LONDON--(BUSINESS WIRE)--The global coffee pod machine market size is expected to grow by 1,428.20 thousand units during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. We expect the impact to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth.
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The increase in strategic partnerships among vendors is leading to the availability of a diverse range of coffee pod brands, driving the demand for pod machines. For instance, Keurig Green Mountain has a host of agreements with coffee brands such as Folgers and Starbucks, to produce and use coffee pods for its own Keurig pod machines. This situation is conducive to the growth of the global coffee pod machine market because the modern customer is willing and can pay a reasonable premium for a pod machine that can brew a diverse set of branded beverages.
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As per Technavio, the cost-effectiveness and usability of coffee pod machines will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Coffee Pod Machine Market: Cost-effectiveness and Usability of Coffee Pod Machines
Apart from the traditional coffee-consuming countries of North America and Europe, rapid urbanization across the world is driving the inculcation of new food customs and habits and preferences of global food trends across emerging economies. This is fostering the acceptance of coffee pod machines across these economies. One of the fundamental drivers for the growth of the global coffee pod machine market is the convenience, cost-effectiveness, and ease of use offered by coffee pod machines to the modern consumer. Coffee pod machines cost less than a fully-automatic commercial coffee maker. With a more compact, portable, and sophisticated design, these machines can fit aesthetically into any modern residential or office environment. In addition to being easy to use and maintain, coffee pods are gaining popularity due to their one-time use, quality, and quick disposability.
“Other factors such as the increasing commercial demand for coffee pod machines, and the availability of diverse choices of coffee flavors will have a significant impact on the growth of the coffee pod machine market value during the forecast period,” says a senior analyst at Technavio.
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Coffee Pod Machine Market: Segmentation Analysis
This market research report segments the coffee pod machine market by end-user (non-commercial and commercial) and geography (Europe, North America, APAC, South America, and MEA).
The European region led the coffee pod machine market in 2019, followed by North America, APAC, South America, and MEA respectively. During the forecast period, the European region is expected to register the highest incremental growth due to factors such as premiumization, individuality, and localization trends in the consumption of coffee.
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Some of the key topics covered in the report include:
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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