Rockville, MD -- (SBWire) -- 04/08/2019 --The advancement in the technology and elimination of middlemen led to the establishment of the vending machines. The vending machine is an easily accessible way of selling or offering goods and services via machines. The electronically run vending machines are coin or swipe card operated and provide different products such as beverages, snacks, cigarettes and non-food merchandise such as tools, shoes, umbrellas and other products. The beverage vending machine holds the core business for the vending machine industry. The beverage vending machines offer different types of hot and cold beverages and water. The significant growth of the food and beverage industry is the critical factor that stimulates the Global Beverage Vending Machine Market. The beverage vending machine is capable of providing products at any time acquiring little space. The acceptance and prevalence of beverage vending machine is giving rise to innovation in the industry and growth of the global market over the forecast period.
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Global Beverage Vending Machine Market: Dynamics
The significant growth of the packaged beverage industry is one of the critical driving factors fueling the growth of the beverage vending machine market. The increasing demand for ready-to-drink or packaged beverage among consumers is the driving factor that is stimulating the growth of the beverage vending machine industry. In hotels and restaurants, beverage vending machine has been established additionally to attract consumers and to provide extra service to the guests with an influential sale of the product. The establishment of a beverage vending machine in restaurants, hotels and airports is expected to boost the growth of the global market. The instant service and variety of products offered by a beverage vending machine attracts consumer and drives the growth of the global market. Moreover, the beverage vending machine provides cashless payment options such as smartphones payment systems which boost the growth of market over the forecast period. The high initial installation cost of beverage vending machine restraints the growth of the global market.
Global Beverage Vending Machine Market: Segmentation
The beverage vending machine can be segmented by product as hot beverage vending machine and cold beverage vending machine. The hot beverages offered by the beverage vending machine are coffee, tea, milk, and other drinks. The cold beverage vending machine holds a significant share of the global sales and offers products such as cold drinks, fruit juices, soda, beer, and some other cold beverages.
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The beverage vending machine is further segmented by the end-user industry which comprises corporate offices, hotels, schools and colleges, airports, railway or metro stations, quick serving restaurants and others. The considerable share of the market is expected to hold by the quick serving restaurants for the global beverage vending machine market. The revenue generation of beverage vending machine industry through railway or metro stations and airports is expected to boost the growth of the worldwide market.
Beverage Vending Machine Market: Regional Outlook
The global beverage vending machine market can be segmented into seven regions as North America, Latin America, Europe, Japan, APEJ (the Asia Pacific excluding Japan), CIS & Russia and MEA. Among all the regions, North America is expected to hold the highest share of the beverage vending machine market due to the preference for the packaged beverages among consumers. The growth of packaged beverage industry is expected to play a crucial role for the growth of the global beverage vending machine market. The APEJ region is anticipated to show a healthy growth for the beverage vending machine market over the forecast period. China and India are considered to show robust growth for the beverage vending machine market due to the rise in beverage industry among growing urban population. CIS & Russia and MEA region are predicted to show moderate growth for the beverage vending machine market. According to our insights, the global beverage vending machine market will grow significantly over the forecast period, 2018-2028.
Global Beverage Vending Machine Market: Prominent Players
Some of the major players operating in beverages vending machine market are Innovative Vending Solutions LLC, Abberfield Technology Pty. Ltd, Fuji Electric Co. Ltd., Bulk Vending Systems Ltd, GTECH Corp, Cantaloupe Systems Inc., American Vending Machine Inc., Azkoyen SA, UK Vending Ltd, Bianchi Vending Group SpA and USA Technologies Inc. among others.
Compilation of authentic and first-hand intelligence, insights offered in the report are based on quantitative and qualitative assessment by leading industry experts, and inputs from opinion leaders & industry participants around the value chain. Growth determinants, macroeconomic indicators, and parent market trends have been scrutinized and delivered, coupled with the market attractiveness for each market segment encompassed. Qualitative impact of growth influencers on the market segments across regions has also been mapped by the report.
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Global Beverage Vending Machine Market Report Overview, Leading Players, Future and Forecast Till 2028
The significant growth of the packaged beverage industry is one of the critical driving factors fueling the growth of the beverage vending machine market.