Commercial Beverage Dispenser Equipment Market tor
Commercial Beverage Dispenser Equipment Market to be worth US$ 8.3 Bn by 2033
The Market Statsville Group (MSG) publishes the new report on the "Commercial Beverage Dispenser Equipment Market by Technology (Automatic, Semi-automatic, and Manual), by Beverage Type (Hot, Cold, Fountain, Frozen, and Soft serve), by Material (Stainless Steel, Glass & Acrylic, Plastic), by Dispenser Type (Countertop, Drop-ins, Conventional), by End-User (Convenience Stores, QSR, and Restaurants, Educational and Institutional, Recreation, Others), by Region – Global Share and Forecast to 2027".
Theglobal commercial beverage dispenser equipment market size is anticipated to grow from USD 5.9 billion in 2020 to USD 8.3 million by 2027, at a CAGR of 5.9% during the forecast period. The concept of ghost kitchens has transformed the phase of the hospitality and restaurant industry. It includes setting up of special kitchen to comply with the growing food deliveries and has attracted ample investment opportunities in recent years. Most of the food and beverage companies are also entering the segment of virtual kitchens owing to the rising rents and shrinking margin levels where cutting off the excess space for dining can provide a growth opportunity.
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Global Commercial Beverage Dispenser Equipment Market Segmentation
The overall commercial beverage dispenser equipment market has been segmented into technology, beverage, material, dispenser, end-user, and region.
- By Technology (Automatic, Semi-automatic, and Manual)
- By Beverage Type (Hot, Cold, Fountain, Frozen, and Soft serve)
- By Material (Stainless Steel, Glass & Acrylic, Plastic)
- By Dispenser Type (Countertop, Drop-ins, Conventional)
- By End-User (Convenience Stores, QSR, and Restaurants, Educational and Institutional, Recreation, Others)
- By Region (US, Canada, Mexico, UK, Germany, France, Italy, Spain, China, Japan, India, South Korea, Southeast Asia, Australia, Saudi Arabia, UAE, South Africa, Qatar, Nigeria, Israel, Brazil, Argentina, Peru)
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Countertop, by dispenser type, is estimated to hold the largest market share during the forecast period
The global commercial beverage dispenser equipment market is segregated into the countertop, drop-ins, and conventional based on dispenser type. The countertop segment generated the highest revenue of 61.5% of the total global commercial beverage dispenser equipment market in 2020. The countertop versions are highly preferred as they are compact and durable in design. They tend to remain as the primary preference for retail spaces with space constraints. More than 70% of the leading players in the industry, including Cornelius, FBD, Lancer, are committed to providing affordable and qualified countertop versions in the market for utilizing the window of opportunity.
The countertop versions also have a higher probability of adoption in snack bars, cafes, convenience stores, and co-working spaces where the equipment is more feasible to comply with a considerable customer footprint. They are also often bought in multiple units to engage with the customers at various retail spaces. The automated technology, self-cleaning features, LED touch screens, user-friendly options, and portable natures influence equipment purchase.
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North America accounts for the largest market share in commercial beverage dispenser equipment market 2020
Based on the regions, the global commercial beverage dispenser equipment market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. In 2020, North America accounted for the highest market share of 30.2% in the global commercial beverage dispenser equipment market and was anticipated to maintain its dominance throughout the forecast period. North America is expected to sustain its dominance throughout the forecast period as well. The region is also considered a forerunner in adopting the latest technologies, which are expensive in other geographies. Coke solutions consider the US the hot spot for installing innovations, including the extraordinarily successful Freestyle variant. Many schools, hotels, QSR chains, and shopping malls are in the pipeline, which boosts the adoption rate.
In Canada, the room for expansion in the restaurant industry is more prominent, where the consumers seek more varietal and convenient solutions. The minimum wage increase in the Limited-Service Restaurants (LSRs) has also enforced the adoption of beverage dispensers for cost advantages. The rise in wages can be more significant in cities like Ontario, British Colombia, Alberta, where the demand can be more prominent in the coming years. As the restaurants face the challenge of rising labor costs, increasing efficiency in operations without investing in technology is considered uncertain by the country's operators. There is also a higher probability of laying off employees in restaurant chains, increasing the dependability and reliance on electronic equipment such as automatic dispensers for the beverage segment.
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Igloo Products Corporation, Manitowoc Foodservice Companies, Inc., Cornelius, Inc., FBD Frozen Beverage Dispensers, Follett LLC, Bras Internazionale SPA, Lancer BLVD, Danby Products Ltd., BUNN, and Cambro Manufacturing, Co. are some of the major players in the global market of Commercial Beverage Dispenser Equipment.
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