Vending Machine Market Size, Share, Forecast, & Trends Analysis by Type (Beverages, Food, Beauty and Cosmetics, Tickets, Games & Amusement), Application (Hotels & Restaurants, Corporate Offices) and Geography

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Vending Machine Market by Type (Beverages, Food, Beauty and Cosmetics, Tickets, Games & Amusement), Application (Hotels & Restaurants, Corporate Offices), and Geography-Forecast to 2031

The research report titled 'Vending Machine Market by Type (Beverages, Food, Beauty and Cosmetics, Tickets, Games & Amusement), Application (Hotels & Restaurants, Corporate Offices), and Geography-Forecast to 2031' provides an in-depth analysis of the vending machine market across five major geographies and emphasizes on the current market trends, market sizes, market shares, recent developments, and forecasts till 2031.

The vending machine market is projected to reach $32.3 billion by 2031, at a CAGR of 6.7% from 2024 to 2031. The growth of this market can be attributed to several factors, including the increasing demand for packaged food products due to fast-paced lifestyles, the rising demand for food vending machines in the corporate sector, and the increasing demand for on-the-go snacks and beverages. However, the high installation and maintenance costs may restrain the growth of this market.

Furthermore, the increasing popularity of vending machines in developed and developing economies, and the integration of AI and IoT in vending machines are expected to offer growth opportunities for the players operating in this market. However, the maintenance and restocking of machines regularly is a challenge impacting the growth of the vending machine market. Additionally, digital vending machines and contactless vending machines are the prominent trends in this market.

The vending machine market is segmented by type (beverage, {alcoholic, nonalcoholic}, food {packed food, cooked food}, beauty and cosmetics, tobacco, games & amusement, tickets, and other types), application (hotels & restaurants, corporate offices, public places, {amusement parks airports railway station hospitals malls and retail stores}, and other applications), and geography. The study also evaluates industry competitors and analyses the market at the country and regional levels.

Based on type, the vending machine market is segmented into beverage, food, beauty and cosmetics, tobacco, games & amusement, tickets, and other types. In 2024, the beverage segment is expected to account for the largest share of above 65.0% of the vending machine market. The segment's large share is attributed to the increasing demand for on-the-go snacks and beverages, high demand for coffee and energy drinks across various sectors, and rising adoption of beverage vending machines in hotels and restaurants.

However, the food segment is expected to grow at the highest CAGR during the forecast period of 2024-2031. The increasing consumer preference for ready-to-eat food products, rising demand for food vending machines in railway stations, and increasing demand for packaged food products are expected to support the growth of this segment.

Based on application, the vending machine market is segmented into hotels & restaurants, corporate offices, public places, and other applications. In 2024, the corporate offices segment is expected to account for the largest share of above 40.0% of the vending machine market. The segment's large share is attributed to the rising demand for food vending machines in the corporate sector, the rising need for employees to buy affordable and convenient food and beverages, and the increasing demand for packaged food products due to fast-paced lifestyles. In addition, the benefits of vending machines in corporate offices include increased productivity, improved employee satisfaction, saving time, and promoting health & wellness.

However, the public places segment is expected to grow at the highest CAGR during the forecast period of 2024-2031. The rising adoption of food and beverage vending machines in railway stations, the rising adoption of vending machines to buy healthcare commodities, and the rising demand for vending machines in amusement parks are expected to support the growth of this segment.

Based on geography, the vending machine market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. In 2024, Asia-Pacific is expected to account for the largest share of above 45.0% of the vending machine market. Asia-Pacific's large market share is attributed to the presence of prominent players offering advanced vending machines. For instance, in August 2021, Missfresh Limited. (China) partnered with more than 5,000 businesses in Beijing to deploy Missfresh Convenience Go Smart Vending Machines on their premises. Moreover, the Asia-Pacific region is projected to register the highest CAGR of 8.0% during the forecast period. The rapid growth of this region is mainly driven by factors such as the rising adoption of vending machines in various applications, the rising demand for digital vending machines, and the growing adoption of contactless vending machines.

Key Players:

The key players operating in the vending machine market are Fuji Electric Co., Ltd. (Japan), Royal Vendors, Inc. (U.S.), Crane Payment Innovations (U.S.), Azkoyen, S.A. (Spain), SandenVendo America, Inc. (U.S.), Selecta AG (Switzerland), JOFEMAR S.A. (Spain), Seaga Manufacturing, Inc. (U.S.), Westomatic Vending Services Ltd. (U.K.), GUANGZHOU BAODA INTELLIGENT TECHNOLOGY CO., LTD. (China), Vending.Com LLC (U.S.), Godrej & Boyce Mfg. Co. Ltd. (India), Rhea Vendors Group S.p.A. (Italy), Vendstop (India), and Hunan Xingyuan Technology Co., Ltd.(China).

Key questions answered in the report-

Which are the high-growth market segments based on type, application, and geography?
What was the historical market size for vending machines globally?
What are the market forecasts and estimates for the period 2024-2031?
What are the major drivers, restraints, opportunities, and challenges in the vending machine market?
Who are the major players, and what shares do they hold in the vending machine market?
What is the competitive landscape like in the vending machine market?
What are the recent developments in the vending machine market?
What are the growth strategies adopted by major players in the vending machine market?
What are the key geographic trends, and which are the high-growth countries?
Who are the local emerging players in the vending machine market, and how do they compete with the other players?

