The global vending machine market was valued at $18.3 billion in 2022, and is projected to reach $37.2 billion by 2032, growing at a CAGR of 7.5% from 2023 to 2032.
Increase in demand for food vending machines in offices/institutions, rise in consumption of convenience food items, and the adoption of smart customer service technologies in several food categories are the driving factors for the growth of the market. The demand for machines has Increased during the past few years and with the introduction of cashless payment systems, smart technology solutions are gaining momentum on a large scale across the globe. Moreover, Increasing urbanization and rising disposable Income have fuelled the growth of the vending machine market. Governments of various regions restricted the use of food & beverages vending machines in many places, such as schools and colleges, thereby limiting the demand for these machines.
Vending machines are portable and deliver goods quickly; hence, they are considered an extremely convenient option for consumers to purchase on-the-go food & beverages products. The demand for quick availability of food has risen in the recent past due to consumer’s busy lifestyle, Increase in urbanization, and similar other consumer behavior.
Attributed to this fact, the demand for vending machines, especially in offices, commercial spaces, and public areas has gained high momentum. Vending machines are also useful for non-food items such as toiletries, stamps, newspapers, tickets, and other small articles. Furthermore, as vending machines offer more digital payment/cashless options as compared to the traditional cash payments, the demand has gained further traction.
Manufacturers are developing and launching Internet of things (IoT)-based vending machines. This has enabled real-time data collection and an end-to-end IoT service to better monitor the machines. As a result, it has become more convenient to gather consumer experience & expectations and provide an enhanced consumer shopping experience. Constant innovation and technological developments have led the industry to offer more modern, on-the-go solutions that are parallel with shifts in consumer behavior. Furthermore, innovations, such as voice recognition, interactive display system, and big data integration, have made it more convenient and user-friendly for consumers, which created a positive impact on the demand for vending machines.
The sale of tobacco products via vending machine is prohibited in various countries such as India, Thailand, and others. Strict regulations regarding the sales of unhealthy, junk food and tobacco products in public places, institutions, and the majority of commercial spaces are expected to restrain the growth of the vending machine market. Smoking is completely banned in many public places and workplaces, such as educational, healthcare, and government facilities, and on public transport in various countries.
However, the law permits the establishment of smoking areas or spaces in airports, hotels having 30 or more rooms, and restaurants having seating capacity for 30 or more. It is smoke free in outdoor places such as stadiums, railway stations, open auditoriums, and bus stops/stands. Such factors hinder the market growth.
Modern consumers expect a convenient and personalized shopping experience; hence, it has become necessary for retailers to provide more innovative solutions that take shopping beyond the traditional retail location. Wireless solutions make it easy for retailers to conduct business anywhere. Therefore, they are motivated to opt for Internet of Things (IoT) to help them improve customer satisfaction while Increasing revenues and reducing overall costs. IoT is helping vending machine operators more effectively to respond to consumer demand and boost operational efficiency. It has also enabled to make vending machine management simple and effective.
For instance, IoT-based vending machines use real-time data to respond to customer demand and adjust pricing for maximum profitability, improve security of machines to reduce tampering and product loss, and also track temperatures & monitor other conditions to ensure that perishable food items are safe to consume. These functional benefits offered by vending machines enable to create growth opportunities in the retail industry.
The vending machine market is segmented on the basis of type, application, technology, sales channel, and region. By type, it is categorized into food vending machine, beverages vending machine, tobacco vending machine, and others. By application, it is segmented into hotels & restaurants, corporate offices, public places, and others. By technology, it is divided into automatic machine, semi-automatic machine, and smart machine. By sales channel, it is bifurcated into online and offline. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Spain, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, and Rest of Asia-Pacific), and LAMEA (Brazil, the UAE, Saudi Arabia, Turkey, and Rest of LAMEA).
The report profiles 10 key companies. Moreover, the company profiles Include various data-points such as company overview, company executives, recent financials of the company, major growth strategies espoused by company, new initiatives and advancements by company to sustain and mend their position in the Vending Machine Market, and others. The key players profiled in this report Include Sandenvendo America, Inc., Crane Merchandising Systems, Azkoyen Group, Fuji Electric Co., Ltd, Fastcorp Vending LLC, Royal Vendors, Inc., Seaga Manufacturing Inc, Jofemar Corporation., Selecta TMP AG, and Bianchi Industry.
Increase in demand for food vending machines in offices/institutions, rise in consumption of convenience food items, and the adoption of smart customer service technologies in several food categories are the driving factors for the growth of the market. The demand for machines has Increased during the past few years and with the introduction of cashless payment systems, smart technology solutions are gaining momentum on a large scale across the globe. Moreover, Increasing urbanization and rising disposable Income have fuelled the growth of the vending machine market. Governments of various regions restricted the use of food & beverages vending machines in many places, such as schools and colleges, thereby limiting the demand for these machines.
