Global Coffee Machines Market Segments
The global coffee machines market is expected to decline from $5.9 billion in 2019 to $5.4 billion in 2020 at a rate of -8.9%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing and remote working, and the closure of industries and other commercial activities. The entire supply chain from production to international trade has been impacted. The market is then expected to recover and reach $6.2 billion in 2023 at a rate of about 4.7%. The growing popularity of instant non-alcoholic beverages such as coffee in restaurants, office cafeterias propel the growth of the coffee machines market. However, increasing awareness on the adverse effects of excessive consumption of caffeine is expected to limit the growth of the coffee machines market in the forecast period.
The coffee machines market consists of sales of coffee machines and related services that are used in hotels, restaurants, cafes, and offices. Coffee machines are small electrical machines used for coffee making.
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The global coffee machines market is further segmented based on type and geography.
By Type: Filter Coffee Machines; Pod/Capsule Coffee Machines; Traditional Espresso Machines; Bean-to-Cup Coffee Machines
By Product: Drip Filter; Capsule; Espresso; Bean-to-Cup
By End-User: Household; Commercial
By Geography: The global coffee machines market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the North American coffee machines market accounts for the largest share in the global coffee machines market.
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Trends In The Coffee Machines Market
Smart coffee machines with Bluetooth or Wi-Fi connectivity is a key trend driving the growth of the coffee machines market. Smart coffee machines can be accessed via smartphones, and users can monitor them from anywhere in the house and can send commands. Most coffee makers have their own software to configure the brew settings and plan brew times.
Coffee Machines Global Market Report 2020 is one of a series of new reports from The Business Research Company that provides coffee machines market overviews, analyzes and forecasts coffee machines market size and growth for the global coffee machines market, coffee machines market share, coffee machines market players, coffee machines market size, coffee machines market segments and geographies, coffee machines market trends, coffee machines market drivers and coffee machines market restraints, coffee machines market’s leading competitors’ revenues, profiles and market shares. The coffee machines market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.