Author: Vikas Kumar
12 January 2023
The Retail Vending Machine Market is expected to grow at a CAGR of 8% from 2022-2028. A vending machine is a customer service machine that operates without the aid of human intervention. It provides different consumer products into the machine using extremely simple steps. in the retail trade for the selling of food and non-food items as well as convenience products. Selling cold and hot drinks was the predominant business in the past, but at present, the variety of goods and services marketed with vending machines is steadily increasing.
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Based on the type, the retail vending machine market is classified into food retail vending machine, beverage retail vending machine, games/amusement retail vending machine, tobacco retail vending machine, candy & confectionery retail vending machine, beauty & personal care retail vending machine, and ticket retail vending machine. The beverage segment caters substantial share of the market. The soaring preference for coffee and energy drinks among young consumers and the high demand for coffee and energy drinks are driving the growth of this segment. Beverage vending machines are often placed in the lobby of a hotel to generate continuous revenue as they are immensely popular in hotels for guests who prefer a beverage or a small snack instead of a full meal.
Based on payment mode, the retail vending machine market is segmented into cash retail vending machines and cashless retail vending machines. The cash retail vending machines segment caters considerable share of the market. Factors such as increased access to online gambling and betting through mobile phones coupled with advanced features such as improved graphics and extended storage capacity in a smartphone are making it convenient for gamblers proliferating the market. In addition, mobile online gambling offers several advantages to gamers, such as loyalty points, additional deposit options, and multiplayer gaming options with players located anywhere throughout the globe.
Based on application, the retail vending machine market is classified into commercial places, offices, public places, and others. The commercial places segment caters considerable share of the market. The cost occurs by an unattended retail shop is extremely low which is driving the demand for the retail vending machine in commercial places.
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For a better understanding of the market adoption of the Retail Vending Machine industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, and Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), of World. North America is anticipated to grow at a substantial CAGR during the forecast period. This is mainly attributed to the rise of self-service technology in this region has created new business avenues for retail vending machines. Moreover, with a growing go-to-snacking culture and rising demand for coffee and energy drinks consumers various retail vending machine operators are focusing on launching their businesses in strategic locations across the region.
Some of the major players operating in the market Azkoyen Group, Cantaloupe Systems Inc., Westomatic Vending Services Limited, Royal Vendors Inc., Glory Ltd., Sanden Holding Corp., Seaga Manufacturing Inc., Orasesta S.p.A, Sellmart S.r.L, Fuji Electric Co. Ltd.
Global Retail Vending Machine Market Segmentation
Market Insight, by Type
• Food Retail Vending Machine
• Beverage Retail Vending Machine• Games/Amusement Retail Vending Machine• Tobacco Retail Vending Machine• Candy & Confectionery Retail Vending Machine• Beauty & Personal Care Retail Vending Machine• Ticket Retail Vending Machine
Market Insight, by Payment Mode
Market Insight, by Application
Market Insight, by Region
Top Company Profiles
• Azkoyen Group
• Cantaloupe Systems Inc.• Westomatic Vending Services Limited• Royal Vendors Inc.• Glory Ltd.• Sanden Holding Corp.• Seaga Manufacturing Inc.• Orasesta S.p.A• Sellmart S.r.L• Fuji Electric Co. Ltd.
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