Vending Machine Market to Reach $37.2 Billion, Globally, by 2032 at 7.5% CAGR: Allied Market Research
PORTLAND, Ore., July 19, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Vending Machine Market By Type (Food Vending Machine, Beverages Vending Machine, Tobacco Vending Machine, Others Vending Machine), By Application (Hotels And Restaurants, Corporate Offices, Public Places, Others), By Technology (Automatic Machine, Semi-Automatic Machine, Smart Machine), By Sales Channel (Online, Offline): Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the global Vending Machine Market generated $18.3 billion in 2021 and is anticipated to generate $37.2 billion by 2032, witnessing a CAGR of 7.5% from 2023 to 2032.
- The increase in demand for food vending machines in offices/institutions, the rise in consumption of convenience food items, and the adoption of smart customer service technologies in several food categories drive the growth of the global vending machine market
PORTLAND, Ore., July 19, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, " Vending Machine Market By Type (Food Vending Machine, Beverages Vending Machine, Tobacco Vending Machine, Others Vending Machine), By Application (Hotels And Restaurants, Corporate Offices, Public Places, Others), By Technology (Automatic Machine, Semi-Automatic Machine, Smart Machine), By Sales Channel (Online, Offline): Global Opportunity Analysis and Industry Forecast, 2023-2032". - According to the report, the global Vending Machine Market generated $18.3 billion in 2021 and is anticipated to generate $37.2 billion by 2032, witnessing a CAGR of 7.5% from 2023 to 2032.
- Based on type, the beverages vending machine segment held the highest market share in 2022, accounting for more than three-fifths of the global vending machine market revenue and is estimated to maintain its leadership status throughout the forecast period.
- However, the food vending machine segment is projected to manifest the highest CAGR of 8.4% from 2023 to 2032.