Global vending machines market to reach 25 million units by 2018
The global installed base for Vending Machines is projected to exceed 25 million units by 2018, driven by demand for healthy vended foods, functional convenience foods, advances in technology such as cashless payment systems, decreasing equipment costs, and manufacturer's focus on extending product availability. Market growth is higher in developing countries driven by increasing urbanization, rise in disposable incomes, and changing lifestyle of working class.
Technology advancements have made retailing services through vending machines more cutting edge offering compelling benefits to modern time-pressed consumers. From a crude mechanical device, vending machines have developed phenomenally over the years into a sophisticated, touch-screen operated ubiquitous machine delivering anything from live crabs and drinks to music. Vending machine technology continues to transform in recent times with the latest advancements earmarking an era of 'Intelligent vending machines'. These machines armed with a glut of hi-tech features are designed to enhance user interaction and offer unique vending experience.
With the fight against obesity and sugary sodas taking a conscious route among all layers of the society, the latest trend in the vending machines is the emergence of healthy vending machines. The market is witnessing an increasing installation of such machines to meet consumers' growing demand for healthy foods including functional foods and organic products. Demand for these healthy vending machines is more predominant in schools and other educational institutes following new laws and standards implemented by the federal government such as ban on sodas and sweetened sports drinks and setting nutritional standards for snacks sold across all schools. Further, with rising environmental awareness across the world, against the backdrop of energy resource depletion, there is an increasing emphasis on energy efficient vending machines.
The United States represents the single largest market for vending machines in terms of installed base. Of late, however, the market has been sailing in troubled waters, largely due to factors such as shifting consumer preferences, drop in discretionary spend, increasing competition from other sectors, and rising food prices. In Japan, the vending machine market has been charting a declining pattern on the revenue graph over the past decade, which highlights the region's mature market levels. Asia-Pacific represents the fastest growing market for vending machines, owing to the steady economic growth, changing consumer behavior, rapid urbanization, and increasing standards of living, particularly across countries such as China and India. A growing clan of modern population in these countries is using vending machines making the industry an indispensable part of modern life.
This report analyzes the worldwide installed based data on Vending Machines in Thousand Units by the following Product Segments: Beverage Vending Machines, Food Vending Machines, Cigarette Vending Machines, and Other Vending Machines. Also, the report analyzes the worldwide market for sale of products through "Vending Machines" in US$ million by the following Product Segments: Beverages, Food, Cigarettes, and Other Products and Services. The report provides separate comprehensive analytics for the US, Canada, Japan, Europe, and Rest of World. Annual estimates and forecasts are provided for the period 2010 through 2018. A six-year historic analysis is also provided for these markets.
The report profiles 113 companies including many key and niche players such as Azkoyen SA, Crane Co., Crane Merchandising Systems, Dixie-Narco, Inc., Cubic Corp., Fuji Electric Co., Ltd., Glory Ltd., GTECH Corporation, Maas International Europe B.V, Royal Vendors Inc., Sanden Corp., Sanden-Vendo America, Inc., and Westomatic Vending Services Ltd. Market data and analytics are derived from primary and secondary research. Company profiles are primarily based upon search engine sources in the public domain. Global Industry Analysts ©