Coffee Maker Market is Soaring and Expected to Grow at a Remarkable CAGR of 6.30% from 2021 to 2027

(MENAFN-EIN Presswire) An increase in the number of Internet users has been observed as well as an increase in Internet penetration.

growing coffee consumption in emerging countries and increasing number of cafes and restaurants are the driving factors of the coffee maker market” -Roshan Deshmukh

PORTLAND, 5933 NE WIN SIVERS DRIVE, #205, UNITED STATES, January 31, 2024 /EINPresswire/ — According to a new report released by Allied Market Research, titled “Coffee Maker Market by Type, End Use and Sales Channel: Opportunity Analysis and Industry Forecast, 2021-2027”, The global coffee maker market size was valued at $3.8 billion in 2019 and is expected to reach $5.1 billion by 2027, with a CAGR of 6, 30% during the forecast period 2021 to 2027. The market is expected to present an incremental revenue opportunity of $1,370.82 million from 2019 to 2027. The coffee maker market includes drip coffee machines, steam , capsules and others. The coffee industry is evolving in terms of innovations, new launches and demand. Manufacturers are focusing on key innovations that meet the demands of a broad consumer base. Furthermore, increased awareness of health benefits, such as reduced risk of type 2 diabetes, liver cancer and liver diseases, as well as protection against heart failure, are expected to drive high consumption of coffee. Thus, this has resulted in increased demand for various types of coffee maker products in emerging countries.

Additionally, there has been an increase in the number of internet users as well as an increase in internet penetration. Considering this, most of the key players in the market are strategizing to promote their products on various social media platforms. Thus, through social media marketing strategy, the coffee maker market sees a critical growth opportunity.

Request a sample copy of this report >>>

Coffee consumption has seen a higher penetration rate in North America and Europe. However, low availability and consumption were observed in some major regions of Asia Pacific and LAMEA, which is attributable to underperforming macroeconomic factors such as low internet penetration and strategies insufficient marketing from manufacturers. Thus, lower penetration of these products limits the growth of the coffee maker market. Additionally, higher maintenance costs of the machine are restraining the market growth.

According to the coffee maker market analysis, the market is segmented based on type, end use, sales channel, and region. Based on type, the coffee maker market is classified into filter coffee machines, steam coffee machines, capsule coffee machines and others. Filter coffee machine is widely used in cafe and restaurant industry. The filter coffee machine segment was the largest contributor to the market, with $1,541.40 million in 2019, and is expected to reach $1,977.32 million by 2027, with a CAGR of 5. 5% during the forecast period. Manufacturers are launching drip machines with advanced technologies, such as these machines are accessible via smartphone or devices, which is likely to propel the growth of the segment.

On the basis of end use, the commercial segment held a significant share of 65.7% in the coffee maker industry in 2019. This is attributed to the increasing number of cafes and restaurants in commercial complexes across the world. Additionally, rapid growth in the business sector is expected to fuel the demand for coffee machines in the market.

Based on sales channel, the offline segment dominated the market in 2019, accounting for 61.7% of the share, and is expected to maintain its dominance throughout the forecast period. This is because consumers prefer products from various offline sales channels such as hypermarkets/supermarkets, specialty stores, and convenience stores, among others.

Get a detailed analysis of the impact of COVID-19 @ Customization request >>>

Regionally, Europe was the dominant market in 2019, achieving maximum share, due to the high consumption of coffee in the majority of European countries, including Germany, Italy, France and Spain. Furthermore, consumers in the region are attracted by the new varieties of coffee and their taste, which is driving the growth of the market. Additionally, Europe is expected to witness a CAGR of 5.70%, owing to the health benefits of coffee.

The key players profiled in this report are De’Longhi Appliances Srl, Electrolux, Koninklijke Philips NV, Siemens AG, BSH Home Appliances Corporation, Newell Brands, Breville USA, Inc, GROUP SEB, Whirlpool and Nestlé Nespresso. Leading players provide current Coffee Makers market trends, financials, and product development.

Main findings of the study

The global coffee maker market was valued at $3.8 billion in 2019 and is expected to reach $5.1 billion by 2027, growing at a CAGR of 6.30% during the forecast period.

By type, the drip coffee machine segment is estimated to be the fastest growing, registering a CAGR of 5.50% during the forecast period.

In terms of end use, the commercial segment held the highest share, accounting for 65.7% of the market share.

By sales channel, the offline segment held the highest share, accounting for 61.7% of the global coffee maker market share.

In 2019, Europe was the largest market and is expected to grow at a significant CAGR throughout the coffee maker market forecast period.

Buy now :-

Similar reports:-
Electric Shoe Shiners Market
Kitchenware Market

David Correa
Allied market research
+1 800-792-5285
send us an email here
Visit us on social media:
Facebook
Twitter
LinkedIn

MENAFN31012024003118003196ID1107790460


Legal disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We accept no responsibility for the accuracy, content, images, videos, licenses, completeness, legality or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, please contact the provider above.

Leave a Reply