"Overview of Capsule Coffee Machine Market"
The Capsule Coffee Machine Market Is Forecasted To reach At US$ 6.2 Bn By 2027, Growing at a CAGR Of 8.0 % during the Forecast Period
The global capsule coffee machine is at its booming stage and it is anticipated to gain momentum in the coming years. Some of the factors fuelling the growth of global market include high consumption rate in European countries, product innovations, rising adoption from several economies owing to the significant features of the capsule coffee machine.
Rising Trend for Coffee Consumption and Popularity of Speciality Beverages is Fuelling the Market Growth
The rising number of coffee consumers in developed countries such as Canada, Brazil, and the U.S. is expected to propel the market growth. According to a study conducted by the National Coffee Association. In 2018 more than 80 % of people consume coffee in the United States in which 60 % of people are daily coffee consumers. The capsule coffee machines are lighter in weight and provide ease of operation which is turns increasing its adoption in the residential and commercial sector. Moreover, it has been observed that consumers are shifting towards homemade beverages which are expected to surge the demand for these machines and boost the growth of the global market.
Commercial Segment is leading the Global Market Whereas the Household Segment is anticipated to expand at Rapid pace During the Forecast Period
Based on end-user, the commercial segment held larger market share and leading the global market. The growing number of restaurants and cafes in France, U.S., Japan, and India has resulted in the spur in demand for quick beverages machines. Moreover, the rate of the coffee consumer is increasing rapidly due to long working hours which leads to high demand for refreshments in breaks. Also, the coffee capsule consists of several flavour options with great taste. These factors are expected to support the growth of the commercial segment.
However, the household segment is expected to gain momentum in the coming years. Consumer’s inclination towards home-brewed beverages and popularity of coffee capsules offering various flavours in developed continents including Switzerland, U.S., Japan, and Germany is estimated to fuel the growth of the household segment. According to a study conducted by National Coffee Association trends, in 2017, more than 25% of U.S. households purchased their own brewing machines.
Europe is Anticipated to Hold Largest Share in the Global Market
By geography, Europe is anticipated to be the dominant region over the forecast period. The growth of the region is propelled by high coffee consumption rate in European countries. Moreover, the rising popularity and preference of different flavours and willingness to spend for speciality and premium beverages in baristas, small, roasters, and cafes are expected to create new growth opportunities for the region. Germany, Switzerland, U.K., and Finland are the major contributor for capsule coffee machine market in Europe.
On the other hand, the APAC region is forecasted to witness phenomenal growth in the coming years. Rising promotional activities conducted by manufacturers are expected to boost the sale of these machines in the Asia Pacific. Changing lifestyle and rising prevalence of quick refreshments in emerging economies such as China and India are expected to fuel the growth of the region. Moreover, the growing number of cafes and rising adoption from the working population is expected to widen the scope of regional growth.
In March 2019, Lavazza announced the launch of a new range of coffee machines in India under the brand name Lavazza Blue. The new range includes Classy Mini, Classy Compact, and Classy Milk. The launch was intended to expand their geographical presence. The design received the recognized design awards Red Dot awards and iF Design for its elegant and compact design.
In February 2018, Hyundai Green Food Co., a leading foodservice company based out of South Korea unveiled a pod coffee machine branded as h’_kaffee.
Similarly, in December 2018, Nescafe announced the launch of their new capsule coffee machine. The machine offers forty different drink choices including cold beverages, hot chocolate, cappuccino, grande, and espresso.
Some of the major players operating in global capsule coffee machine market include illycaffè S.p.A., Keurig Green Mountain, Inc., Koninklijke Philips N.V., Nestlé Nespresso SA, LUIGI LAVAZZA SPA, Dualit Limited, Dunkin Brands, Starbucks Corporation, and Jacobs Douwe Egberts Pro.
Global Capsule coffee machine Market by End-User
Global Capsule coffee machine Market by Region
- North America
- Asia Pacific
- Middle East & Africa
- Latin America