Vending Machine Market Size, Share & Analysis Report, 2021-2027
The global Vending Machine market gathered revenue around USD 19.9 Billion in 2020 and market is set to grow USD 25.45 Billion by the end of 2027 and is estimated to expand at a modest CAGR of 6.9% during the prediction period 2021 to 2027.
Report Coverage
| Report Highlights | Details |
| Market Size | USD 25.45 Billion by 2027 |
| Growth Rate | CAGR of 6.9% From 2021 to 2027 |
| Base Year | 2020 |
| Historic Data | 2017 to 2020 |
| Forecast Period | 2021 to 2027 |
| Report coverage | Growth Factors, Revenue Status, Competitive Landscape, and Future Trends |
| Segments Covered | Type, Application, Technology,Sales Channel and Regional |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
| Companies Mentioned | SANDENVENDO AMERICA, INC., Crane Merchandising Systems, AZKOYEN GROUP, FUJI ELECTRIC CO., LTD, Fastcorp Vending LLC, Royal Vendors, Inc., Seaga Manufacturing Inc, Jofemar Corporation., Selecta TMP AG, and Bianchi Industry |
A vending machine is used to dispense the items that are stored inside it, such as packaged food, beverages, and tobacco products, in exchange with inserted coins or tokens. Dispensing is an automated process, which requires no manpower and saves precious time of humans. These machines are normally seen in fast-moving cities due to fast-paced life. Vending machine not only dispenses items but also engages shoppers with the help of touch-screen controls, video, audio, scent, gesture-based interaction, and cashless payment. Furthermore, these products have multiple applications in hotels& restaurants, corporate offices, public places, and others. Increase in demand for food vending machines in offices/institutions, rise in consumption of convenience food items, and the adoption of smart customer service technologies in several food categories are the driving factors for the growth of the market.
The demand for machines has increased during the past few years and with the introduction of cashless payment systems, smart technology solutions are gaining momentum on a large scale across the globe. Moreover, increasing urbanization and rising disposable income have fuelled the growth of the vending machine market. Governments of various regions restricted the use of food & beverages vending machines in many places, such as schools and colleges, thereby limiting the demand for these machines. In addition, high initial installation cost of vending machine restraints the growth of the global market.
Increasing popularity of vending machines in developed and developing economies and convenience offered to the consumers are the factors augmenting the demand for vending machines. Changing buying habits of customers and demand for a more convenient method for buying food & beverages further propel the growth of the market. Moreover, rising need to expand virtual space in a retail outlet is driving the growth of the vending machine market globally.
This research report purposes at stressing the most lucrative growth prospects. The aim of the research report is to provide an inclusive valuation of the Vending Machine market and it encompasses thoughtful visions, actualities, industry-validated market findings, historic data, and prognoses by means of appropriate set of assumptions and practice. Global Vending Machine market report aids in comprehending market structure and dynamics by recognizing and scrutinizing the market sectors and predicted the global market outlook.
COVID-19 Impact Assessment on Market Landscape
The report comprises the scrutiny of COVID-19 lock-down impact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilar across various industry verticals. The research report offers present short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lasting tactics for recovery and by region.
Vending Machine market report empower readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplishes sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.
Competitive Rivalry
Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
Some of the prominent players in the Vending Machine Market include: SANDENVENDO AMERICA, INC., Crane Merchandising Systems, AZKOYEN GROUP, FUJI ELECTRIC CO., LTD, Fastcorp Vending LLC, Royal Vendors, Inc., Seaga Manufacturing Inc, Jofemar Corporation., Selecta TMP AG, and Bianchi Industry.
Unravelling the Critical Segments
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects including product type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2027 and covers subsequent region in its scope:
Market Segments
By Geography
North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)
Highlights of the Report:
Research Methodology
In the study, a unique research methodology is utilized to conduct extensive research on the growth of the Vending Machine market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the conclusions.
Secondary resources referred to by analysts during the production of the Vending Machine market study are as follows - statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of this report as a primary resource.
Comprehensive information acquired from primary and secondary resources acts as a validation from companies in the market, and makes the projections on the growth prospects of the Vending Machine markets more accurate and reliable.
Secondary Research
It involves company databases such as Hoover's: This assists us recognize financial information, structure of the market participants and industry competitive landscape.
The secondary research sources referred in the process are as follows:
Primary Research
Primary research includes face-to face interviews, online surveys, and telephonic interviews.
Industry participants involved in this research study include:
Key Points Covered in Vending Machine market Study:
Cross-segment Market Size and Analysis for Mentioned Segments
Additional Company Profiles
(Upto 5 With No Cost)
Additional Countries (Apart
From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers