PORTLAND, USA – According to a new report published by Allied Market Research, titled, “Coffee Maker Market by Type, End Use and Sales Channel: Opportunity Analysis and Industry Forecast, 2021–2027,” the global coffee maker market size was valued at $3.8 billion in 2019, and is anticipated to reach $5.1 billion by 2027, with a CAGR of 6.30% during the forecast period 2021 to 2027. The market is expected to exhibit an incremental revenue opportunity of $1,370.82 million from 2019 to 2027. The market for coffee maker comprises drip, steam, capsule, and other coffee machine.
The coffee industry has been evolving in terms of innovations, new launches, and demand. Manufacturers are focusing on key innovations that cater to the requirements of the large consumer base.
Furthermore, increase has been witnessed in the number of netizens along with rise in internet penetration. Taking this into consideration, most of the key players in the market strategize on promoting their products on various social media platforms. Thus, through social media marketing strategy, the coffee maker market sights critical growth opportunity.
According to the coffee maker market analysis, the market is segmented on the basis of type, end use, sales channel and region. Based on type, the coffee maker market is categorized into drip coffee machine, steam coffee machine, capsule coffee machine, and others.
Drip coffee machine is widely used in café and restaurant industry. The drip coffee machine segment was the highest contributor to the market, with $1,541.40 million in 2019, and is estimated to reach $1,977.32 million by 2027, at a CAGR of 5.5% during the forecast period.
The manufacturers are launching drip machines with advance technologies features such as these machines can be accessed through smartphone or devices, which is likely to propel the growth of the segment.
On the basis of end use, the commercial segment held a significant share of 65.7% in the coffee maker industry in 2019. This is attributed to increase in number of cafes and restaurants in commercial complexes across the globe. Moreover, rapidly growing corporate sector is expected to fuel the demand for coffee machine in the market.
On the basis of sales channel, the offline segment dominated the market in 2019, accounting for 61.7% of the share, and is expected to retain its dominance throughout 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, among others.
Region wise, Europe was the prominent market in 2019, garnering maximum share, owing to high consumption of coffee in majority of the European countries, including Germany, Italy, France, and Spain. Furthermore, consumers in the region are attracted by new varieties of the coffee and its taste, which drives the market growth. Furthermore, Europe is expected to witness CAGR of 5.70%, owing to health benefits offered by coffee.
