MILAN – The report “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) “was shared on researchandmarkets.com. We report the results that emerged from this analysis, from the finance.yahoo.com website.
This report includes the description of factors fuelling the market growth, estimation and forecast of revenue, and identification of significant market players and their key developments, along with providing market share analysis.
The coffee machines market was valued at US$ 15,340.33 billion in 2021
And is projected to reach US$ 20,596.79 billion by 2028; it is expected to grow at a CAGR of 4.3% from 2021 to 2028. 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 segment growth.
The filter model segment held the largest share in the global market in 2020
The filter coffee machine has components such as filter and cone, and are reusable. This has played an important role in increasing its demand. In addition, manufacturers are introducing filter coffees machine with advanced technological features, which is also likely to propel segment growth.
The coffee machines market is segmented into five main regions– North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South and Central America (SAM). In 2020, Europe accounted for the largest share in the global coffee machines market. Demand for advanced coffee machines in the residential sector is boosting the growth of the coffee machines market. Presence of several major manufacturers in the region have also contributed to this growth. Furthermore, rapidly growing corporate sector will fuel the demand further. Demand for specialty coffee induced with different flavors is driving the growth of coffee machines in the residential segment.
The COVID-19 outbreak pandemic has significantly affected the global coffee machines market
The outbreak has declined operational efficiency and interrupted supply chains owing to the sudden closure of national and international boundaries, thereby creating revenue loss and damage. The disruptions in supply chain have restricted the supply of raw material, which, in turn, is hindering the growth of the market and affecting the production of coffee machines. While the demand for coffee machines in non-residential applications fell significantly, demand for coffee machines in residential applications has increased primarily owing to the shutdown of most cafes as well as the shift to work-from-home by the corporates. This also increased the demand for specialty coffee or cafe-like coffee that can be prepared at home. This has aided the sales of coffee machines.
According to the All Japan Coffee Association, the concept, “cafe at home” has become quite popular in 2020
So much so that the consumption of coffee at home has rapidly increased. As more and more people have become interested in ways to brew great coffee at home. People who are working from home have started to drink higher amounts of coffee as a result. Moreover, as the international vaccine campaign gathering momentum and the pandemic gradually being brought under control across the developed economies, consumers and companies are slowly returning to normalcy and this is expected to offer further opportunities for growth.
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