Vending Machine Market Size, Share & Trends Report

Vending Machine Market Size, Share & Trends Analysis Report By Application (Offices, Commercial Places), By Payment Mode (Cashless, Cash), By Region (MEA, APAC, North America), And Segment Forecasts, 2019 - 2025

  • Published Date: Aug, 2019
  • Base Year for Estimate: 2018
  • Report ID: GVR-3-68038-465-9
  • Format: Electronic (PDF)
  • Historical Data: 2015 - 2017
  • Number of Pages: 80

Industry Insights

The global vending machine market size was valued at USD 30.30 billion in 2018 and is expected to register a CAGR of 9.4% from 2019 to 2025. Growing demand for on-the-go snacks, drinks, etc. due to hectic lifestyle is boosting the product sales. The growth can also be attributed to the machines ability to deliver goods quickly making it extremely convenient option for consumers.

Also, flexibility, in terms of location, i.e. indoor or outdoor coupled with the option to operate the machines 24/7 without any manual intervention makes them ideal for use in offices and commercial and public areas. Vending machines are highly effective as they help save labor costs, which is also driving their demand.

U.S. vending machine market

Technological innovations, such as face and voice recognition, interactive display system, and big data integration, making the product easier and more convenient to use will also have a positive impact on the demand. With such advancements, vending machines can now deliver custom-made food items, salads etc. apart from hot and cold beverages. For instance, in 2018, Pizza Deli 24/7 introduced a pizza vending machine that offers pizza in five flavors.

Moreover, these machines are considered as the most lucrative channel for sales at places like airports and train and bus stations due to increasing impulse purchases. However, strict regulations regarding the sales of unhealthy, junk food and tobacco products in public places and majority of commercial spaces is expected to restrain the growth of this market. Fixed product prices may also act as a major challenge for the industry.

Application Insights

Based on application, the vending machine market is segmented into commercial places, offices, public places, and others. Office application accounts for the largest market share and will be the fastest-growing segment over the forecasted period. Growing corporate and manufacturing sectors across the globe is the key factor driving the product demand.

Vending machines are widely used in offices to save space and costs and to maintain cleanliness. Commercial places application is also expected to have significant growth over the forecasted period owing to a rising number of commercial projects across the globe. These machines are widely used in hotels, clubs, colleges, hospitals, etc.

Payment Mode Insights

Based on payment mode, the market is segmented into cash and cashless. Cash payment mode is estimated to be the largest segment over the forecasted period as majority of the existing vending machines have cash as the only payment option as installation of devices featuring cashless options are relative expensive. However, variable pricing fails in vending machines with cash as payment mode acts as a major restraining factor for the segment growth.

Global vending machine market

Thus, cashless payment mode segment is estimated to witness the fastest CAGR over the forecasted period. Also, many manufactures are partnering with several payment service providers to meet the growing demand for cashless payment option. For instance, American Food and Vending formed a partnership with PayRange to install contactless payment mode on their vending machines.

Regional Insights

North America is estimated to be the largest regional market over the forecasted period due to factors, such as changing lifestyles and high demand for Ready-to-Eat (RTE) meals. On the other hand, Asia Pacific is estimated to be the fastest-growing region from 2019 to 2025. Japan is the most lucrative country in the regional market. Growing commercial and corporate sectors in APAC are also contributing to the product demand.

Vending Machine Market Share Insights

Some of the key companies include Azkoyen Group; Cantaloupe Systems; Westomatic Vending Services Ltd.; Royal Vendors, Inc.; Glory Ltd.; Sanden Holding Corp.; Seaga Manufacturing, Inc.; Orasesta S.p.A.; Sellmat S.r.l.; and Fuji Electric. A lot of companies, such as Coca-Cola and L’Oréal, are using vending machines for promotional purposes by collaborating with major manufacturers. Coca-Cola has experimented with vending machines as an interactive channel for promotion and marketing.

Report Scope

Attribute

Details

Base year for estimation

2018

Actual estimates/Historical data

2015 - 2017

Forecast period

2019 - 2025

Market representation

Revenue in USD Million and CAGR from 2019 to 2025

Regional scope

North America, Europe, Asia Pacific, Central & South America, and MEA

Country scope

U.S., Italy, U.K., China, Japan, Brazil, and Saudi Arabia

Report coverage

Revenue forecast, company share, competitive landscape, growth factors and trends

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Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, Grand View Research has segmented the global vending machine market report on the basis of application, payment mode, and region:

  • Application Outlook (Revenue, USD Million, 2015 - 2025)

    • Commercial Places

    • Offices

    • Public Places

    • Others

  • Payment Mode Outlook (Revenue, USD Million, 2015 - 2025)

    • Cash

    • Cashless

  • Regional Outlook (Revenue, USD Million, 2015 - 2025)

    • North America

      • U.S.

    • Europe

      • Italy

      • U.K.

    • Asia Pacific

      • China

      • Japan

    • Central & South America

      • Brazil

    • Middle East & Africa

      • Saudi Arabia

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