Food and beverages vending machine to grow over 3% in 2018-2022

The global vending machine food and beverages market is expected to grow at a CAGR of over 3% during the period 2018-2022, according to the latest market research report by Technavio.

A major factor driving the market’s growth is the increasing popularity of vending machines. The convenience factor offered by vending machines makes them popular among consumers.

 

The number of vending machines in schools and offices is increasing and new vending machines are being installed due to the increasing popularity of vending machines. Japan has the highest number of vending machines per capita in the world.

 

This market research report on the global vending machine food and beverages market 2018-2022 provides an analysis of the most important trends expected to impact the market outlook during the forecast period.

 

Technavio predicts an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.

 

In this report, Technavio highlights the innovations in vending machines as one of the key emerging trends in the global vending machine food and beverages market:

 

Global vending machine food and beverages market trend: Innovations in vending machines

 

One of the positive trends that will influence the growth of food and beverages through vending machines include the innovation associated with optimizing vending machines.

 

Players in the market are introducing innovative vending machine technology that allows cashless vending machines to accept payments that are made through credit cards, debit cards, and mobile payments.

 

“The ease of convenience offered by cashless payments will help accelerate the sales of food and beverage products through vending machines during the forecast period. The significant growth in near field technology is also responsible for the increasing popularity of cashless transactions through vending machines,” says a senior analyst at Technavio for research on food service.

 

Global vending machine food and beverages market: Segmentation analysis

 

This market research report segments the global vending machine food and beverages market into the following applications (beverages and food) and key regions (the Americas, APAC, and EMEA).

 

The beverages segment held the largest market share in 2017, accounting for more than 78% of the market. This application is expected to dominate the global market throughout the forecast period.