Coffee Machines Market is Estimated to Grow at a Promisable CAGR 4.3% During Forecast Period, 2021-2028

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Coffee Machines Market is Estimated to Grow at a Promisable CAGR 4.3% During Forecast Period, 2021-2028

According to our latest market study on “Coffee Machines Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type (Filter Coffee Machin

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According to our latest market study on “Coffee Machines Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type (Filter Coffee Machines, Espresso Coffee Machines, Capsule & Pod Coffee Machines, and Others); Category (Manual and Automatic & Semi-Automatic); End-User (Residential and Non-Residential)” the coffee machines market size was valued at US$ 15,340.75 million in 2021 and is projected to reach US$ 20,596.79 million by 2028; it is expected to grow at a CAGR of 4.3% from 2021 to 2028. The report highlights key factors driving the coffee machines market growth and prominent players along with their developments in the market.

A coffee machine is a device that is used to brew coffee. While there are many types of coffeemakers that use various brewing methods, the most popular devices use a paper or metal filter within a funnel that is put over a glass or ceramic coffee pot, which is a kettle-style cooking pot. Coffee machines are available in various sizes and shapes as well as in different type of models which includes filter coffee machines, espresso coffee machines, capsule and pod coffee machines, and others. This has played an important role in increasing its demand. In addition, manufacturers are introducing drip machines with advanced technological features, which is also likely to propel coffee machines market growth.

Markets for filter coffee machines, espresso coffee machines, pod & capsule coffee machines, and others are divided based on type. In terms of market share for coffee machines worldwide in 2020, the filter coffee machine segment dominated. The filter coffee maker’s reusable parts include the cone and filter. This has significantly increased the demand for it. Additionally, producers are releasing filter coffee machines with cutting-edge technological capabilities, which will probably also fuel segment expansion.

North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South and Central America are the five main geographic areas that make up the coffee machine market (SAM). Europe held the greatest market share for coffee makers worldwide in 2020. The residential sector’s need for high-tech coffee makers is driving the market for coffee makers upward. This growth has also been aided by the presence of several significant manufacturers in the area. Additionally, the quickly expanding corporate sector will increase demand. The rise of coffee makers in the home market is being driven by the demand for speciality coffee enhanced with various flavours.

The potential for coffee shops and capsule systems for the working population of professionals and youth is growing as a result of the spread of coffee culture in working spaces, which in turn is raising the need for coffee machines globally. For instance, roughly 1.2 billion young people worldwide, or 16% of the world’s population, were between the ages of 15 and 24 in 2019, according to United Nations estimates of the world’s population. By 2065, there will be 1.4 billion young people in the world, or 13% of the total population. Youth as a percentage of the population peaked in 1985 at 19.3%. It is anticipated that rising urbanisation and the quickening of IT park construction in India’s developing economies will increase demand for coffee beverages.

Some of the major key players operating in the global coffee machines industry includes Keurig Green Mountain, Inc. Robert Bosch Gmbh; Electrolux Ab.; Illycaffè S.P.A.; Koninklijke Philips N.V; Krups Gmbh; Morphy Richards; Nestlé S.A.; Panasonic Corporation; and Luigi Lavazza S.P.A. The major players in the coffee machines industry are focusing on strategies such as mergers and acquisitions and research and development to increase the geographical presence and consumer base globally.

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