The global capsule coffee machine market was valued at USD 1,278.05 million in 2020 and is expected to reach USD 1.78 million by 2028, expanding at a CAGR of 4.5% during the forecast period, 2021 – 2028. The growth of the market is attributed to prominent usage of single serve coffee, particularly in western countries.
A coffee capsule machine is a method for coffee brewing, which prepares a single portion of coffee. Number of orders placed for capsule machines has increased by almost 50% to 55% in the last few years. K-Cup and Nespresso are the top brands in online sales of capsule coffee machines in the US.
The report on the capsule coffee machine market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
|Report Title||Capsule Coffee Machine Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast|
|Segmentation||Applications (Commercial and Household)|
|Regional Scope||Asia Pacific, North America, Latin America, Europe, and Middle East & Africa|
|Report Coverage||Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast|
|Key Players Covered||Nestlé Nespresso SA, Jacobs Douwe Egberts Pro, Keurig Green Mountain, Inc., Dualit Limited, Dunkin Brands, Koninklijke Philips N.V., Starbucks Corporation, illycaffè S.p.A, and LUIGI LAVAZZA SPA|
The commercial segment held more than 50% share of the total revenue in 2018
Based on applications, the global capsule coffee machine market is segregated as commercial and household. The commercial segment is expected to expand at a robust CAGR during the forecast period. Rising number of restaurants and cafes in Italy, the US, France, India, and Japan has led to an increase in quick brewing machines to fulfill the needs of busy consumers. Additionally, increasing trend of coffee breaks in offices is encouraging consumers to consume this beverage, as it has mind-boosting and stress-releasing benefits. Availability of the capsules in various flavors has increased its applications in the commercial sector.
The household application segment is expected to expand at a substantial CAGR of 5% during the forecast period. Changing consumer preference towards specialty coffee with various flavors is projected to drive the household segment in regions with high consumption rates such as Germany, the US, Japan, and Switzerland. People in western countries prefer home-brewed coffee, which is expected to drive the market.
The European market held a major share of more than 33% of the total revenue in 2018
On the basis of regions, the global capsule coffee machine market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in Europe is expected to expand at a substantial CAGR during the forecast period. Increasing consumption of coffee coupled with changing preference of flavors is boosting the market in the region. Countries such as the UK, Finland, Germany, and Switzerland are majorly contributing to the market growth. Consumers are willing to pay high prices for specialty and premium beverages in small roasters, baristas, and cafes. This in turn, is boosting the market in the region.
The market in Asia Pacific is estimated to expand at a rapid pace during the forecast period. Increasing awareness among consumers about technologically advanced products has increased the demand for the product in the region. Emerging countries such as China and India are anticipated to contribute to the market growth attributed to rising trend and inclination of consumers towards consumption of coffee. Additionally, the regional growth is attributed to establishment of a large number of cafes in the region. Busy lifestyle of people is estimated to encourage the trend of quick refreshment. This has boosted the demand for quick and single-serve offerings for household consumption.
Significant consumption of coffee is witnessed among the millennials in the US. According to recent research from the US National Coffee Association in 2018, almost 80% of the population drinks coffee in the US, out of which 60% of adults consume it daily. Additionally, around 70% of the population in US prefers consuming home-brewed coffee, which is estimated to fuel the market in the region.
Segments Covered in the Report:
The global capsule coffee machine market has been segmented on the basis of
Key players in the global capsule coffee machine market include Nestlé Nespresso SA, Jacobs Douwe Egberts Pro, Keurig Green Mountain, Inc., Dualit Limited, Dunkin Brands, Koninklijke Philips N.V., Starbucks Corporation, illycaffè S.p.A, and LUIGI LAVAZZA SPA. Key players are using strategies such as mergers and acquisitions and new product launches to gain maximum market share. Additionally, companies are concentrating on increasing their production capacity and are implementing innovative technologies to fulfill the consumer demand for coffee capsule machines.
Some other reports from this category!