Commercial Beverage Dispensing Equipment Market Worth $ 8.3
Market Statsville Group (MSG) Releases New Report on ‘Commercial Beverage Vending Equipment Market By Technology (Automatic, Semi-Automatic & Manual), By Beverage Type (Hot, Cold, Fountain, Frozen & Soft), by Material (stainless steel, glass and acrylic, plastic), by type of dispenser (countertop, built-in, conventional), by end user (convenience stores, QSRs and restaurants, educational and institutional, leisure, others), by region – Global share and forecasts until 2027 “.
The global commercial beverage dispensing equipment market size is expected to grow from USD 5.9 billion in 2020 to USD 8.3 million by 2027, at a CAGR of 5.9% during the forecast period. The concept of ghost kitchens has transformed the phase of the hotel and restaurant industry. It includes setting up a special kitchen to comply with increasing food deliveries and has attracted many investment opportunities in recent years. Most food and beverage companies are also entering the virtual kitchen segment due to rising rents and falling margin levels, where removing excess space for meals can provide an opportunity to growth.
Browse 211 market data tables and 63 figures spread over 234 pages and an in-depth table of contents on the ‘Commercial Beverage Dispensing Equipment Market 2021-2027 Market Research Report’.
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Global Commercial Beverage Dispensing Equipment Market Segmentation
The overall commercial beverage dispensing equipment market has been segmented into technology, beverage, material, dispenser, end user, and region.
• By technology (automatic, semi-automatic and manual)
• By type of drink (hot, cold, fountain, frozen and soft)
• By material (stainless steel, glass and acrylic, plastic)
• By type of dispenser (countertop, built-in, conventional)
• By end user (convenience stores, QSRs and restaurants, educational and institutional establishments, leisure, others)
• By region (United States, Canada, Mexico, United Kingdom, Germany, France, Italy, Spain, China, Japan, India, South Korea, Southeast Asia, Australia, Saudi Arabia, United Arab Emirates, Africa South, Qatar, Nigeria, Israel, Brazil, Argentina, Peru)
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Countertop, by Distributor Type, is estimated to have the largest market share during the forecast period
The global commercial beverage dispensing equipment market is divided into countertop, built-in, and conventional based on the type of dispenser. The countertop segment generated the highest revenue of 61.5% of the total global commercial beverage dispensing equipment market in 2020. Countertop versions are highly preferred because they are compact and durable. They tend to remain the main preference for retail spaces with space constraints. Over 70% of major industry players including Cornelius, FBD, Lancer, are committed to bringing affordable and qualified countertop versions to the market to utilize the window of opportunity.
Countertop versions also have a higher likelihood of adoption in snack bars, cafes, convenience stores, and coworking spaces where equipment is more feasible to conform to a sizable customer footprint. They are also often purchased in multiple units to interact with customers in various retail spaces. Automated technology, self-cleaning features, LED touch screens, user-friendly options and portable nature influence equipment purchasing.
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North America Holds Largest Commercial Beverage Dispensing Equipment Market 2020
Based on regions, the global commercial beverage dispensing equipment market has been segmented into North America, Asia-Pacific, Europe, South America, Middle East and Africa. In 2020, North America held the highest market share of 30.2% in the global commercial beverage dispensing equipment market and is expected to maintain its dominance throughout the forecast period. North America is also expected to maintain its dominance throughout the forecast period. The region is also seen as a forerunner in adopting the latest technologies, which are expensive in other geographies. Coke Solutions sees the US as the hotspot for installing innovations, including the extraordinarily successful Freestyle variant. Many schools, hotels, fast food chains and shopping centers are in the works, increasing the adoption rate.
In Canada, there is more room for expansion in the restaurant industry, where consumers are looking for more varied and practical solutions. The increase in the minimum wage at limited-service restaurants (LSR) has also forced the adoption of beverage vending machines for cost advantages. The rise in wages may be greater in cities such as Ontario, British Columbia, Alberta, where demand may be greater in the years to come. As restaurants face the challenge of rising labor costs, increasing the efficiency of operations without investing in technology is viewed as uncertain by operators nationwide. There is also a higher probability of laying off employees in restaurant chains, which increases reliability and reliance on electronic equipment such as vending machines for the beverage segment.
Some of the major players are Igloo Products Corporation, Manitowoc Foodservice Companies, Inc., Cornelius, Inc., FBD Frozen Beverage Dispensers, Follett LLC, Bras Internazionale SPA, Lancer BLVD, Danby Products Ltd., BUNN and Cambro Manufacturing, Co. in the global commercial beverage dispensing equipment market.
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