Jul 22, 2020 6:35 PM ET
iCrowd Newswire – Jul 22, 2020
Global Portable Coffee Makers Market is estimated to be valued at USD 2,468.5 Million by 2025, expanding at a CAGR of 7.16% during the forecast period. Portable coffee makers are lightweight coffee machines that are smaller than conventional coffee makers. The growth of the global portable coffee makers market is driven by the rising coffee consumption in emerging economies and increasing demand for convenience products. However, the rising number of private-label manufacturers is hampering the growth of the market. The expansion of the commercial sector in Asia-Pacific and the rising adoption of innovative products are expected to offer lucrative opportunities to market players in the coming years.
Europe accounted for the dominant share of the portable coffee makers market in 2018 owing to high coffee consumption in the region, both at home as well as while traveling. Germany, followed by Italy and France, are among the lucrative markets for manufacturers in the region. Regular product launches and the expansion plans of market players have further boosted the sales of portable coffee makers in Europe. The market in Asia-Pacific is anticipated to exhibit the highest CAGR during the review period. Japan, China, and India are among the major coffee markets in the region due to the large population and exponential increase in coffee consumption in these countries in recent years. Other factors such as rapid urbanization, rising per capita disposable incomes, and increasing demand for non-alcoholic beverages are expected to drive the growth of the portable coffee makers market in the region. The growing number of unorganized and small-scale cafés, quick service restaurants, coffee shops, and local coffee chains in Asia-Pacific is expected to provide lucrative opportunities to portable coffee maker manufacturers in the coming years.
Market Research Future recognizes Keurig Green Mountain, Inc. (US), Nestlé S.A. (Switzerland), Newell Brands (US), Electrolux AB (Sweden), Koninklijke Philips N.V. (Netherlands), Hamilton Beach Brands, Inc. (US), Robert Bosch GmbH (Germany), illycaffè S.p.A. (Italy), Dualit Limited (UK), Handpresso Sas (France) and Wacaco Company Limited (Hong Kong) as the key players in the Global Portable Coffee Makers Market
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Global Portable Coffee Makers Market has been segmented on the basis of type, category, end-use, distribution channel, and region.
By type, the market has been divided into manual and automatic. The automatic segment accounted for the larger market share in 2018 and is expected to register a higher CAGR of 7.57% during the forecast period. A fully automatic coffee maker provides the option of controlling the strength and quantity of coffee to be brewed. It operates by pressing hot water through the freshly ground coffee under high pressure. The ground coffee comes into contact with the water for a small span of time, which reduces bitterness.
Based on the distribution channel, the Global Portable Coffee Makers Market has been classified as store-based and non-store-based. The store-based segment is segregated into supermarkets and hypermarkets, specialty stores, and others. The store-based segment accounted for the larger market share in 2018. Consumers prefer store-based channels as they provide a one-stop shopping experience. However, technological advancements in the e-commerce industry and growing consumer preference for online purchases are fueling the growth of the non-store-based segment. This segment is projected to register a higher CAGR during the forecast period.
In terms of category, the global portable coffee makers market has been bifurcated into premium and mass-market. The mass-market segment accounted for the larger market share in 2018 and is projected to register the higher growth rate during the forecast period owing to a large consumer base in emerging economies that prefers low-cost products. These products mainly consist of manual coffee makers that are ideal for household use. These coffee makers have simplistic designs and minimal features, which helps keep prices low. The price range in this category falls towards the lower end of the products available in the market. However, some manufacturers offer similar functions as premium coffee makers in the same price range.
On the basis of end-use, the market has been divided into household, out-of-home, food service, and corporate. The household segment accounted for the maximum market share in 2018. Increasing coffee consumption due to the associated health benefits and demand for specialty coffee is driving the growth of the household segment. Consumer inclination toward home-brewed coffee contributes to the growth of the segment. Additionally, the introduction of advanced machines particularly for household use featuring the latest technologies is expected to drive the growth of the segment. However, the out-of-home segment is expected to register the highest CAGR of 8.27% during the forecast period. Increasing preference for hiking and camping or short trips is driving the growth of the out-of-home segment since portable coffee makers are ideal for traveling as they are lightweight, compact, and easy to carry.
Geographically, the global portable coffee makers market has been categorized as North America, Europe, Asia-Pacific, and the rest of the world. As per MRFR analysis, Europe dominated the market, accounting for the largest share in 2018. North America accounted for the second-largest share of the portable coffee makers market in 2018. The market in Asia-Pacific is expected to register the highest CAGR of 8.60% during the forecast period.
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