Vending machines are portable and deliver goods quickly; hence, they are considered an extremely convenient option for consumers to purchase on-the-go food & beverages products. The demand for quick availability of food has risen in the recent past due to consumer’s busy lifestyle, Increase in urbanization, and similar other consumer behavior.
Attributed to this fact, the demand for vending machines, especially in offices, commercial spaces, and public areas has gained high momentum. Vending machines are also useful for non-food items such as toiletries, stamps, newspapers, tickets, and other small articles. Furthermore, as vending machines offer more digital payment/cashless options as compared to the traditional cash payments, the demand has gained further traction.
Manufacturers are developing and launching Internet of things (IoT)-based vending machines. This has enabled real-time data collection and an end-to-end IoT service to better monitor the machines. As a result, it has become more convenient to gather consumer experience & expectations and provide an enhanced consumer shopping experience. Constant innovation and technological developments have led the industry to offer more modern, on-the-go solutions that are parallel with shifts in consumer behavior. Furthermore, innovations, such as voice recognition, interactive display system, and big data integration, have made it more convenient and user-friendly for consumers, which created a positive impact on the demand for vending machines.
The sale of tobacco products via vending machine is prohibited in various countries such as India, Thailand, and others. Strict regulations regarding the sales of unhealthy, junk food and tobacco products in public places, institutions, and the majority of commercial spaces are expected to restrain the growth of the vending machine market. Smoking is completely banned in many public places and workplaces, such as educational, healthcare, and government facilities, and on public transport in various countries.
However, the law permits the establishment of smoking areas or spaces in airports, hotels having 30 or more rooms, and restaurants having seating capacity for 30 or more. It is smoke free in outdoor places such as stadiums, railway stations, open auditoriums, and bus stops/stands. Such factors hinder the market growth.
Modern consumers expect a convenient and personalized shopping experience; hence, it has become necessary for retailers to provide more innovative solutions that take shopping beyond the traditional retail location. Wireless solutions make it easy for retailers to conduct business anywhere. Therefore, they are motivated to opt for Internet of Things (IoT) to help them improve customer satisfaction while Increasing revenues and reducing overall costs. IoT is helping vending machine operators more effectively to respond to consumer demand and boost operational efficiency. It has also enabled to make vending machine management simple and effective.
For instance, IoT-based vending machines use real-time data to respond to customer demand and adjust pricing for maximum profitability, improve security of machines to reduce tampering and product loss, and also track temperatures & monitor other conditions to ensure that perishable food items are safe to consume. These functional benefits offered by vending machines enable to create growth opportunities in the retail industry.
The vending machine market is segmented on the basis of type, application, technology, sales channel, and region. By type, it is categorized into food vending machine, beverages vending machine, tobacco vending machine, and others. By application, it is segmented into hotels & restaurants, corporate offices, public places, and others. By technology, it is divided into automatic machine, semi-automatic machine, and smart machine. By sales channel, it is bifurcated into online and offline. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Spain, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, and Rest of Asia-Pacific), and LAMEA (Brazil, the UAE, Saudi Arabia, Turkey, and Rest of LAMEA).
The report profiles 10 key companies. Moreover, the company profiles Include various data-points such as company overview, company executives, recent financials of the company, major growth strategies espoused by company, new initiatives and advancements by company to sustain and mend their position in the Vending Machine Market, and others. The key players profiled in this report Include Sandenvendo America, Inc., Crane Merchandising Systems, Azkoyen Group, Fuji Electric Co., Ltd, Fastcorp Vending LLC, Royal Vendors, Inc., Seaga Manufacturing Inc, Jofemar Corporation., Selecta TMP AG, and Bianchi Industry.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the vending machine market analysis from 2022 to 2032 to identify the prevailing vending machine market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the vending machine market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report Includes the analysis of the regional as well as global vending machine market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Sales Channel
- Offline
- Online
By Type
- Beverages Vending Machine
- Tobacco Vending Machine
- Others Vending Machine
- Food Vending Machine
By Technology
- Semi-Automatic Machine
- Smart Machine
- Automatic Machine
By Application
- Hotels and Restaurants
- Corporate Offices
- Public Places
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Russia
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Singapore
- Malaysia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- South Africa
- Saudi Arabia
- Turkey
- Rest of LAMEA
Key Market Players
- Azkoyen S.A.
- Bianchi Industry Spa
- Crane Company
- Fastcorp Vending LLC
- Fuji Electric Co., Ltd
- Jofemar S.A.
- Royal Vendors, Inc.
- SandenVendo America, Inc.
- Seaga Manufacturing Inc.
- Selecta Group B.V.
