Published Date: 20-Jan-2023
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According to a new report, published by KBV research, The Global Coffee Machine Market size is expected to reach $8.7 billion by 2028, rising at a market growth of 5.3% CAGR during the forecast period.
The Commercial segment acquired maximum revenue share in the Global Coffee Machine Market by Application in 2021 thereby, achieving a market value of $5.3 billion by 2028. Rapid urbanization has positively impacted the growth in the number of cafes and restaurants around the world. This, as a result, has increased the demand for coffee machines significantly. In addition, the widening workplace culture is rapidly growing the demand for coffee, as coffee has a positive impact on office camaraderie.
The Pod/Capsule segment is showcasing a CAGR of 5.8% during (2022 - 2028). These types of machines offer convenient workability along with consistent brewing. They can also keep the coffee warm for 30 minutes after its preparation without cooking the coffee. Most pod coffee machines also lie within the economical price range and, as such, are favored by middle-class populations. In addition, the growing number of manufacturers developing sustainable coffee pods is further boosting the demand for these machines. Consequently, this has propelled the growth of the segment.
The Europe market dominated the Global Coffee Machine Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $3 billion by 2028. The Asia Pacific market is experiencing a CAGR of 5.8% during (2022 - 2028). Additionally, The North America market would display a CAGR of 5.1% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/coffee-machine-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of AB Electrolux (Electrolux), Koninklijke Philips N.V., Hamilton Beach Brands, Inc. (Hamilton Beach Brands Holding Company), Robert Bosch GmbH (BSH Home Appliances Corporation), Breville Group Limited, Newell Brands, Inc. (Mr. Coffee), Whirlpool Corporation, Keurig Dr Pepper, Inc. (Keurig Green Mountain, Inc.), Schaerer AG (WMF) (Groupe SEB ), and Glen Dimplex Europe Holdings Limited (Morphy Richards)
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