LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the office and commercial coffee equipment and supplies market in the US to grow at a CAGR of over 4% during the period 2018-2022, according to their latest report.
Increase in demand for sustainable coffee solutions is a key trend that is expected to impact the market during the forecast period. Currently, the leading market players are focusing on sustainable growth patterns in the office and commercial coffee equipment and supplies market in the US.
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In this report, Technavio analysts highlight technological and design innovations in coffee brewers, as a key factor contributing to the growth of the office and commercial coffee equipment and supplies market in the US:
Technological and design innovations in coffee brewers leading to product premiumization
Technology and design innovations in coffee brewers contribute to product-line extensions and product innovations, which lead to market growth and product premiumization. The key market vendors focus on investments that lead to product design and functionality enhancements. For instance, Keurig Green Mountain (a company under JAB Holding Company) offers coffee makers that work on the QuietBrew technology. In 2004, this company was the first to patent the K-Cups technology. Over the years, K-Cups coffee roaster has been recognized as the most popular single-serve brewer brand in the US. To maintain its market position, in March 2014, Keurig Green Mountain introduced the Keurig 2.0 brewer, that runs on interactive technology.
According to a senior analyst at Technavio for retail goods and services research, “Key market vendors have begun investing in innovative coffee makers, such as vacuum coffee machines which work on the vacuum principle. Technological and product innovations contribute to product enhancements. This aids in the introduction of quality products to the office and commercial coffee equipment and supplies market in the US, which, in turn, will boost the growth of the market.”
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Office and commercial coffee equipment and supplies market in the US - market segmentation
This market research report segments the office and commercial coffee equipment and supplies market in the US by distribution channel (offline and online) and by end-user (offices, foodservice outlets, restaurants, and convenience stores, healthcare and hospitality, education, and others).
In 2017, the offices end-user segment accounted for close to 48% of the office and commercial coffee equipment and supplies market in the US. This segment's market share is expected to increase by 1% by 2022.
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