The global vending machine market size reached US$ 19.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 26.4 Billion by 2028, exhibiting a growth rate (CAGR) of 5% during 2023-2028.
A vending machine is a standalone automated device that dispenses small-sized products in exchange for tokens or cash. It is used for dispensing food products, such as packaged snacks, chocolate bars, cupcakes, pizzas, hot and cold beverages and candies. They are also used for providing toys, newspapers, cigarettes and tickets. The products are loaded into the machine and are available for purchase throughout the day. The machine dispenses the product corresponding to the item number or button selected by the consumer. It also consists of bill and coin validators, computer control boards, refrigeration units and lighting systems to automate the vending process and provide a seamless experience to the user. As a result, vending machines are widely used in public spaces, commercial complexes, restaurants and hotels.
Vending Machine Market Trends:
Significant growth in the retail industry across the globe is one of the key factors creating a positive outlook for the market. Moreover, the increasing requirement for automated product distribution systems across airports, hospitals, school canteens, railway and petrol stations and industrial plants is providing a thrust to the market growth. Various technological advancements, such as the development of reverse vending machines (RVM), are acting as other growth-inducing factors. These machines enable the customer to insert used or empty plastic containers and aluminum cans in exchange for a reward. Product manufacturers are also launching novel variants with integrated touch-screen panels, gesture-, video-, audio and scent-based interactions and cashless payment functionalities. In line with this, the widespread adoption of self-service technology across industries is also contributing to the growth of the market. Other factors, including the increasing expenditure capacities of the consumers, along with the rising demand for the Internet of Things (IoT) and cloud computing-enabled industrial vending machines, are anticipated to drive the market toward growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global vending machine market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, technology, payment mode and application.
Breakup by Type:
Food Vending Machine
Beverages Vending Machine
Tobacco Vending Machine
Breakup by Technology:
Breakup by Payment Mode:
Breakup by Application:
Hotels and Restaurants
Breakup by Region:
Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being 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 and Westomatic Vending Services Ltd.
Key Questions Answered in This Report
1. What was the size of the global vending machine market in 2022?
2. What is the expected growth rate of the global vending machine market during 2023-2028?
3. What are the key factors driving the global vending machine market?
4. What has been the impact of COVID-19 on the global vending machine market?
5. What is the breakup of the global vending machine market based on the type?
6. What is the breakup of the global vending machine market based on the technology?
7. What is the breakup of the global vending machine market based on the payment mode?
8. What is the breakup of the global vending machine market based on the application?
9. What are the key regions in the global vending machine market?
10. Who are the key players/companies in the global vending machine market?