Office and Commercial Coffee Equipment and Supplies Market Size to Grow by $ 5.43 bn During 2021-2025
Technavio has been monitoring the office and commercial coffee equipment and supplies market and it is expected to grow by $ 5.43 bn, accelerating at a CAGR of almost 4% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking
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Office And Commercial Coffee Equipment And Supplies Market: APAC to lead market growth during the forecast period
Office And Commercial Coffee Equipment And Supplies Market: Key Competitors
The market is fragmented. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Bunn-O-Matic Corp., Coffee Day Enterprises Ltd., DeLonghi Spa, Farmer Bros Co., Groupe SEB, Hamilton Beach Brands Holding Co., JAB Holding Co. Sarl, Nestle SA, Simonelli Group Spa, and The Coca-Cola Co. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
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Office And Commercial Coffee Equipment And Supplies Market: Key Highlights of the Report for 2021-2025
Technavio has been monitoring the Global office and commercial coffee equipment and supplies (OCCES) market and it is expected to grow by $ 5.43 billion, accelerating at a CAGR of almost 4% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking. View Free Sample Report
Market Driver: Introduction of innovative products to drive growth
The introduction of innovative products will increase the sales of coffee equipment and supplies, especially in office spaces. The majority of the office spaces, foodservice chains, and other commercial spaces have coffee-making and dispensing machines. Hence, coffee-making and dispensing machines are ubiquitous, which has been creating immense growth opportunities for market vendors. To improve their sales and customer base, companies have been extending their product lines with innovative coffee equipment. Vendors have introduced machines that can brew many types of coffee beverages such as espresso, dip-style coffee, long espresso, cappuccino, and others. This saves amenities cost for end-users as they have to invest in just one machine.
Leading End-user Segments: Offices, Healthcare and hospitality, Education, and Others
The offices segment was the largest end-user segment of the global OCCES market. Offices install different types of coffee machines with different capacities (single-serve, multi-serve, brewers, and espresso machines) based on their requirements. With the increasing number of office spaces and rising employment rates, the demand for OCCES will grow across the globe.
However, the post COVID-19 impact has brought forth a slowdown in the offices segment growth owing to the adoption of work from home solutions by corporates. This report provides an accurate prediction of the contribution of all the segments to the growth of the office and commercial coffee equipment and supplies market size.
Key Emerging Trend: Automatic coffee dispensing machines
Key office and commercial coffee equipment and supplies market trends, such as the popularity of automatic coffee dispensing machines, will fuel market growth over the forecast period. Automatic coffee dispensing machines are conventional among office spaces. These machines have digital touch panels, making it easy for the consumer to brew coffee in a jiffy. The coffee supplies such as on-the-go disposable coffee cups with lids, make consumption of beverages more convenient. Vendors have made most of their products available online because of the rising e-commerce market. Product features can be easily compared on online retail platforms, helping end-users in making an informed decision before the purchase.
Office and Commercial Coffee Equipment and Supplies Market: Vendor Analysis
The market is fragmented due to the presence of several players. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Bunn-O-Matic Corp., Coffee Day Enterprises Ltd., DeLonghi Spa, Farmer Bros Co., Groupe SEB, Hamilton Beach Brands Holding Co., JAB Holding Co. Sarl, Nestle SA, Simonelli Group Spa, and The Coca-Cola Co. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
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