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: VENDING MACHINE MARKET, BY TYPE
CHAPTER 5: VENDING MACHINE MARKET, BY APPLICATION
CHAPTER 6: VENDING MACHINE MARKET, BY TECHNOLOGY
CHAPTER 7: VENDING MACHINE MARKET, BY SALES CHANNEL
CHAPTER 8: VENDING MACHINE MARKET, BY REGION
CHAPTER 9: COMPETITIVE LANDSCAPE
CHAPTER 10: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to a new report, titled, 'Vending Machine Market,' The vending machine market was valued at $18.3 billion in 2022, and is estimated to reach $37.2 billion by 2032, growing at a CAGR of 7.5% from 2023 to 2032.A vending machine is used to dispense the items that are stored inside it, such as packaged food, beverages, and tobacco products, in exchange with inserted coins or tokens. Dispensing is an automated process, which requires no manpower and saves precious time of humans. These machines are normally seen in fast-moving cities due to fast-paced life. Vending machine not only dispenses items but also engages shoppers with the help of touch-screen controls, video, audio, scent, gesture-based interaction, and cashless payment. Furthermore, these products have multiple applications in hotels & restaurants, corporate offices, public places, and others.
Increase in demand for food vending machines in offices/institutions, rise in consumption of convenience food items, and the adoption of smart customer service technologies in several food categories are the driving factors for the growth of the market. The demand for machines has increased during the past few years and with the introduction of cashless payment systems, smart technology solutions are gaining momentum on a large scale across the globe. Moreover, increasing urbanization and rising disposable income have fuelled the growth of the vending machine market. Governments of various regions restricted the use of food & beverages vending machines in many places, such as schools and colleges, thereby limiting the demand for these machines.
In addition, high initial installation cost of vending machine restraints the growth of the global market. Increasing popularity of vending machines in developed and developing economies and convenience offered to the consumers are the factors augmenting the demand for vending machines. Changing buying habits of customers and demand for a more convenient method for buying food & beverages further propel the growth of the market. Moreover, rising need to expand virtual space in a retail outlet is driving the growth of the vending machine market globally.
The vending machine market has witnessed higher rate of penetration in North America and Europe. However, low availability has been observed for this product in some major parts of Asia-Pacific and LAMEA, which is attributable to low-performing macro-economic factors such as low internet penetration and insufficient marketing strategies by manufacturers. Thus, lower penetration of such products limits the growth of the vending machine market.
The vending machine market is segmented on the basis of type, application, technology, sales channel, and region. Based on type, the vending machine market is categorized into food vending machine, beverages vending machine, tobacco vending machine, and others. Beverages vending machine is widely used in the hotels & restaurants industry, and is one of the prime products in the retail sector and quick service restaurants; therefore, it is expected to influence the overall vending machine industry.
- On the basis of application, the market is categorized into hotels & restaurants, corporate offices, public places, and others. This is attributed to increase in the number of coffee shops, shopping complexes, hotels & restaurants, and other facilities, which is expected to increase the demand for vending machines in the near future.
- On the basis of sales channel, the offline segment dominated the market in 2022, accounting for 68.9% of the share, and is expected to retain its dominance over the forecast period. This is attributed to the fact that consumers are preferring products from various offline sales channels, such as hypermarket/supermarket, specialty stores, and convenience stores, while purchasing, which has created major traction in the market.
The vending machine market is segmented on the basis of type, application, technology, sales channel, and region. By type, it is categorized into food vending machine, beverages vending machine, tobacco vending machine, and others. By application, it is segmented into hotels & restaurants, corporate offices, public places, and others. By technology, it is divided into automatic machine, semi-automatic machine, and smart machine. By sales channel, it is bifurcated into online and offline. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Spain, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, and Rest of Asia-Pacific), and LAMEA (Brazil, the UAE, Saudi Arabia, Turkey, and Rest of LAMEA).
The report profiles 10 key companies. Moreover, the company profiles include various data-points such as company overview, company executives, recent financials of the company, major growth strategies espoused by company, new initiatives and advancements by company to sustain and mend their position in the Vending Machine Market, and others. The key players profiled in this report include Sandenvendo America, Inc., Crane Merchandising Systems, Azkoyen Group, Fuji Electric Co., Ltd, Fastcorp Vending LLC, Royal Vendors, Inc., Seaga Manufacturing Inc, Jofemar Corporation., Selecta TMP AG, and Bianchi Industry.
Companies Mentioned
- Azkoyen S.A.
- Bianchi Industry Spa
- Crane Company
- Fastcorp Vending LLC
- Fuji Electric Co., Ltd
- Jofemar S.A.
- Royal Vendors, Inc.
- SandenVendo America, Inc.
- Seaga Manufacturing Inc.
- Selecta Group B.V.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 325 |
| Published | May 2023 |
| Forecast Period | 2022 - 2032 |
| Estimated Market Value ( USD | $ 18.3 billion |
| Forecasted Market Value ( USD | $ 37.2 billion |
| Compound Annual Growth Rate | 7.4% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
