Technavio analysts forecast the global automatic espresso machines marketto grow at a CAGR of almost 7% during the forecast period, according to their latest report.
This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20170512005650/en/
Technavio has published a new report on the global automatic espresso machines market from 2017-2021. (Graphic: Business Wire)
The research study covers the present scenario and growth prospects of the global automatic espresso machines marketfor 2017-2021. The market is segmented by product (fully automatic espresso machines and semi-automatic espresso machines), by distribution channels (supermarkets, hypermarkets, mass merchandisers, and department stores, specialty stores, and online retail), and by geography (Europe, North America, APAC, and ROW).
The global automatic espresso machines market is expected to reach to USD 3,210 million in 2021. The demand for coffee remains unaffected by price changes in most regions. The International Coffee Organization states that despite the volatility in the prices of coffee beans, the consumption of coffee is expected to grow by 2021. Countries like China and India largely drive this rise in the consumption of coffee.
This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing
Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free.
Technavio consumer and retail analysts highlight the following three factors that are contributing to the growth of the global automatic espresso machines market:
New product development and innovation
Manufacturers of automatic espresso machines are developing new products. They are coming up with product innovations to attract a wide customer base. This enables them to attain a competitive edge in the market. They also add user interface panels that increase convenience and add to the aesthetics of the machines and focus on enabling more customization. The latest product innovations ensure that these machines produce coffee that is on par with that produced using professional espresso machines, in terms of taste and quality.
Poonam Saini, a lead retail goods and services research analyst at Technavio, says, "Vendors have also started introducing varieties in espresso machines, like the ones that are compact and do not consume space in the kitchen and dining area. Market leaders, such as Nestlé Nespresso, have patented extraction technologies
Premiumization achieved through improved functionality and features along with branding
Many vendors offer innovative and customizable features in their espresso machines, such as scheduling, updates, adjustable brew timings, cool-to-touch, and spill proof features. The features also give notifications when the machine needs more water or when it is running low on coffee beans. There are other value-added features, such as the self-clean function, that are integrated into many automatic espresso machines. Smart apps can also learn individual user routines and suggest the number of times they might want a cup of coffee.
"One of the major players in the market, Nestlé Nespresso, offers Nespresso Prodigio, which is equipped with Bluetooth connectivity. Users can control their Nespresso Prodigio remotely and can schedule their coffee at specific times," says Poonam.
Growing demand for espresso coffee and increasing penetration of espresso machines
The demand for espresso machines is also increasing among residential customers. Coffee aficionados are interested in different varieties of coffee. The vendors in the market are launching various espresso machines that provide varieties of coffee. For instance, Philips had launched the Saeco Avanti app to cater to the demand of such customers. This app enables users to acquire knowledge about more coffee varieties and share their recipes via social media. The company has launched the Saeco Brand Ambassador Program to fortify brand engagement and retain customers. This facilitates users to enroll in coffee connoisseur classes and receive tips for maintaining their espresso machines.
Top vendors:
- Breville
- De'Longhi Appliances
- Groupe SEB
- Koninklijke Philips
- Nestlé Nespresso
Browse Related Reports:
- Global Humidifiers Market 2017-2021
- Online Retail Market in the US 2017-2021
- Global Foosball Equipment Market 2017-2021
Become a Technavio Insights member and access all three of these reports for a fraction of their original cost. As a Technavio Insights member, you will have immediate access to new reports as they're published in addition to all 6,000+ existing reports covering segments like cosmetics and toiletry, toys and baby products, and luggage. This subscription nets you thousands in savings, while staying connected to Technavio's constant transforming research library, helping you make informed business decisions more efficiently.
About Technavio
Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
If you are interested in more information, please contact our media team at media@technavio.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170512005650/en/
Contacts:
Technavio Research
Jesse Maida
Media Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com
