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Global Vending Machine Market Size, Share, Trends, COVID-19 Impact & Growth Forecast Report – Segmented By Type (Food, Cigarette, Ticket, Beverage Drink and Other Goods), Application (Factory, Office Buildings, Public Places, Schools and Other Types Of Application), Payment Mode (Cash and Cashless), and Region (North America, Europe, APAC, Latin America, Middle East and Africa) – Industry Analysis from 2024 to 2029

Published: March, 2023
ID: 11166
Pages: 175
Formats: report pdf report excel report power bi report ppt

Global Vending Machine Market Size (2024 to 2029)

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. 

Global Vending Machine Market Drivers:

One of the major driving factors of vending machines is the machine’s ability to deliver goods quickly, making it an extremely convenient option for consumers. 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.

Global Vending Machine Market Restraints:

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.

Impact of COVID-19 on the global vending machine market:

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 COVERAGE:

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.

 

This research report on the global vending machine market has been segmented and sub-segmented based on type, application, payment mode, and region.

Global Vending Machine Market – By Type:

  • Food
  • Cigarette
  • Ticket
  • Beverage Drink
  • Other Goods

Among these segments, the beverage drinks segment holds the major share of the market as it is majorly used in most offices and institutions.

Global Vending Machine Market – By Application:

  • Factory
  • Office buildings
  • Public places
  • Schools
  • Others

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.

Global Vending Machine Market – By Payment Mode:

  • Cash
  • Cashless

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.  

Global Vending Machine Market – By Region:

  • North America 
  • Europe
  • Asia Pacific 
  • Latin America 
  • The Middle East and Africa

North American region holds the major share of the market due to the changing lifestyle in the region is also a major driving factor that helps the growth of the market of Vending Machines in the North American region. 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.

KEY MARKET PLAYERS:

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.

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FAQ's

What is the current size of the global vending machine market?

The global vending machine market is expected to be worth USD 6433.6 million in 2024.

How is the vending machine market evolving in North America?

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.

What are the key trends driving the growth of vending machines in Europe?

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.

How has the COVID-19 pandemic affected the global vending machine market?

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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