Coffee Machine Market Forecast, Growth 2021-2027

1. Coffee Machine Market, By Product Type, Trend Analysis, Share, Forecast,2021-2027

2. Industry Trends & Forecast Report 2027 A study recently conducted by the strategic consulting and market research firm BlueWeave Consulting revealed that the global coffee machines market was worth USD 3.4 billion in 2020 and is further projected to reach USD 5.2billion by 2027, at a CAGR of 6.4% during the forecast period (2021-2027).The market is driven by growing coffee consumption throughout the world. The proliferation of coffee shop chains such as Starbucks, Café Coffee Day, and the rising trend of social gatherings among millennials in cafés and restaurants are also playing a significant role in fueling the global coffee machine market. Additionally, a growing inclination towards technologically advanced appliances in hotels, restaurants, and cafés. coupled with the rising demand for espresso coffee machines are responsible for the market expansion.

3. Growth drivers Rising Coffee Consumption Fueling the Global Coffee Machine Market Coffee consumption has become a part of the daily routine in urban areas of different countries. Due to the stimulant properties of caffeine, coffee has the potential to boost brain alertness. It also produces a strong stimulation effect on the nervous system. Besides that, it also serves as an energy source. Due to these factors, coffee consumption is increasing rapidly across the globe. Moreover, a report claimed that in 2021, around 166.63 million 60-kilogram bags of coffee were consumed worldwide, as compared to 164 million bags consumed the previous year.Therefore, the coffee machine market is benefitting from the growing consumption of coffee.

4. Restraints Increased Awareness on the Adverse Effects of Excessive Caffeine Consumption The growing addiction to coffee has also led to serious health problems among people. Overconsumption of coffee may lead to severe adverse health effects. Heart disease, bone and calcium deficiency, behavioral changes in adults, and an increase in cancer incidence are among these effects. Based on the NCBI research/meta-analysis of 17 studies involving 233,617 participants, caffeine consumption may increase the risk of a heart attack in men. Thus, the rising awareness about the dangers of excess coffee consumption is restricting the market growth.

5. Impact of COVID-19 The COVID-19-induced pandemic has caused economic hardship in several nations around the globe. Because of the high infection rates and severe impact on public health systems, many countries had to impose nationwide lockdowns, which significantly affected industrial supply chains, trade, and related services. As a result of the lockdown in China during the early phase of the pandemic, coffee machine manufacturers in the United States and Europe were forced to temporarily suspend production as many inputs are imported from China. Moreover, customers who used to frequent coffee shops became more concerned about contracting the virus. The number of walk-in customers at coffee shops and restaurants declined dramatically as a result. Thus, the demand for coffee machines witnessed a sharp decline during the pandemic.

6. Global Coffee Machine Market: By Product Based on products, the global coffee machine market is divided into drip filter, capsule, espresso, and bean-to-cup. Different types of coffee machines are used based on the use, serving place, and type of consistency required in the coffee. The drip machines segment holds the largest market share because their filters and cones can be reused. Furthermore, some key players have introduced innovations in drip machines, which have garnered a lot of attention from customers. For example, smart drip coffee machines, such as those equipped with Wi-fi and Bluetooth connectivity can be operated by smartphones. However, the capsule coffee machines are all set to witness the fastest growth majorly due to their ease of use.

7. Global Sports Equipment Market: Regional Insights Based on regions, the global coffee machine market is divided into North America, Europe, the Asia-Pacific, the Middle East & Africa, and Latin America. Among these regions, Europe has the greatest market share due tothe high consumption of coffee in this region.Additionally, an increase in sales of coffee machines in Europe can largely be attributed to the growing demand for coffee in commercial buildings and offices. Copy of the Report : https://www.blueweaveconsulting.com/coffee-machine-market/report-sample

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