According to a new report released by Allied Market Research, titled “Coffee Makers Market by Type, End Use and Sales Channel: Analysis of Industry Opportunities and Forecast, 2021-2027The 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. Market is expected to present additional revenue opportunity. from $ 1,370.82 million from 2019 to 2027. The coffee maker market includes drip, steam, capsule and other coffee maker.
The coffee industry has evolved in terms of innovations, new launches and demand. Manufacturers focus on key innovations that meet the demands of a broad consumer base. In addition, 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 resulted in 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 players in the market are strategizing to promote their products on various social media platforms. So, thanks to the social media marketing strategy, the coffee maker market sees a critical growth opportunity.
Request a sample copy of this report >>> https://www.alliedmarketresearch.com/request-sample/6694
Coffee consumption has experienced a higher penetration rate in North America and Europe. However, low availability and low consumption have been observed in some major regions of Asia-Pacific and LAMEA, which is due to underperforming macroeconomic factors such as low internet penetration and poor marketing strategies of businesses. manufacturers. Thus, lower penetration of these products limits the growth of the coffee maker market. In addition, the higher maintenance cost of the machine is slowing the growth of the market.
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 filter coffee machine, steam coffee machine, capsule coffee machine, and others. The drip coffee machine is widely used in the 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 technological features such that 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 significant 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 shopping complexes across the world. In addition, the rapid growth of the corporate sector is expected to fuel the demand for coffee machines in the market.
On the basis of 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 attributed to the fact that 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 COVID-19 impact @ Request for personalization >>> https://www.alliedmarketresearch.com/request-for-customization/6694?reqfor=covid
Regarding regions, Europe was the leading market in 2019, garnering maximum share, due to high coffee consumption in majority of European countries including Germany, Italy, France and Spain. In addition, consumers in the region are attracted by the new varieties of coffee and its taste, which is driving the growth of the market. In addition, Europe is expected to experience a CAGR of 5.70%, due to the health benefits offered by coffee.
Major players featured in this report include 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. Major players provide current coffee machine market trends, financial statements, and product development.
If you have any questions, ask our experts >>> https://www.alliedmarketresearch.com/connect-to-analyst/6694
Main conclusions 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, with a CAGR of 6.30% during the forecast period.
- By type, the filter coffee machine segment is expected to experience the fastest growth, 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 most important market and is expected to grow at a significant CAGR throughout the forecast period of the Coffee Machines Market.