LONDON, Jan. 21, 2016 /PRNewswire/ --
Market outlook of automatic expresso machines
Technavio's market research analysts predict the global automatic espresso machines market to grow at a CAGR of over 5.50% over the next four years.
The demand for automatic espresso machines is strong in Western European countries like Germany, Italy, and France, which are the largest consumers of coffee. Many more European countries such as Italy, Russia, and Ukraine are also expected to exhibit a higher demand for coffee related products during the forecast period. It is expected to positively impact the growth of this market through 2019.
Market segmentation of expresso machines by product type
- Semi-automatic espresso machines
- Fully-automatic espresso machines
In 2014, the fully-automatic espresso machines segment of the global automatic espresso machines market recorded higher revenues, and it is expected to continue its dominance in the next five years. As the market is witnessing an increase in consumer preference for automation in kitchen appliances, vendors are capitalizing on the trend by offering highly automated espresso machines. With an increase in the cost of espresso coffee at QSRs (Quick Service Restaurants), consumers are increasingly switching to home-brewed alternatives, thus booming the expresso machines market.
Global automatic espresso machine market by geographical segmentation
- North America
With growing demand for automatic kitchen appliances, the market potential of especially, the US and China presents a significant opportunity for expresso coffee machine makers. The demand in the APAC region will primarily be driven by the semi-automatic espresso machines segment. The highest growth in ROW will be seen in Latin America, with Brazil is predicted to witness the highest demand.
Leading vendor analysis of the automatic expresso machines market
There are very few players that dominate the market, and it presents significant potential for growth. Vendors are focusing on product innovations based on the needs of today's customers. Superior marketing campaigns and an increase in online engagement are some key emerging trends that are expected to impact the market shares of the leading vendors during the forecast period.
Other prominent vendors in this market include Cuisinart, Gaggia, Hamilton Beach, Illy, and Jura.
Key questions answered in the report
- Market size and forecast of the global kitchen appliances market?
- Market overview and growth prospects of automatic expresso machines in the leading regions of Europe, North America, APAC, and ROW?
- Expenditure of high income US households on kitchen appliances?
- The leading region for specialty coffee and its changing market share until 2014?
- What are the key factors driving the automatic expresso machines market?
- What are the Key market trends impacting the growth of the automatic expresso machines market?
- What are the various opportunities and threats faced by the vendors in the automatic expresso machines market?
- Trending factors influencing the market shares for the connected automatic expresso machines market?
- Key outcome of the five forces analysis on the automatic expresso machines market?
- Growth forecast of the automatic expresso machines market?
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