The global food and beverage vending machine market is anticipated to grow at a CAGR of 12% during the forecast period (2022-2028). With the intervention of technology such as IoT, food and beverage vending machines are becoming smarter. Rising R&D has led to the introduction of intelligent vending machines which is propelling the growth of the global food and beverage vending machine market. Manufacturers in the industry are focusing on launching internet of things (IoT)-based vending machines which enable real-time data collection. Accordingly, with IoT-based solutions, it has become more convenient to gather data on consumer experience and deliver an enhanced consumer shopping experience.
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Constant innovations and technological developments, such as voice recognition, interactive display with touch screens, image animations, and big data integration, have made it more user-friendly for consumers, thereby supporting the market growth. For instance, in 2022, Selecta Group announced a new strategic partnership with Mars Wrigley, a treats and snacks giant. Together, the companies will introduce a new generation of intelligent vending machines with user-friendly touchscreens, detailed product information, as well as smart and modern payment processing. The new vending machine features 48-inch touchscreens, video advertising, remote planogram updates and image animations. In addition, consumers can access and purchase multiple products in a single transaction and receive personalized product suggestions.
Moreover, the introduction of vending machines that can dispense foods that were previously unrealistic to sell is further escalating the growth of the market. For instance, in September 2021, Kenmin Foods Co., Ltd. installed a frozen rice noodle vending machine in front of the Kobe head office. It sells a total of five types of frozen rice noodles, including baked rice noodles (2 servings, 500 yen), shrimp and egg rice noodles (2 servings, 500 yen), and a Korean-style fried bean curd japchae (2 servings, 500 yen).
Market Coverage
• The market number available for – 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
o By Product Type
o By Payment Mode
o By Application
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- Bianchi Industry S.p.A., American Vending Machine, Inc., Fuji Electric Co., Ltd., SandenVendo GmbH, and Innovative Vending Solutions, LLC.
Key questions addressed by the report
• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
• Who is the leader in the market?
• How are players addressing challenges to sustain growth?
• Where is the investment opportunity?
Global Food and Beverage Vending Machine Market Report by Segment
By Product Type
By Payment Mode
Application
Global Food and Beverage Vending Machine Market Report by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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