuji Electric Co Ltd.

More Valuable Insights on Vending Machines Market

In the latest study, Fact.MR offers a detailed study on global vending machines market for the forecast period of 2020 to 2030. This study also highlights key drivers promoting the sales of vending machines through detailed segmentation as follows:

By Vending Type:

• Beverages Vending
• Food Products Vending
• Confectionery Products Vending
• Others Products Vending

By Use Case:

• Corporate offices
• Shopping Malls and Retail Stores
• Educational Institutions
• Hotels & Restaurants
• Others

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia & Oceania
• MEA

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Key Questions Covered in the Vending Machines Market Report

• What is the projected value of the vending machines market in 2020?
• At what rate will the global vending machines market grow until 2030?
• Which are the factors hampering the growth in the vending machines market?
• Which region is expected to lead in the global vending machines market during 2020-2030?
• Which are the factors driving the vending machines market during the forecast period?
• What is the expected market value of the vending machines market during the forecast period?

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Beverage Vending Machine Market: Rising demand for beverage vending machines on the back of growing consumption of packaged and conveneient food items is the primary factor fueling the growth. As per the study, the market is anticipated to witness an upward trend in the retail sector over the forecast period (2022-2032).

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About Fact.MR

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