Food And Beverage Vending Machine Market Size [2022-2029] | Industry Share, Revenue, Key Players, CAGR, Demand and Sales Forecast

Posted on Dec 7 2022 6:33 AM

"Companies covered in food and beverage vending machine market are American Vending Machine, Inc., Fuji Electronic Co., Ltd., Bulk Vending Systems Ltd., Bianchi Vending Group SpA, Innovative Vending Solutions LLC, and more players profiled"

The global food and beverage vending machine market size is expected to drastically surge because of the rising popularity of the product in universities and schools. The convenience and effectiveness of the product is likely to boost the market growth. Fortune Business Insights™ mentions this information in its report titled "Food and Beverage Vending Machine Market, 2022-2029.

Food and beverage vending machines are prevalent due to their convenience and the ability to dispense snacks and drinks to consumers quickly. In educational institutes, these machines save students' time because of their quick operations, thereby boosting the product demand. In addition, the product eliminates labor costs by automatically providing food items to consumers based on their orders. For example, “France pizza ATM” announced a food and beverage vending machine that provides food to consumers instantly. Customers can complete their transactions through a touch screen and receive their pizza through the ATM vending machine. Customers can pay through debit card, cash, or unified payments interface (UPI) payments.

Impact of COVID-19

Market to Experience a Significant Upsurge Due to Hands-free Technology

This market is expected to grow significantly during the COVID-19 pandemic due to the hands-free operation of food and beverage vending machines. Automation eliminates the need for physical labor and eliminates COVID-19 transmissions. It also eliminates the labor cost and simplifies the operation of transferring food to consumers. Therefore, despite the  lockdown regulations, the market is expected to grow exponentially.

Fortune Business Insights™ lists out all the food and beverage vending machine market companies that are presently striving to reduce the impact of Covid-19 pandemic on the market:

  • American Vending Machine, Inc.
  • Fuji Electronic Co., Ltd.
  • Bulk Vending Systems Ltd.
  • Bianchi Vending Group SpA
  • Innovative Vending Solutions LLC

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Highlights of the Report

This report analyzes the top segments and the latest trends. It comprehensively studies the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies implemented by the market's key players. 

Drivers and Restraints

Adoption of Innovative Products by Consumers to Propagate Market Growth

The growing consumer preference for products that enhance consumer lifestyle is likely to boost the demand for the product. The increasing applications of the food and beverage vending machine in gyms and fitness centers can boostmarket sales. The product is used to dispense protein bars, drinks, and other supplements to consumers. For example, as per the International Health, Racquet & Sports club Association 2019 Report, the total number of memberships rose to 183 million. The annual revenue stood at USD 94 billion in 2019. In addition, the demand for food and beverage vending machines for train stations, airports, and bus depots soared because of the convenience and hands-free operation provided by the product. Thus, this factor is expected to drive the food and beverage vending machine market growth in the upcoming years.

However, the high cost of adoption in developing economies is likely to hamper the market growth in the upcoming years. 

Segments

By product type, the market is segmented into beverage vending machines and food vending machines. As per the mode of payment, it is categorized into cash and cashless. On the basis of application, it is classified into schools, offices, shopping complexes, train stations, airports, hospitals, and others. Geographically, it is grouped into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

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Regional Insights

Adoption of Vending Machines on Highways to Bolster Market Growth

North America is projected to dominate the food and beverage vending machine market share because of the high adoption of soda machines at highways for travelers. As per the Center for Disease Control and Prevention, North Carolina placed approximately 76.7% of vending machines in 2018 on the state's highways. In addition, food and beverage vending machines are extensively used in basketball, football, and baseball stadiums for the quick dispensing of snacks and drinks to the players.

In Asia Pacific, the adoption of the machine for general use is likely to boost demand. For example, as per the information published in an article by Telegram UK in September 2019, Japan has the highest number of food and beverage vending machine in its country for general use. The vending machine provides instant noodles and other such products to the users.

The Global Food And Beverage Vending Machine Market Research/Analysis Report Contains Answers to your following Questions:

  • Which Manufacturing Technology is used for Food And Beverage Vending Machine? What Developments Are Going On in That Technology? Which Trends Are Causing These Developments?
  • Who Are the Global Key Players in This Food And Beverage Vending Machine Market? What are Their Company Profile, Their Product Information, and Contact Information?
  • What Was Global Market Status of Food And Beverage Vending Machine Market? What Was Capacity, Production Value, Cost and PROFIT of Food And Beverage Vending Machine Market?
  • What Is Current Market Status of Food And Beverage Vending Machine   Industry? What’s Market Competition in This Industry, Both Company, and Country Wise? What’s Market Analysis of Food And Beverage Vending Machine   Market Trends by Taking Applications and Types in Consideration?
  • What Are Projections of Global Food And Beverage Vending Machine Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about Import and Export?
  • What Is Food And Beverage Vending Machine   Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
  • What Is Economic Impact On Food And Beverage Vending Machine Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
  • What Are Market Dynamics of Food And Beverage Vending Machine Market? What Are Challenges and Opportunities?
  • What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Food And Beverage Vending Machine Industry?

Competitive Landscape

Major Players to Acquire Companies to Strengthen their Distribution Network

The entities of the market have acquired the assets of key players to enhance their distribution system. For example, ICT acquired an FMCG startup company named 'Detectable' in November 2019. This acquisition enhanced the company's distribution network. Additionally, the key players are making technologically advanced machinery with added features to enhance the convenience of the food and beverage vending machine. Furthermore, the companies incorporate partnership strategies with other players to fortify their market position.

Industry Development

  • March 2019: For the Earth partnered with Fastcorp to enhance its product sales. This partnership strengthened the company's market positioning.

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