Vending Machine Market Size, Growth, Opportunity and Forecast Till 2028

IMARC Group, a leading market research company, has recently releases report titled “Vending Machine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global vending machine market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

How big is the vending machine market?

Report Attributes	Details
Market Size in 2022	US$ 19.5 Billion
Market Forecast in 2028	US$ 26.4 Billion
Growth rate (2023 to 2028)	CAGR of 5%%
Base Year of the Analysis	2022
Forecast Period	2023-2028

What is vending machine?

Vending machines are self-service machines that provide consumers with merchandise, snacks, beverages, or other consumables in exchange for payments. They are strategically placed in high-traffic areas, such as shopping malls, offices, schools, airports, and public spaces, offering customers a convenient and accessible purchase. In addition, they offer round-the-clock availability and 24/7 accessibility to consumers to make purchases at their convenience, promoting customer satisfaction and enhancing their shopping experience. Moreover, they eliminate the expenses associated with rent, utilities, and staffing, making them an attractive option for businesses looking to expand their retail presence or enter new markets. As a result, vending machines are gaining popularity within the retail industry, providing automated retail solutions for products such as confectionery, cigarettes, personal care items, electronics, tickets, and even fresh food.

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What are the growth prospects and trends in the vending machine industry?

The global vending machine market is primarily driven by the growing consumer preference for quick and convenient shopping experiences. Additionally, rapid urbanization, the hectic lifestyles of individuals, and the escalating demand for vending machines, as they provide instant access to numerous products, including beverages, toiletries, and even electronics, are contributing to the market growth. Moreover, various technological advancements in vending machines are equipped with advanced features such as touchscreens, cashless payment options, remote monitoring systems, and real-time inventory tracking that improve operational efficiency, enhance customer engagement, and facilitate seamless transactions, thus representing another major growth-inducing factor. Besides this, the growing demand for healthier and customized product options such as healthier snacks, organic products, and specialty beverages to cater to changing consumer preferences is accelerating the product adoption rate. Furthermore, the increasing demand for eco-friendly vending machines that promote recycling, reduce energy consumption, and minimize waste with the integration of energy-efficient components and the use of biodegradable packaging is creating a positive market outlook.

Who are the key players operating in the industry?

The report covers the major market players including: 

• Azkoyen Group
• Bianchi Industry S.p.A.
• Cantaloupe Inc.
• Crane Co.
• Fuji Electric Co. Ltd.
• Glory Ltd.
• Jofemar Corporation
• Orasesta Spa
• Royal Vendors Inc.
• Sanden Holdings Corporation
• Seaga Manufacturing Inc.
• Selecta AG
• Westomatic Vending Services Ltd.

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Type:

• Food Vending Machine
• Beverages Vending Machine
• Tobacco Vending Machine
• Others

Breakup by Technology:

• Automatic Machine
• Semi-Automatic Machine
• Smart Machine

Breakup by Payment Mode:

• Cash
• Cashless

Breakup by Application:

• Hotels and Restaurants
• Corporate Offices
• Public Places
• Others

Breakup by Region:

• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)

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Key Highlights of the Report:                                                           

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape

Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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