Beverage Dispenser Market is Expected to Reach US$ 8,429.9 Mn by 2027
The abrupt rise in coronavirus cases globally, proliferated the demand for medical supplies and vaccines thereby accelerating the demand for beverage dispenser. The global beverage dispenser market was valued at US$ 5,785.7 Mn in 2020 and expected to reach US$ 8,429.9 Mn by 2027 and is expanding at a CAGR of 5.5% during the forecast period
Most of the food and beverage companies are entering the segment of ghost kitchen owing to the rising rents and shrinking margin levels where cutting off the excess space for dining can provide a growth opportunity. The concept of ghost kitchen has transformed the phase of the hospitality and restaurant industry. Also, factors such as less delivery time, low risk in launching new concepts, growing online orders, among others, are propelling the demand for ghost kitchens further proliferating the market for beverage dispenser.
Beverage dispensers have also become an integral component for the retail stores as it a tool with a blend of sustainability and design to drive consumer traffic, assuring more profitability with a reduction in the number of laborers. Moreover, the growth in momentum for eco-friendly cooking, energy consumption awareness, smart kitchens, IoT embedment is expected to support the growth of beverage dispensers, especially in the retail sector. One of the trends that made the growth of beverage dispensers more inevitable in the market is the rising demand for space-saving and multifunctional equipment.
The market for beverage dispensers is expected to bounce back by the end of 2021 despite a slow recovery. The demand might also surge for full automated machines to enhance convenience and sophistication that requires minimal contact level for the downpour. The revival of trading activities can also promote the effectiveness of the supply chain across the geographies. The vendors are also forced to innovate new, safer, and hygienic beverage dispensers during the forecast period where touchless voice-enabled machines could be the future.
The scope for the installation of beverage dispensers has grown over the past decade, where the rate of adoption in retail spaces has surged. The lower cost of ownership increases the profitability, labor cost-cutting, and attractive merchandising is driving more consumer traffic that has served as the pillars for the preference of various types of beverage dispensers in the retail outlets. While hospitality sectors and convenience stores continue to dominate the adoption rate, the momentum has gained pace in institutions, cinema halls, tourist spots, shopping malls, and airports. The vendors in the beverage dispenser industry are also highly recommended to customize their offerings based on personal preferences, demographics behaviour, geography, and foot traffic.
In terms of region, the Asia Pacific region accounted for the second-largest market share despite its lower penetration rate compared to its potential of adoption. Accounting for 60% of the global population and over 4.3 billion people, the rising disposable income, growing women employees, favourable real estate investments, and growth in middle-class society is supporting the growth of technology dependence and machines such as beverage dispensers. Countries like China, Japan, and South Korea act as major drivers for revenue generation of water dispensers in the region.
- Based on the technology, the manual beverage dispenser accounted for 31.0% market share in the base year 2020
- Based on the dispenser type, the countertop beverage dispenser accounted for the largest market share in 2020 and will maintain its position throughout the forecast period (2020-2027)
- Based on regions, the Asia Pacific region is witnessing a growth rate of 7.2% in the beverage dispenser industry
- In April 2021, Lancer Worldwide launched its IBD Bold 30i™, which is a next-generation beverage dispenser. The new product has a sleek design, Lancer Link™ IoT connectivity, and a digital touchscreen merchandiser. The product is launched to fulfil the customer’s rising need for hygiene and flexibility.
- In April 2021, Coca-Cola Freestyle introduced the 7100, which is a countertop fountain dispenser for a smaller footprint in restaurants and offers more than 80 choices with a touch button. The new product features an intuitive user interface for easier and faster handling along with a 24-inch high-definition touchscreen.
The Global Beverage Dispenser Industry Segmentation:
By Material Type
- Stainless Steel
- Glass & Acrylic
By Dispenser Type
- Drop Ins
- By Beverage Type
- Convenience Stores
- QSR & Restaurants
- Educational & Institutional
By Sales Channel
- Manufacturer/Distributor/Service Provider
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Company Profiles and Competitive Intelligence
The key players operating in the market are:
- Ali Group
- Bras Internazionale SPA
- Bunn-O-Matic Corporation
- Cambro Manufacturing, Co.
- Changzhou Pilot Electronic Co. Ltd.
- Coke Solutions
- Cornelius Inc.
- Drink Machine Works
- Farmer Brothers
- Follett LLC
- Frozen Beverage Dispensers