Retail Vending Machine Market Size, Share & Trends Report

Retail Vending Machine Market Size, Share & Trends Analysis Report By Type (Beverage, Food Vending Machines), By Payment Mode (Cash, Cashless), By Application (Offices, Public Places), And Segment Forecasts, 2022 - 2030

  • Report ID: GVR-3-68038-465-9
  • Number of Pages: 100
  • Format: Electronic (PDF)

Research Methodology

A three-pronged approach was followed for deducing the retail vending machine market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for retail vending machine market to gather the most reliable and current information possible.

  • We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
  • We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
  • We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
  • We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
  • We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of retail vending machine market data depending on the type of information we’re trying to uncover in our research.

  • Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

  • Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

  • Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

  • Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

  • Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

  • Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

  • This step also entails the finalization of the report scope and data representation pattern.

  • Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Retail Vending Machine Market Categorization:

The retail vending machine market was categorized into four segments, namely type (Food, Beverage, Games/Amusement, Tobacco, Candy & Confectionery, Beauty & Personal Care, Ticket), payment mode (Cash, Cashless), application (Commercial Places, Offices, Public Places), and regions (North America, Europe, Asia Pacific, Central & South America, Middle East & Africa).

Segment Market Methodology:

The retail vending machine market was segmented into type, payment mode, application, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

  • Demand estimation of each product across countries/regions summed up to from the total market.

  • Variable analysis for demand forecast.

  • Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

  • Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

  • Used extensively for new product forecasting or analyzing penetration levels.

  • Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

  • Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

  • This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The retail vending machine market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into twelve countries, namely, the U.S.; Canada; Germany; the UK.; France; China; India; Japan; Brazil; Argentina; UAE; and South Africa

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Retail vending machine market companies & financials:

The retail vending machine market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

  • Azkoyen Group -  Azkoyen Group, Spanish multinational group was founded by Luis Troyas Osés in 1945 and is now headquartered in Peralta, Navarra. The company offers payment solutions, access control, and vending machines. After spending more than several decades in the industry, they adopted advanced technology and launched the most compact automatic coffee machine Vitro S1 in 2022. The company is listed on the Madrid Stock Exchange and has around 800 employee’s strength. Azkoyen Vending Systems is the vending division of Azkoyen Group. It specializes in the design, manufacture, and marketing of technology solutions for payment systems, vending machines, and security & access control systems. To date, the company serves 95 countries and acquires almost 83% of its revenue through vending machine sales in foreign countries. Some of their products include Vitro, The Excel and Mini-Excel series by Coffetek, Novara, Zen, Zintro, Zensia, Mistral+, Palma+, Palma B, Vendtech 600, and the most recent one named as PPE.  

  • Cantaloupe Systems - Cantaloupe Systems, headquartered in San Francisco, California, U.S.  was founded by Mandeep Arora and Anant Agarwal in 2002. Cantaloupe Systems provides cloud-based technologies that deliver integrated end-to-end solutions for cashless payments, dynamic route scheduling, real-time pre-kitting, merchandising, and inventory administration for the retail industry. Cantaloupe Systems was acquired by USA Technologies in November 2017.  The founders estimate Cantaloupe Systems’ market opportunity at over USD 1 billion. This estimate is based on a growing worldwide base of 15 million vending machines, of which fewer than 6% have been automated. Cantaloupe has a client base of 200 and offers services to about 65,000 machines. The company plans to pursue growth by building on its Seed technology. It recently launched the Seed Cashless device, which is an added feature that transitions technology to a true Seed platform. They encourage digital modes of payments through loyalty programs or offers which often results in an immediate increase in revenue for business. Their offerings include Seed Pro, Seed Office, Seed Delivery, and Seed Markets as well.  

