Global Beverage Vending Machine Market: Introduction
The advancement in the technology and elimination of middlemen led to the establishment of the vending machines. The vending machine is an easily accessible way of selling or offering goods and services via machines. The electronically run vending machines are coin or swipe card operated and provide different products such as beverages, snacks, cigarettes and non-food merchandise such as tools, shoes, umbrellas and other products.
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Global Beverage Vending Machine Market: Dynamics
The significant growth of the packaged beverage industry is one of the critical driving factors fueling the growth of the beverage vending machine market. The increasing demand for ready-to-drink or packaged beverage among consumers is the driving factor that is stimulating the growth of the beverage vending machine industry.
In hotels and restaurants, beverage vending machine has been established additionally to attract consumers and to provide extra service to the guests with an influential sale of the product. The establishment of a beverage vending machine in restaurants, hotels and airports is expected to boost the growth of the global market.
The instant service and variety of products offered by a beverage vending machine attracts consumer and drives the growth of the global market. Moreover, the beverage vending machine provides cashless payment options such as smartphones payment systems which boost the growth of market over the forecast period. The high initial installation cost of beverage vending machine restraints the growth of the global market.
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everage Vending Machine Market: Regional Outlook
The global beverage vending machine market can be segmented into seven regions as North America, Latin America, Europe, Japan, APEJ (the Asia Pacific excluding Japan), CIS & Russia and MEA. Among all the regions, North America is expected to hold the highest share of the beverage vending machine market due to the preference for the packaged beverages among consumers. The growth of packaged beverage industry is expected to play a crucial role for the growth of the global beverage vending machine market.
The APEJ region is anticipated to show a healthy growth for the beverage vending machine market over the forecast period. China and India are considered to show robust growth for the beverage vending machine market due to the rise in beverage industry among growing urban population. CIS & Russia and MEA region are predicted to show moderate growth for the beverage vending machine market. According to our insights, the global beverage vending machine market will grow significantly over the forecast period, 2018-2028.
Global Beverage Vending Machine Market: Prominent Players
Some of the major players operating in beverages vending machine market are Innovative Vending Solutions LLC, Abberfield Technology Pty. Ltd, Fuji Electric Co. Ltd., Bulk Vending Systems Ltd, GTECH Corp, Cantaloupe Systems Inc., American Vending Machine Inc., Azkoyen SA, UK Vending Ltd, Bianchi Vending Group SpA and USA Technologies Inc. among others.
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