Coffee Machines Market Size Worth USD 20,596.79 million by 2028 | Grow CAGR of 4.3% Says, The Insight Partners

Increasing Demand from the Corporate World and Youth Population to Boost Coffee Machines Market Growth

NEW YORK, UNITED STATES, November 8, 2022 /EINPresswire.com/ -- According to The Insight Partners latest market study on “Coffee Machines Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type (Filter Coffee Machines, Espresso Coffee Machines, Capsule & Pod Coffee Machines, and Others); Category (Manual and Automatic & Semi-Automatic); End-User (Residential and Non-Residential)” the coffee machines market size was valued at US$ 15,340.75 million in 2021 and is projected to reach US$ 20,596.79 million by 2028; it is expected to grow at a CAGR of 4.3% from 2021 to 2028. The report highlights key factors driving the coffee machines market growth and prominent players along with their developments in the market.

A coffee machine is a device that is used to brew coffee. While there are many types of coffeemakers that use various brewing methods, the most popular devices use a paper or metal filter within a funnel that is put over a glass or ceramic coffee pot, which is a kettle-style cooking pot. Coffee machines are available in various sizes and shapes as well as in different type of models, which includes filter coffee machines, espresso coffee machines, capsule and pod coffee machines, and others. This has played an important role in increasing its demand. In addition, manufacturers are introducing drip machines with advanced technological features, which is also likely to propel coffee machines market growth.

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The key players operating in the global coffee machines market are Keurig Green Mountain, Inc. Robert Bosch Gmbh; Electrolux Ab.; Illycaffè S.P.A.; Koninklijke Philips N.V; Krups Gmbh; Morphy Richards; Nestlé S.A.; Panasonic Corporation; and Luigi Lavazza S.P.A. are the major players operating in the coffee machines market. These companies provide a wide range of products within the coffee machines market. These companies have their presence in developing regions, which provides a lucrative opportunity for growth and expansion. These market players are highly focused on developing high quality and innovative products to fulfill the customer’s requirements.

With the expansion of coffee culture in working spaces, the scope for coffee shops and capsule systems for the working professionals and youth population is increasing, which, in turn, is increasing the demand for coffee machines worldwide. For instance, according to United Nations data of the world's population, in 2019, about 1.2 billion youth aged 15–24 years globally, or 16% of the global population. The world's youth population is expected to reach 1.4 billion people (13%) by 2065. In 1985, the proportion of youth in the overall population reached up to 19.3%. Increasing urbanization and the establishment of IT parks at a rapid pace in emerging economies of India are expected to boost the consumption of coffee beverages. Due to rising coffee use as a western beverage, some multinational coffee companies, such as Starbucks, are focusing on the strategic development of major brand chains. Thus, the increasing popularity of international cafe brands is expected to fuel demand for the automatic coffee machine. Additionally, convenience in workability of automatic coffee machines coupled with the consistent brewing has driven the middle-class population toward pod coffee machines. Moreover, rising in the male and female workforce is leading to a rise in demand for coffee machines in the corporate world.

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According to the All Japan Coffee Association, the concept, "café at home" has become quite popular in 2020, so much so that the consumption of coffee at home has rapidly increased. As more and more people have become interested in ways to brew great coffee at home. People who are working from home have started to drink higher amounts of coffee as a result. Moreover, as the international vaccine campaign gathering momentum and the pandemic gradually being brought under control across the developed economies, consumers and companies are slowly returning to normalcy and this is expected to offer further opportunities for growth.

Based on type, the market is segmented into filter coffee machines, espresso coffee machines, capsule & pod coffee machines, and others. Based on category, the market is segmented into manual and automatic & semi-automatic. Based on end-user, the market is segmented into residential and non-residential. Based on geography, the market is segmented into North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and South and Central America (SAM).

Report Spotlights

•Progressive industry trends in the coffee machines market to help players develop effective long-term strategies
•Business growth strategies adopted by developed and developing markets
•Quantitative analysis of the coffee machines market from 2018 to 2028
•Estimation of the demand for coffee machines across various industries
•PEST analysis to illustrate the efficacy of buyers and suppliers operating in the industry to predict market growth
•Recent developments to understand the competitive market scenario and the demand for coffee machines
•Market trends and outlook coupled with factors driving and restraining the growth of the coffee machines
•Decision-making process by understanding strategies that underpin commercial interest with regard to coffee machines market growth
•Coffee machines market size at various nodes of market
•Detailed overview and segmentation of the coffee machines market as well as its dynamics in the industry
•Coffee machines market size in various regions with promising growth opportunities

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Coffee Machines Market Size is expected to reach US$ 20,596.79 Million by 2028