  • Westomatic Vending Services Limited -  Westomatic Vending Services Limited was founded by Mr. and Mrs. Brinsley in 1966. At the start, it was known for refurbishing vending machines which engaged in the activity of supplying and distributing vending machines, ingredients, and support services in the areas of South England. In the 1980s they started manufacturing vending machines. This included a wide range of machines used for coffee, tea, and snacks. In addition, they made water chillers and healthy vending machines as well. The company is now headquartered in Newton Abbot, Devon. The company now manufactures hot drink machines, bean-to-cup coffee machines, and water dispensers, as well as snack vending and chilled drink vending solutions. Westomatic has developed a strong reputation for innovation and excellence. The company’s state-of-the-art manufacturing plant employs a skilled workforce who take pride in delivering high-quality vending machines in their own fleet of delivery vehicles, to each and every customer. Their product range includes sigma touch, sigma café, sigma simplicity, eco encore, new H2O, and others.  

  • Royal Vendors, Inc.  -  Royal Vendors, Inc. is one of the key players of the market and known for the design and manufacture of high-quality cold-drink vending machines. The company was founded in 1987 and is now headquartered in Kearneysville, West Virginia, U.S. Royal Vendors is the global leader and has Royal vending equipment in more than 30 countries around the world. They are considered as one of the significant choices ofsoft drink companies, vending operators, and distributors. The company’s product differentiation is characterized by various aspects such as electronic controls, superior space-to-sales capability, multiple pricing of vended products, and high flexibility in vending different beverage packages. The company’s principal manufacturing plant is located in Kearneysville and it has led the cold drink vending machines market for more than three decades. Its Royal Remanufacturing division provides reconditioning and refurbishment services to bottlers and vending operators who desire to extend the useful life span of their beverage vending machines and refrigerated glass-door merchandisers.  

  • Glory Ltd. -  This company was founded in 1918 in Himeji, Japan. Earlier known as Kokuei Machinery Manufacturing, started developing revolutionary products such as coin wrappers, 1,000-yen banknote changers, and cigarette vending machines. The brand name GLORY was at its peak of popularity in 1953. Later in 1958, while maintaining their reputation as an industry pioneer of the region, they launched vending machines in Japan for the sale of cigarettes and chewing gum. Their products include touch panel ticket vending machines now. They renamed the company from Kokuei Machinery Manufacturing to Glory in 1971. With the launch of machines in the years when the displayed technology was considered as revolutionary, they acquired a strong customer base in the financial, and retail. The current product portfolio of the company includes open teller systems, banknote counters and recyclers, money changers, coin wrappers, sales proceeds deposit machines, rental lockers, medical payment kiosks, face recognition systems, RFID self-checkout systems, and cigarette and ticket vending machines. It meets the needs of financial, retail, transportation, government office, original equipment manufacturers, leisure facilities, tobacco manufacturers, and amusement, and gaming industries.  

  • Sanden Holding Corp. -  Sanden Holding Corp, the company established in 1943, is now headquartered in Gunma, Japan. The company is a well-known manufacturer of machinery used in the Automotive, Vending, and Living & Environment Business sectors. Products offered by the company include office coffee machines, food vending machines, snack vending machines, cold drink vending machines, and snack and drink vending machines. SandenVendo, the United States subsidiary, manufactures draft beer systems, coffee bars, and food service equipment as well. Now, they are engaging in next-generation air-conditioning systems that are friendly to people and to the earth. Their machines are generally adopted by automobile, construction equipment, and agricultural equipment manufacturers all over the world. It has a presence outside Japan in locations such as France, Poland, Germany, the United Kingdom, Italy, Spain, the United States, Mexico, India, Singapore, Malaysia, Indonesia, Vietnam, Korea, Australia, and China as well. The company offers stack machines, glass front vendors, hot food displays, refrigerated showcases, ice cream cases, and micro-market designs worldwide.  

  • Seaga Manufacturing Inc. -  Seaga is one of the world’s leading companies engaged in the manufacturing, design, engineering, and sale of the most essential, first-in-class, vending technologies, and accessories. The product portfolio includes industrial vending, snack vending machines, cold vending machines, Personal Protective Equipment (PPE) vending machines, glass front vendors, medical vending machines, bill changer machines, visi-coolers, single-serve machines, and custom vending machines. The company was founded in 1987 and is now headquartered in Freeport, Illinois. With manufacturing and business operations in the United States as well as a modern facility located in India, the company has a global presence as well. Seaga is also the North American Master Distributor of Saeco professional espresso and fresh brew coffee equipment. The company recently launched The Prosper, a smart new vending machine featuring 18 selections and allowing an extensive product range of 8 oz. to 20 oz. beverages. It also offers s custom vending machines such as the 5-Hour Energy Shot and Single Cup Coffee Station vending machine.  

