The food and beverage vending machine market is anticipated to grow at a CAGR of 9.16% from US$13,154.431 million in 2022 to US$24,287.777 million by 2029.

NOIDA, UTTAR PARDESH, INDIA, March 20, 2024 /EINPresswire.com/ -- According to a new study published by Knowledge Sourcing Intelligence, the food and beverage vending machine market is projected to grow at a CAGR of 9.16% between 2022 and 2029 to reach US$24,287.777 million by 2029.

One of the key growth drivers to propel the food and beverage vending machine market during the forecasted period is the growth of the fast food and beverages industry. These industries are more profitable as they cut out the middlemen and invest heavily in prime locations.

Another factor that boosts the sales of food and beverage vending machines in the market is the prevalence of vending machines in places like restaurants, hotels, airports, universities and colleges, train or metro stations, and corporate offices. Also, end users are being used to more instant service with advancing technology. For instance, vending machines provide snacks without users traveling to the nearest grocery stores, and the instant payment applications that are developed contribute to the growth of the market over the forecasted period.

Access sample report or view details: https://www.knowledge-sourcing.com/report/food-and-beverage-vending-machine-market

The food and beverage vending machine market, by technology type, is divided into two types- snack vending machine, and beverage vending machine. There are different needs for end-users regarding their choice of beverage or snack. These vending machines each for beverages and snacks provide a wide variety catering to almost every user's choice of snack and beverage. Therefore, these different types of technology available in vending machines are predicted to grow the market.

The food and beverage vending machine market, by type, is divided into three types- corporate, public infrastructure, and retailer. There is a rise in demand for these beverages and snacks industry. The different public locations like metro stations, restaurants, and other places along with corporate offices and many more all have vending machines for an instant snack and refreshments during the day. This instant snack and beverage availability at various locations is predicted to fuel the market.

The North American region is expected to witness significant growth in the food and beverage vending machine market during the forecasted period as this region has a rise in demand for food and beverage over the years due to a rise in disposable income among the general public. The USA is one of the countries in the North American region that has grown rapidly in urbanization and disposable income which led to a rise in demand for food and beverage vending machines in the region. Also, the increase in establishments like stores in the region where the use of food and beverage vending machines is needed therefore, the market is predicted to grow over the forecast period in the North American region.

The research includes several key players from the food and beverage vending machine market, such as Innovative Vending Solutions, Bulk Vending Systems Ltd., UK Vending Ltd, Grupo Azkoyen, Bianchi Industry S.p.A., Automated Merchandising Systems Inc. (Seaga Manufacturing), Fuji Electric Co., Ltd., and Crane Payment Innovating.

The market analytics report segments the food and beverage vending machine market using the following criteria:

• By Type:

o Snacks Vending Machine
o Beverage Vending Machine
o Others

• By End User:

o Corporate
o Public Infrastructure
o Retailer
o Others

• By Geography:

o North America

• USA
• Canada
• Mexico

o South America

• Brazil
• Argentina
• Others

o Europe

• U.K.
• Germany
• France
• Others

o Middle East and Africa

• UAE
• South Africa
• Israel
• Saudi Arabia
• Others

o Asia Pacific

• China
• Japan
• India
• Australia
• Taiwan
• South Korea
• Others

Companies Mentioned:

• Innovative Vending Solutions
• Bulk Vending Systems Ltd.
• UK Vending Ltd
• Grupo Azkoyen
• Bianchi Industry S.p.A.
• Automated Merchandising Systems Inc. (Seaga Manufacturing)
• Fuji Electric Co., Ltd.
• Crane Payment Innovating

Explore More Reports:

• Global Beverage Market: https://www.knowledge-sourcing.com/report/global-beverage-market

• Kids Food And Beverage Market: https://www.knowledge-sourcing.com/report/kids-food-and-beverages-market

• Packaged Beverage Market: https://www.knowledge-sourcing.com/report/packaged-beverage-market

Ankit Mishra
Knowledge Sourcing Intelligence LLP
+1 850-250-1698
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