Market Research Report
Asia Pacific Vending Machines Market 2020-2026
|Published by||Orion Market Research Pvt Ltd||Product code||986584|
Delivery time: 2-3 business days
|Asia Pacific Vending Machines Market 2020-2026|
|Published: December 16, 2020||Content info:||
Asia Pacific Vending Machines Market Size, Share & Trends Analysis Report By Type (Traditional Vending Machines and Micro Markets), By Product (Food & Snacks, Beverages, and Others), By Application (Supermarkets & Retail Stores, Public Places, Offices/Institutions, and Other), Forecast Period (2020-2026)
The Asia-Pacific vending machines market is anticipated to grow at a CAGR of 7.9% during the forecast period. The growth of the market is primarily driven by the increasing acceptance of vending machines owing to the continuously changing lifestyle of consumers across the region. Additionally, the highly populated countries with vending machines such as India and China will also significantly influence the growth of the Asia-Pacific vending machine market. Moreover, the acceptance of vending machines in Japan is also higher among people with one of the highest densities of vending machines based on population which further provide significant market growth opportunity in the region.
The Asia-Pacific vending machines market is segmented based on type, product, and application. Based on the type, the market is sub-segmented into traditional vending machines and micro markets. Based on the products, the market is sub-segmented into food & snacks, beverages, and others. Further, based on the application, the market is sub-segmented into supermarkets & retail stores, public places, offices or institutions, and others.
The key players of the Asia-Pacific Vending Machines market include Fuji Electric Co., Ltd., Asahi Group Holdings, Ltd., ProVending Machine Co., Ltd, Suntory Holdings Ltd., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers, and acquisitions, collaborations, advanced product launches, and expansion, to stay competitive in the market. For instance, in July 2020, DyDo Group under a joint project with NEC has begun equipping its vending machines with NEC's Bio-IDiom facial recognition systems. Upon creating an account using a smartphone and registering the photo and credit card, the vending machine lets the consumer use the facial recognition feature to buy drinks. This vending machine will also not require any coin insertion or bills or use any sort of prepaid IC card.
The market study of the Asia-Pacific vending machines market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market into various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts as to bring more authenticity to the reports.
Secondary Sources Include:
The report is intended for vending machines manufacturers, vending machine product providers such as food, snacks, beverages (cold drink, packaged water, alcohol), manufacturer, distributor, start-ups, seed funders, venture capitalists, research organizations, and other related organizations for overall market analysis and competitive analysis. The report provides an in-depth analysis of market size, products offered by the companies, and future market opportunities. The report will serve as a source for a 360-degree analysis of the market thoroughly delivering insights into the market for making better business decisions.
The Report Covers: