The coffee machines market has shown steady growth, increasing from $11.42 billion in 2023 to $11.95 billion in 2024, with a compound annual growth rate (CAGR) of 4.7%. This growth in the historical period is due to the introduction of espresso machines, the popularity of drip coffee makers, pioneering brands, patents, innovations, and the prevalence of single-serve pod systems. Looking ahead, the market is forecasted to grow significantly, reaching $14.62 billion by 2028 at a CAGR of 5.2%. This growth is driven by innovative marketing strategies, premiumization trends, customization, market expansion in developing regions, and the growing e-commerce sector. Noteworthy trends include smart and connected machines, sustainability initiatives, single-serve and pod-compatible machines, specialty coffee brewing, and integrated grinder systems.
Major Driver In The Coffee Machines Market
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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Coffee Machines Market Competitive Landscape
Robert Bosch GmbH, Koninklijke Philips N.V., BSH Hausgeräte GmbH, Stanley Black & Decker India Private Limited, AB Electrolux, Newell Brands Inc., Groupe SEB Krups, Nestlé Nespresso S.A., Keurig Green Mountain Inc., De’Longhi Appliances S.r.l., Melitta Group KG, WMF Group, Philips India Limited, JURA Elektroapparate AG, Tsann Kuen Enterprise Co. Ltd., Hamilton Beach Brands Inc., Bear Electric Appliance Co. Ltd., illycaffè S.p.A., Zojirushi Corporation, Usha International Ltd., Bajaj Electricals Limited, TTK Prestige Limited, Preethi Kitchen Appliances Pvt. Ltd., La Cimbali S.p.A., Rancilio Group S.p.A., Coffee Day Global Limited, Foshan Shunde Colia Hardware Electric Appliance Co. Ltd., Panasonic Corporation Malaysia Sdn. Bhd., CMA Astoria S.p.A., LA Spaziale S.p.A.
Key Coffee Machines Market Trend
Smart coffee machines with Bluetooth or Wi-Fi connectivity are a key trend driving the growth of the coffee machines market. These smart coffee machines can be accessed via smartphones, allowing users to monitor and send commands from anywhere in the house. Most coffee makers have software to configure brew settings and plan brew times. For instance, in July 2021, Keurig Dr. Pepper introduced BrewID Smart Coffee Market Technology for a coffee machine with WiFi connectivity. Keurig's BrewID technology connects to clients' smartphones, enabling control over temperature, size, and auto-brew controls for brewery customization. Therefore, smart coffee machines with Bluetooth or Wi-Fi connectivity are expected to continue this trend in the coffee machines market.
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Coffee Machines Market Segmentation
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
By Geography:The regions covered in the coffee machines market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
Asia-Pacific was the largest region in the coffee machines market in 2023.
The Coffee Machines Global Market Report 2024 furnishes information about the global coffee machines market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
