The global vending machine market is estimated to grow at a CAGR of 3.2% from 2024 to 2029 and the global market size is expected to be valued at USD 7531.1 million by 2029 from USD 6433.6 million in 2024.
In general, a vending machine is used to dispense the items that are stored inside it, such as beverages, packaged foods, and tobacco products.
The growing demand for on-the-go snacks and drinks due to a hectic lifestyle is further fuelling the growth rate of the global market. The rise in product innovation from various companies such as face recognition, voice recognition, interactive display systems, and big data integration propels the growth of the vending machine market.
Growing adoption of vending machines to enhance the consumer shopping experience, increasing demand for vending machines in offices and institutions, rising consumption of convenience food items, and adoption of smart customer service technologies in several food categories are some of the growth-supporting factors of the vending machine market growth. Another major growth driving factor of the Vending Machine market is that it was a cost-saving alternative to traditional stores with employees. Increasing investments by companies from emerging economies such as India, Brazil, and China for new product innovation boost the growth of the market of Vending Machine.
Strict regulations regarding the sales of unhealthy, junk food and tobacco products in public places are one of the major restraints which hinder the growth of the vending machine market. Another major restraint that is affecting the growth of the market of Vending machines is the fixed product prices.
Coronavirus has impacted global industries in three ways, by directly affecting production and demand, by creating supply chain and market disruption, and by its financial impact on firms and financial markets due to the strict lockdown regulations imposed by government authorities all around the world. Due to the lockdown, companies were forced to halt their manufacturing units for a period to eradicate the spread of the coronavirus as it was spreading at a rapid speed from one person to another. This situation is expected to continue until there is a cure for the disease. The companies are in a panic situation as they have experienced huge losses due to the COVID-19 pandemic and are looking for some alternatives to set their business on the right path, but it’s going to take a while until everything is back to normal. All companies have resumed their activities as governments lifted all the lockdown guidelines to stable economic growth. As per the analysis, the market for Vending machines is expected to increase the revenue rate in the next few months with all the industries starting their manufacturing of the products, which in turn going to increase the revenue rate of the vending machine market.
REPORT METRIC |
DETAILS |
Market Size Available |
2023 to 2029 |
Base Year |
2023 |
Forecast Period |
2024 to 2029 |
CAGR |
3.2% |
Segments Covered |
By Type, Application, Payment mode, and Region |
Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities |
Regions Covered |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
Market Leaders Profiled |
Royal Vendors, Inc.; Glory Ltd.; Sanden Holding Corp.; Seaga Manufacturing, Inc.; Azkoyen Group; Cantaloupe Systems; Westomatic Vending Services Ltd.; Orasesta S.p.A.; Selamat S.r.l.; and Fuji Electric. |
Global Vending Machine Market By Application
Among these segments, the public places segment holds the major share of the market owing to the increase in customers who are attracted to vending machines.
The cash payment mode segment holds the largest share of the market. The availability of cash payment mode vending machines everywhere is ascribed to bolster the growth rate of the market.
Furthermore, the increase in demand for ready-to-eat meals across the region, especially in some countries such as the United States and Canada, is also one of the major driving factors that propel the growth of the market of Vending Machines in the Asia Pacific region.
Asia Pacific region holds the second-largest share of the market of Vending Machines attributed to growing commercial and corporate sectors in the region are some of the factors that are helping the market of Vending Machines to grow further in the Asia Pacific region.
The European region is expected to increase the market of Vending Machines owing to the increasing demand for vending machines in offices and institutions, and the rising consumption of convenience food items propels the growth of the market in the North American region.
Companies that play a major role in the global vending machine market include Royal Vendors, Inc., Glory Ltd, Sanden Holding Corp, Seaga Manufacturing, Inc., Azkoyen Group, Cantaloupe Systems, Westomatic Vending Services Ltd, Orasesta S.p.A., Selamat S.r.l, and Fuji Electric.
By Type
By Application
By Payment Mode
By Region
Frequently Asked Questions
The global vending machine market is expected to be worth USD 6433.6 million in 2024.
In North America, the vending machine market is evolving with the integration of cashless payment systems, healthier snack options, and a focus on smart vending technologies to enhance the user experience.
In Europe, key trends driving the growth of vending machines include the adoption of sustainable and eco-friendly vending solutions, innovative product offerings, and the incorporation of digital signage for marketing.
The COVID-19 pandemic has accelerated the adoption of contactless technologies in vending machines globally, promoting safety and hygiene. Additionally, the demand for healthier snack options has increased.
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