Yahoo Finance Europe Vending Machine Market Report 2021: Market is Anticipated to Reach $27.21 Billion by 2028, at a CAGR of 8.9%
Dublin, Dec. 09, 2021 (GLOBE NEWSWIRE) -- The "Europe Vending Machine Market 2021 - 2028" report has been added to ResearchAndMarkets.com's offering.
The Europe vending machine market size is anticipated to reach USD 27.21 billion by 2028, registering a CAGR of 8.9%
One of the primary factors driving the market's growth is the rising demand for cashless vending machines. Smart vending machines are becoming increasingly common as these intelligent machines use an attention-getting interactive multi-media display to provide a wide choice of products to clients.
Moreover, the growing popularity of unattended retail stores and its rising acceptance among consumers supports the market growth. Operators who invested in security tools, such as locking coolers and camera monitoring, have started placing them in semi-public and public-facing micro markets. This will be an interesting trend to watch, especially in the post-COVID-19 world, where consumers could seek out unattended retail options and contactless payments for safety reasons.
There has been an overall growth in the demand for healthy food and drink products in vending machines over the past few years. In 2017, according to a survey by IRI International, two-thirds (70%) of people across Europe bought healthy food with less salt, sugar, fat, and calories.
This is an increase of 41% in just three years. In addition, vending machines have emerged in recent years as a favorable, cost-effective option for corporates to provide easy, around-the-clock access to food for their employees. Vending machines also provide a place for conversation, away from the cubicles, positively impacting the overall atmosphere of an office. Popular options, such as chips and soda, provide no nutritional value. However, healthy food options can encourage and motivate employees.
Thus, vending machine operators are increasingly offering healthier food products. This also allows the operators to widen their product stock and boost sales.
Furthermore, the market is quickly adapting to the trend of cashless transactions, with a massive drive to replace (or update) coin-based machines and to integrate contactless terminals into the design of all new systems. Though chip-and-pin is widely used, it is contactless card payments that will continue to drive the trend of cashless payment forward.
According to the report on COVID-19 impact on vending published by EVA, 48% of operators saw a reduction in turnover in September 2020 between 21%-40%. It started to recover after many countries in the region lifted restrictions and allowed people to step out of their homes. Work-from-home was the major factor impacting the revenue generation of operators.
Over 80% of the vending machines (including hot beverages) are located in workplaces. Since many companies in the region are inclined toward 4 days/week working policy, they generated significant revenue before the pandemic but were severely impacted during the pandemic. However, the pandemic has created opportunities for new entrants, since micro markets require minimal physical contact.
In November 2020, Grafenwoehr Exchange opened its first micro-market in Germany, Europe. The micro-market was opened in collaboration with Tasty Co., a mini convenience store with an open-rack display, reach-in coolers and freezers, and a self-checkout kiosk. The product portfolio varies from fresh fruits and vegetables to pre-made sandwiches and snacks. According to EVA, micro markets have now been reported in 13 of the 22 markets covered, with Sweden and Russia leading the way.
Europe Vending Machine Market Report Highlights
The market is expected to grow with a CAGR of 8.9% from 2021 to 2028
The traditional vending machine type segment accounted for the largest revenue share of more than 78% in 2020 and is expected to expand further at a steady CAGR over the forecast period
The commercial places application segment is expected to register the fastest CAGR over the forecast period
The cash payment mode segment led the regional market in 2020 with a revenue share of more than 72% in 2020
Italy was the leading country in 2020 and accounted for the largest share of the total revenue in the same year
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Global Vending Machine Market Outlook
Chapter 4. Europe Vending Machine Market Variables, Trends & Scope
Chapter 5. Consumer Behavior Analysis
Chapter 6. Europe Vending Machine Market: Type Estimates & Trend Analysis
Chapter 7. Europe Vending Machine Market: Application Estimates & Trend Analysis
Chapter 8. Europe Vending Machine Market: Payment Mode Estimates & Trend Analysis
Chapter 9. Europe Vending Machine Market: Regional Estimates & Trend Analysis
Chapter 10. Competitive Analysis
Chapter 11. Company Profiles
Selecta TMP AG
Delikia Fresh
Alliance Vending Services
IVS Iberica
Costa
NVCS Ltd
Express Vending
Nayax Ltd
Worldline
ventopay gmbh
On Track Innovations Ltd
CCV Group B.V.
For more information about this report visit https://www.researchandmarkets.com/r/cebhs2
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