LONDON--(BUSINESS WIRE)--The global office and commercial coffee equipment and supplies market is expected to register a CAGR of around 5% during the period 2018-2022, according to the latest market research report by Technavio.
A key factor driving the market’s growth is the rising demand for premium coffee. The demand for premium coffee such as gourmet coffee has been on the rise. Despite incurring sizeable costs, employers are willing to invest in premium coffee and coffee-making equipment. To develop their green footprint, companies are also ready to purchase different varieties of coffee, which is rated highly on green initiatives.
This market research report on the global office and commercial coffee equipment and supplies market 2018-2022 provide an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio predicts an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the distribution channel expansion as one of the key emerging trends in the global office and commercial coffee equipment and supplies market:
Global office and commercial coffee equipment and supplies market: Distribution channel expansion
Wholesale delivery is another trend influencing the market, which is also referred to as provisioning. It allows vendors to supply products to other offices and commercial places that were initially not their customers. Players ensure not to offer traditional coffee supplies to such customers. Growing competition in the market has forced the vendors to concentrate on improving their range of product offerings and gain more revenue.
“Wholesale delivery offers vendors a better scope to increase their product offerings and sustain competition. This channel also offers a huge scale of equipment and supplies to each employer, thereby generating good profit from each delivery. A few key customers include convenience stores, restaurants, and foodservice outlets,” says a senior analyst at Technavio for research on food service.
Global office and commercial coffee equipment and supplies market: Segmentation analysis and forecast
This market research report segments the global office and commercial coffee equipment and supplies market by product requirement (espresso and other coffee mixes, hot brewing equipment, hot beverages and beverage mixes, to-go supplies, and coffee-flavoring syrups and condiments), end-users (offices, foodservice, restaurants, convenience stores, healthcare and hospitality, and education), and key regions (the Americas, APAC, and EMEA).
In 2017, the espresso and other coffee mixes segments was the leading contributor to the global office and commercial coffee equipment and supplies market. The hot brewing equipment segment accounted for the second largest share of the market.
In 2017, EMEA held the highest share of the global office and commercial coffee equipment and supplies market, accounting for a market share of approximately 37%. It was followed by the Americas and APAC respectively. The APAC region is expected to post the fastest growth during the forecast period.
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