  • Orasesta S.p.A. -  Orasesta S.p.A. was formed after the merger of historic business entities in the automatic catering sector, such as Novalìo, Tuttomatik, and Ital-lio in Lombardy, Idra and Dimac in Piedmont, Caffè Espresso in Veneto, Orasesta Centro in Lazio, and Das e Break Point in Liguria. The company has now installed around 24,000 vending machines to date, which are refilled by a fleet of 400 vehicles. It serves different parts of Italy and has categorized its solutions into small users (up to 10 consumers), medium users (from 11 to 50 consumers), large users (over 50 consumers), Drinks and Snacks, Orasesta Special Projects, and The Lavazza World. The company was founded back in 1974 and now has headquarters in Milan, Italy. They claim that they were the first in the industry to offer cashless payment systems. Vending machines offered by the company includes Hot Beverage Vending Equipment, Snack & Cold Beverage Vending Equipment, Top coffee machines, Vending machines for snacks and cold drinks, Lavazza Firma: high quality coffee for employees & customer and others.  

  • Sellmat s.r.l. -  Sellmat s.r.l. the company was founded in 1967 and is headquartered in Prato Sesia, Novara, Italy. The company is in the business of retail sales of automatic merchandising units such as vending machines. It develops and sells a wide range of automatic coffee machines that are useful and efficient. This includes two variants, Compact and Marlow. The compact is generally preferred by retail outlets, convenience stores, petrol forecourts, motorway service areas, and leisure facilities while the Marlow that is equipped with 250+ drink combinations and is generally suitable for locations where consumer footfall is high. Additionally, the company supplies capsules as per the customer’s choice and a whole range of required accessories, along with maintenance, delivery, and customer care. The company also provides catering services. The company has approximately 20,000 vending machines are present in most of the territory of Piedmont and Val d'Aosta. They also provide services such as family solutions, company solutions, and community solutions as well which include a whole range of accessories you need, accompanied by maintenance, delivery, and customer care service.  

  • Fuji Electric Co., Ltd. -  The Fuji Electric Co., Ltd. provides beverage manufacturers and retail stores that require 24-hour sales points with vending machines and automatic tea servers that contribute to labor and energy savings. They also provide showcase and store systems to convenience stores, POS manufacturers, and supermarkets for the distribution of safe and secure food products. They have a wide range of products installed in markets of Japan, China, and Thailand. Some of the key products offered by Fuji in the market are can and PET bottle vending machines with hybrid heat pumps, cup vending machines, food vending machines,frozen food vending machines, showcases, in-store comprehensive facility management systems, automatic change dispensers, frozen refrigeration containers, and Automatic tea servers. They started producing vending machines in 1969. Now it has established its business in regions such as North America, Europe, Asia, and Africa, across numerous countries. As of March 2021, it had more than 27,000 employees.

Value chain-based sizing & forecasting

Supply Side Estimates

  • Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

  • Segment revenue determination via variable analysis and penetration modeling.

  • Competitive benchmarking to identify market leaders and their collective revenue shares.

  • Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

  • Identifying parent markets and ancillary markets

  • Segment penetration analysis to obtain pertinent

  • revenue/volume

  • Heuristic forecasting with the help of subject matter experts

  • Forecasting via variable analysis

Retail Vending Machine Market Report Objectives:

  • Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

  • Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

  • Understanding market estimates and forecasts (with the base year as 2021, historic information from 2017 to 2020, and forecast from 2022 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Retail Vending Machine Market Report Assumptions:

  • The report provides market value for the base year 2021 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

  • The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

  • We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

  • All market estimates and forecasts have been validated through primary interviews with the key industry participants.

  • Inflation has not been accounted for to estimate and forecast the market.

  • Numbers may not add up due to rounding off.

  • Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

  • Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

  • Latin America includes Central American countries and the South American continent

  • Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

  • Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

  • Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.

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