A fully automatic coffee machine market offers the quickest method of preparing coffee. The machine automatically grinds the coffee beans, tamps them, and extracts coffee. Fully automatic coffee machines may use coffee beans, coffee pods, and capsules. These machines are generally used in HoReCa businesses, airports, workplaces, etc., and come in different price ranges.
The global fully automatic coffee machine market is projected to advance at a decent growth rate during the forecast period 2022-2031, owing to its favorable properties such as quick turnaround, and less brewing time, specifically for applications in its end-use market. The fully automatic coffee machine market is driven by the growing preference for organic coffee and ready-to-drink coffee.
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Evolving Coffee Culture Globally to Drive Fully Automatic Coffee Machine Market
The global fully automatic coffee machine market is estimated to reach a high valuation by the end of the forecast period, attributed to huge demand from HoReCa businesses such as quick-service restaurants and full-service restaurants. Growing urbanization and changing the standard of living of consumers are important factors leading to the increase in demand for fully automatic coffee machines. Moreover, the cafe and dine-out culture is also changing with the rise in the millennial population.
People prefer having coffee, espresso, etc. more often at a café or restaurant during special occasions or while meeting up with friends or colleagues. This has led to an increase in the number of small as well as large cafes which also serve ready-to-drink coffee. These factors are driving the demand for fully automatic coffee machines globally.
Rise in Quick-service Restaurants and Full-service Restaurants to Boost Demand for Fully Automatic Coffee Machines
Fully automatic coffee machines are used in various end-use segments such as airports, HoReCa, and workplaces. Various coffee chains are continuously working on their diversification and growth strategy, setting up their infrastructure in various locations – airports, malls, highways, etc. According, to year-end data provided by Starbucks, it added 484 new stores during the first quarter of 2022 and 538 stores during the previous quarter, and added 1173 new stores in the fiscal year 2021. Moreover, Starbucks is planning to open 2000 new stores by the end of 2022.
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The HoReCa business has seen a diversification in the number of quick-service restaurants as well as full-service restaurants with developments in the travel and tourism industry post-Covid-19, which is also leading to the increase in demand for fully automatic coffee machines.
Surge in Commercial Use of Fully Automatic Coffee Machines Augmenting Market Growth
In terms of end-user, the fully automatic coffee machine market has been classified into residential and commercial. The commercial segment is further bifurcated into HoReCa, workplace, transportation facilities, hospitals, and others. This segment (commercial) is expected to see the highest growth rate during the forecast period owing to various factors such as the increase in the number of fast-food restaurants, cafes, etc.
Moreover, the out-of-home coffee drinking habit of people is leading to growth in the commercial sector. For instance, the National Coffee Data Trends (NCDT) report showed that people in the U.S. had increased coffee consumption at coffee shops by 20% since January 2021, with a 16% increase in out-of-home coffee consumption overall. Meanwhile, more than half of U.K. consumers claim to have visited a coffee shop since lockdown restrictions were lifted.
Fully automatic coffee machines such as vending machines, espresso makers, and capsule coffee machines are also used in corporate offices, schools, colleges, airports, etc., which is leading to an increase in demand for fully automatic coffee machines. Manufacturers are increasing the availability of machines that enable the use of both coffee pod and capsule.
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Innovative Drip Coffee Makers Creating Incremental Opportunities for Companies
In terms of product type, the drip coffee maker is expected to grow at a higher rate during the forecast period, owing to the increasing demand for coffee among the millennial generation, changing tastes & preferences of consumers, and higher acceptance of western lifestyles. Moreover, the drip coffee machine is much cheaper compared to other coffee machine types, and also requires less repair & maintenance, which makes it more lucrative for residential as well as commercial use.
Regional Outlook of Global Fully Automatic Coffee Machine Market
The Asia Pacific held the largest value share in 2021 in the global fully automatic coffee machine market. People in the Asia Pacific, especially the young generation, prefer coffee as it is associated with a modern lifestyle. Moreover, the increasing population is also a factor leading to the growth of the fully automatic coffee machine market in the region.
Apart from the Asia Pacific, the markets in the Middle East & Africa, and Latin America are also expected to witness a higher growth rate during the forecast period attributed to the extensive production of coffee in these regions.
Furthermore, the fully automatic coffee machine market in Europe is expected to grow during the forecast period, owing to an increase in demand for premium coffee, in line with growing coffee consumption in the region.
Analysis of Key Market Players
The global fully automatic coffee machine market is consolidated with a small number of large-scale vendors controlling majority of the market share. Most firms are spending a significant amount on comprehensive research and development, primarily to develop environment-friendly products. Furthermore, companies operating in the fully automatic coffee machine market are increasing their R&D and launching innovative coffee machines, and forming joint ventures with key coffee chains.
Diversification of product portfolios and mergers & acquisitions are the key strategies adopted by the key players: Bravilor Bonamat B.V, Group SEB, Franke Holding AG, Wilbur Curtis Co, Rex-Royal AG Eversys AG, JURA Elektroapparate AG, Rancilio Group S.p.A, Gruppo Cimbali SpA, and Animo B.V are the prominent entities operating in this market.
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