Scope of the Report:

Vending Machine Market Assessment-by Type

Beverages
- Alcoholic
- Non-alcoholic
Food
- Packed Food
- Cooked Food
Beauty and Cosmetics
Tabacco
Games & Amusement
Tickets
Other Types

Vending Machine Market Assessment-by Application

Hotels & Restaurants
Corporate Offices
Public Places
- Amusement Parks
- Airports
- Railway Station
- Hospitals
- Malls and Retail Stores
Other Applications

Vending Machine Market Assessment-by Geography

North America
- U.S.
- Canada
Europe
- U.K.
- Germany
- France
- Spain
- Italy
- Poland
- Switzerland
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Singapore
- South Korea
- Australia & New Zealand
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- Saudi Arabia
- UAE
- Rest of the Middle East & Africa

Product Code: MRICT - 1041178

1. Introduction

1.1. Market Definition & Scope
1.2. Currency & Limitations
- 1.2.1. Currency
- 1.2.2. Limitations

2. Research Methodology

2.1. Research Approach
2.2. Process of Data Collection and Validation
- 2.2.1. Secondary Research
- 2.2.2. Primary Research/Interviews with Key Opinion Leaders of the Industry
2.3. Market Sizing and Forecast
- 2.3.1. Market Size Estimation Approach
- 2.3.2. Growth Forecast Approach
2.4. Assumptions for the Study

3. Executive Summary

3.1. Overview
3.2. Market Analysis, by Type
3.3. Market Analysis, by Application
3.4. Market Analysis, by Geography
3.5. Competitive Analysis

4. Market Insights

4.1. Overview
4.2. Factors Affecting Market Growth
- 4.2.1. Drivers
  - 4.2.1.1 Increasing Demand for Packaged Food Products Due to Fast-paced Lifestyles
  - 4.2.1.2 Rising Demand for Food Vending Machines in the Corporate Sector
- 4.2.2. Restraints
  - 4.2.2.1. High Installation and Maintenance Cost
- 4.2.3. Opportunities
  - 4.2.3.1. Increasing Popularity of Vending Machines in Developed and Developing Economies
  - 4.2.3.2. Integration of AI and IoT in Vending Machines
- 4.2.4. Challenges
  - 4.2.4.1. Maintenance and Restocking of Machines Regularly
4.3. Key Trends
- 4.3.1. Digital Vending Machines
- 4.3.2. Contactless Vending Machines
4.4. Vendor Selection Criteria/Factors Influencing Purchase Decisions
4.5. Case Studies

5. Global Vending Machine Market Assessment-by Type

5.1. Overview
5.2. Beverages
- 5.2.1. Alcoholic
- 5.2.2. Non-alcoholic
5.3. Food
- 5.3.1. Packed Food
- 5.3.2. Cooked Food
5.4. Beauty and Cosmetics
5.5. Tobacco
5.6. Games & Amusement
5.7. Tickets
5.8. Other Types

6. Global Vending Machine Market Assessment-by Application

6.1. Overview
6.2. Hotels & Restaurants
6.3. Corporate Offices
6.4. Public Places
- 6.4.1. Amusement Parks
- 6.4.2. Airports
- 6.4.3. Railway Station
- 6.4.4. Hospitals
- 6.4.5. Malls and Retail Stores
6.5. Other Applications

7. Vending Machine Market Assessment-by Geography

7.1. Overview
7.2. North America
- 7.2.1. U.S.
- 7.2.2. Canada
7.3. Europe
- 7.3.1. U.K.
- 7.3.2. Germany
- 7.3.3. France
- 7.3.4. Spain
- 7.3.5. Italy
- 7.3.6. Poland
- 7.3.7. Switzerland
- 7.3.8. Rest of Europe
7.4. Asia-Pacific
- 7.4.1. China
- 7.4.2. Japan
- 7.4.3. India
- 7.4.4. Singapore
- 7.4.5. South Korea
- 7.4.6. Australia & New Zealand
- 7.4.7. Rest of Asia-Pacific
7.5. Latin America
- 7.5.1. Brazil
- 7.5.2. Mexico
- 7.5.3. Rest of Latin America
7.6. Middle East & Africa
- 7.6.1. Saudi Arabia
- 7.6.2. UAE
- 7.6.3. Rest of the Middle East & Africa

8. Competition Analysis

8.1. Overview
8.2. Key Growth Strategies
8.3. Competitive Benchmarking
8.4. Competitive Dashboard
- 8.4.1. Industry Leaders
- 8.4.2. Market Differentiators
- 8.4.3. Vanguards
- 8.4.4. Emerging Companies
8.5. Market Ranking, by Key Players

9. Company Profiles

9.1. Fuji Electric Co., Ltd.
9.2. Royal Vendors, Inc.
9.3. Crane Payment Innovations
9.4. Azkoyen, S.A.
9.5. SandenVendo America, Inc.
9.6. Selecta AG
9.7. JOFEMAR S.A.
9.8. Seaga Manufacturing, Inc.
9.9. Westomatic Vending Services Ltd.
9.10. GUANGZHOU BAODA INTELLIGENT TECHNOLOGY CO., LTD.
9.11. Vending.Com LLC
9.12. Godrej & Boyce Mfg. Co. Ltd.
9.13. Rhea Vendors Group S.p.A.
9.14. Vendstop
9.15. Hunan Xingyuan Technology Co. Ltd.

10. Appendix

10.1. Available Customization