Dublin, Sept. 08, 2020 (GLOBE NEWSWIRE) -- The "Commercial Beverage Dispenser Market - Global Outlook and Forecast 2020-2025" report has been added to ResearchAndMarkets.com's offering.
In-depth Analysis and Data-driven Insights on the Impact of COVID-19 Included in this Global Commercial Beverage Dispenser Market Report
The commercial beverage dispenser market by revenue is expected to grow at a CAGR of over 5% during the period 2019-2025.
The study considers the present scenario of the commercial beverage dispenser market and its market dynamics for the period 2019-2025. It covers a detailed overview of several market growth enablers, restraints, and trends. The report offers both the demand and supply aspects of the market. It profiles and examines leading companies and other prominent ones operating in the market.
The global commercial beverage dispenser market is one of the fastest-growing products in the commercial kitchen and food service equipment market. The impact of technology, preference for on-the-go solutions, and varietal preferences have supported the growth of the segment over the years. The industry, which witnessed a downfall in 2020, owing to the COVID-19 pandemic, is expected to bounce back in the first half of 2021 with advances and enhancements. North America, APAC, and Europe were prominent markets in 2019.
The global expansion of QSR chains and restaurants has further expanded the usage of dispensers through the upselling concept. The emergence of coworking spaces to reduce the cost and productivity has further stimulated beverage dispensers to be a crucial component. In the busy and active world, self-service machines are highly preferred by consumers to save time and ensure better and consistent services. Dispensers turn out to be profitable and energy-efficient appliances that could potentially replace laborers and prevent additional expenses.
The following factors are likely to contribute to the growth of the commercial beverage dispenser market during the forecast period:
- High Preference for Self Service
- Demand in Energy Efficient and IoT Based Solutions
- Growth in QSR Outlets
- Emergence in Coworking Spaces
INSIGHTS BY GEOGRAPHY
North America is one of the significant markets for beverage dispensers, with the US accounts for more than 75% of the revenue generation in 2019. The demand for flexibility in beverage consumption, growth in technology, and rise in demand for frozen beverages are expected to fuel the demand for beverage dispensers in the region. Carbonated soft drinks tend to be more popular among baby boomers, especially consumers aged between 30-44 years and 45-60 years. In Canada, the scope for expansion in the restaurant industry is prominent where consumers seek varietal and convenient solutions. The rise in wages can be more significant in cities such as Ontario, British Colombia, and Alberta, where the demand is expected to be prominent in the coming years.
INSIGHTS BY VENDORS
The commercial beverage dispenser market is highly competitive with a significant number of vendors in the landscape. The key players are also eyeing at market expansion strategies to gain a global footprint through mergers and acquisitions. However, differentiation for technology, design, energy efficiency, and IOT embedment are more effective that vendors implement to sustain in the competitive market. As sustainability and eco-friendly products are on the rise, environment-friendly disposable cups can be a major attribute towards the add on features. Similarly, energy efficiency and low power consuming machines are preferred for their cost-cutting advantage.
Prominent Vendors
- Cornelius Inc
- Frozen Beverage Dispensers
- Lancer Worldwide
- BUNN-o-Matic Corporation
- Electrolux
- Manitowoc Foodservice
Other Prominent Vendors
- Coke Solutions
- Rosseto
- Godrej
- Changzhou Pilot Electronic Co Ltd
- Follett LLC
- Bras
- Ali Group
- Middleby
- Animo
- SureShot Solutions
- Drink Machine Works
- Spaceman USA
- Wilbur Curtis
- Farmer Brothers
- Vollrath
- PepsiCo
For more information about this report visit https://www.researchandmarkets.com/r/270rg2
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