According to MarkNtel Advisors’ research report titled “Global Coffee Machine Market Analysis, 2020”, the Coffee Machine market is projected to register a CAGR of around 8% during 2020-25. Europe acquired a significant market share in the Global Coffee Machine market in 2019. Europe is one of the largest coffee consuming regions across the globe. Coffee is one of the most consumed drinks in Europe as it is deeply inclined and integrated into the culture and lifestyle of the consumers.
Good performance of the coffee machines and their high coffee quality along with the preference for strong brew taste with milky froth on the top are some of the key factors driving the growth of coffee machines in the region from out-of-home sectors. Therefore, the increasing consumption of coffee in the region is projected to strongly contribute to the growth of the Global Coffee Machine market in the years to come.
The drip coffee machine is an integral part of North America culture and captured a significant market share in the overall North America Coffee Machine market in 2019. The growth in the Drip Coffee Machine market is primarily attributed to the re-utilization feature of drip coffee machines. Several components of the machine such as filters and cones are reusable, thereby positively impacting the increased demand for drip coffee machines. Moreover, the integration of new technologies with the drip coffee machine is anticipated to boost the growth of the Coffee Machine market in the region. However, the Capsule Coffee Machine market is anticipated to rapidly grow in the forthcoming period due to its features of being simple in operations, being lightweight, and being cost-efficient as compared to other coffee machines. Also, the lower energy consumption and maintenance cost are increasing the traction of residential end users toward capsule coffee machines.
According to MarkNtel Advisors, the key players capturing a considerable market share in the Global Coffee Machine market include Keurig Dr. Pepper, Jura Inc., EVOCA, Melitta, Philips, Breville, Groupe SEB, etc. The companies are launching new products in the market to gain a competitive edge in the industry. Moreover, the players are increasingly collaborating to boost their business.
Key Questions Answered in the Market Research Report
1. What are the key overall market statistics or market estimates (Market overview, Market Size- By Revenue, Forecast Numbers, Market Segmentation, Market Shares) of Global Coffee Machine Market?
2. What are the region wise industry size, growth drivers and challenges key market trends?
3. What are the key innovations, technology upgrades, opportunities, regulations, growth drivers and challenges in the Global Coffee Machine Market?
4. Who are the key competitors or market players and how they perform in Global Coffee Machine Market on the basis of competitive benchmarking matrix?
5. What are the key results derived from the market surveys conducted during the course of Global Coffee Machine Market study?