Coffee Makers Market Size, Growth Analysis, Opportunities, Business Outlook and Forecast to 2027
coffee maker market
The recent outbreak of the novel coronavirus has impacted the supply chain globally and is expected to affect the market in the near term.
PORTLAND, 5933 NE WIN SIVERS DRIVE, #205, USA, May 27, 2023 /einpresswire.com/ — 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 USD 3.8 Billion in 2019 and is projected to reach USD 5.1 Billion by 2027, with a CAGR by 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, steamer, capsule and other coffee machines.
The coffee industry has evolved in terms of innovations, new launches and demand. Manufacturers focus on key innovations that meet the demands of the broad consumer base. Also, increased awareness of health benefits such as reduced risk of type 2 diabetes, liver cancer and liver disease, and protection against heart failure should lead to high coffee consumption. Thus, this has led to an increased demand for various types of coffee maker products in emerging countries.
In addition, an increase in the number of Internet users has been observed, as well as an increase in Internet penetration. Considering this, most of the key market players are developing a strategy to promote their products on various social media platforms. Thus, through social media marketing strategy, coffee maker market is aiming for critical growth opportunity.
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Coffee consumption has seen a higher penetration rate in North America and Europe. However, low availability and declining consumption has been observed in large parts of Asia-Pacific and LAMEA, which is attributable to poor performing macro-economic factors such as low internet penetration. and insufficient marketing strategies by manufacturers. Thus, lower penetration of these products limits the growth of the coffee maker market. Additionally, higher machine maintenance costs are restraining the market growth.
According to the coffee maker market analysis, the market is segmented on the basis of type, end-use, sales channel and region. Based on type, the coffee maker market is categorized into drip coffee maker, steam coffee maker, capsule coffee maker, and others. The drip 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, growing at a CAGR of 5.5%. during the forecast period. Manufacturers are launching drip machines with advanced technological features like these machines can be accessed through smartphone or devices which is likely to propel the growth of the segment.
On the basis of end use, the commercial segment held a major share of 65.7% in the coffee maker industry in 2019. This is attributed to the increase in the number of cafes and restaurants in commercial complexes across the world. Moreover, the rapidly growing 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% share, and is expected to maintain its dominance throughout the forecast period. This is attributed to the fact that consumers prefer products from various offline sales channels such as hypermarkets/supermarkets, specialty stores, and convenience stores, among others.
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Regionally, Europe was the leading market in 2019, registering maximum share, due to high coffee consumption in majority of European countries including Germany, Italy, France and Europe. ‘Spain. Additionally, consumers in the region are attracted to new varieties of coffee and its taste, which is driving the growth of the market. Additionally, Europe is expected to experience a CAGR of 5.70%, due to the health benefits offered by coffee.
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. Key players provide current Coffee Makers market trends, financials, and product development.
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Main results of the study
Global Coffee Maker Market was valued at USD 3.8 Billion in 2019 and is projected to reach USD 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.
By 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.
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The research provides answers to the following key questions:
1️⃣ What is the estimated market growth rate for the forecast period 2021-2027?
2️⃣ How big will the market be during the estimated period?
3️⃣ What are the major driving forces responsible for shaping the fate of the coffee maker market during the forecast period?
4️⃣ Who are the major vendors in the market and what are the winning strategies that have helped them gain a strong foothold in the coffee maker market?
5️⃣ What are the key market trends influencing the development of the Coffee Machine market across different regions?
6️⃣ What are the major threats and challenges likely to impede the growth of the Coffee Maker Market?
7️⃣ What are the key opportunities that market leaders can leverage to gain success and profitability?
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