The global capsule coffee machine market size is anticipated to reach USD 1.78 Billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 4.8% over the forecast period. The market demand is majorly driven by the prominent use of single serve coffee, especially in the western countries such as U.S., U.K., Germany, and Switzerland. Capsule machines for this beverage are designed with easy operational features, lighter volume, and are available at a cheaper rate as compared to the traditional ones.
Americans
alone consume about 136 billion cups of coffee every year, with an average
consumers drinking approximately 3 cups each day, and spending on around $1100
annually. Consumers drink up to 500 billion cups of this beverage annually at
the global level, with U.S. ranking as the second largest importer of coffee
beans, after Europe. High consumption of this beverage in these regions is
expected to drive the market.
Household
application of capsule coffee machines is expected to expand at the highest
CAGR of 5.0% over the forecast period. Growing trend of adoption of premium and
specialty beverages induced with different flavors and origin is gaining
popularity. This trend is expected to drive the demand for such capsule
machines in the household sector.
Countries
having high consumption rate such as U.S., Germany, Switzerland, and Japan are
expected to account for a significant share in the global market. Consumers in
the western countries prefer home brewed coffee and hence it is anticipated to
fuel the market growth. According to the National Coffee Association trends,
29% of the U.S. households purchased single serve brewers in 2017.
The
capsule coffee machine market in Asia Pacific is expected to expand at the
highest CAGR of 12.7% from 2019 to 2025. Rising consumer awareness regarding
technologically advanced products have initiated the sales of these products on
a large scale in the region. Developing countries such as India and China are
expected to contribute to the regional market growth owing to growing cultural
trends and rising inclination towards consumption of coffee.
Moreover,
this region is witnessing increasing establishment of cafes and coffee shops,
which is anticipated to widen the scope of this market. In addition, China's
aging demographics and busy lifestyles are expected to popularize the trend of
quick refreshment. This, in turn, has inclined them towards single-serve and
quick offerings for household consumption, thereby fueling the market growth in
the near future.
Moreover,
Chinese millennials are significantly contributing to coffee consumption,
resulting in about 20% growth. Starbucks’ initial exposure to coffee culture in
China and independent beverage shops in cities such as Shanghai and Beijing are
driving the culture. This, in turn, is expected to increase the single serve
trend, thereby propelling the sales of capsule machines for this beverage.
For more info visit here: https://www.grandviewresearch.com/industry-analysis/capsule-coffee-machine-market
Capsule Coffee
Machine Market Report Highlights
- The global
capsule coffee machine market is expected to expand at a CAGR of 13.3%
from 2019 to 2025
- The
commercial application segment was valued at USD 109.2 million in 2018,
whereas the household sector is expected to witness the fastest growth
during the forecast period
- Asia Pacific
is the fastest growing region for capsule coffee machines, expanding at a
CAGR of 12.7% from 2019 to 2025
- Top players’
operating in the market are Keurig Green Mountain, Inc.; Nestlé Nespresso
SA; Dualit Limited; Jacobs Douwe Egberts Pro; Starbucks Corporation;
Dunkin Brands; LUIGI LAVAZZA SPA; Koninklijke Philips N.V.; and illycaffè
S.p.A.
Request a Sample Copy @ https://www.grandviewresearch.com/industry-analysis/capsule-coffee-machine-market/request/rs1
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
No comments:
Post a Comment