Market Forecast By Product Type (Beverages, Snacks, Chocolate and Candies, Tobacco & Others), By End Users (QSR, Shopping Malls, Retail Stores, Offices and Institutions, Public Transport & Others), By Regions (Eastern, Western, Northern, Southern) and competitive landscape
|Product Code: ETC054277||Publication Date: Mar 2023||Product Type: Report|
|Publisher: 6Wresearch||No. of Pages: 68||No. of Figures: 11||No. of Tables: 2|
India Vending Machine Market report comprehensively covers the market by product types and by end-users. The report provides an unbiased and detailed analysis of ongoing trends, share, opportunities, high growth areas, and market drivers, which would help stakeholders devise and align their market strategies according to the current and future market dynamics.
India Vending Machine Market is forecast to grow at a significant growth rate driven by rapid urbanization, changing consumer lifestyles, and increasing demand for convenience foods and beverages. Several latest developments in this market include the adoption of cashless payment methods such as mobile wallets, UPI, and contactless cards to make transactions more convenient for customers. The expansion into new locations such as airports, hospitals, and public transport stations to the growing demand for on-the-go food and beverage options. Vending machine manufacturers in India were introducing new products such as smart vending machines with facial recognition, touchscreens, and machines that dispensed fresh fruits and vegetables.
Moreover, the government of India is taking several initiatives to promote the use of vending machines. The government is offering subsidies to vending machine operators and supporting the development of vending machine infrastructure in public places. There are several growth factors for the vending machine market in India such as the increasing disposable income of the middle class in India which led to an upsurging spending power and a higher demand for convenient food options. In general, vending machines provide a convenient and accessible way for people to purchase food and beverages, without visiting traditional retail outlets. Overall, these factors are anticipated to drive the Vending Machine Market in India.
India Vending Machine Market is expected to witness robust growth over the coming years on account of the growing retail industry and rapid urbanization. The Indian retail markets have transformed from traditional shops towards new organized retail formats and the emergence of shopping malls, supermarkets, hypermarkets, and convenience stores. Vending machines were first introduced in India in the government transportation and hospitality sector to provide convenience to consumers to procure essential products even during closed hours. Currently, vending machines are mainly used in India's retail sector. The majority of the vending machines operating in the country are being installed at airports, educational institutions, railway stations, offices, hospitals, petrol stations, malls, supermarkets, and hypermarkets. Moreover, demand for vending machines decreased during 2020, on account of COVID-19 pandemic lockdowns and low public footfall in commercial and transportation complexes post lockdowns in the market. The market has seen a halt owing to the massive outbreak of COVID-19 which resulted in nationwide lockdowns to combat the spread of the virus and has led to a decline in overall market growth.
According to 6Wresearch, India Vending Machine Market size is projected to grow at a CAGR of 14.9% during 2020-2026. The rising population, growing digitization, mobile-based cashless payment options increasing investment in the retail sector, raising awareness, and increasing consumers' purchasing power are key growth drivers of India's vending machine market. Additionally, the demand for vending machines will be primarily driven by the growth of organized retailing across malls and multiplexes, BPOs, IT, and ITES sectors in India during the forecast period. However, the vending machine's growth in India is anticipated to slow down during the first half of 2020-2021 due to the outbreak of the Covid-19 pandemic. The market is expected to recover at the beginning of 2021 in some regions in India. In other regions of India, the market is likely to recover gradually over the next few years.
In terms of product type, India's vending machine market is categorized into beverages, snacks, chocolates and candies, etc. The snacks and beverages category together dominates India's overall vending machine market sales in 2019 due to modern-day consumers' busy lifestyles. Based on end-users, the vending machine market is segmented into QSR, shopping malls, & retail stores, offices, institutions, public transport, etc. Shopping malls and retail stores are leading the overall vending machine market sales in India.
Additionally, growing investment in public infrastructure and the organized retail sector's development would further drive the demand for India's vending machine market over the coming years. Additionally, the pharmacy outlets are also recording significant growth in revenues due to the spread of the COVID-19 pandemic, which has resulted in increased usage of vending machines across hospitals and other healthcare centres.
The report provides a detailed analysis of the following market segments:
1. Does the report consider COVID-19's impact?
The report not only has considered COVID-19 impact but also current market dynamics, trends and KPIs into consideration.
2. How much growth is expected in the India Vending Machine Market over the coming years?
The India Vending Machine Market revenue is anticipated to record a CAGR of 14.9% during 2020-2026.
3. Which segment has captured a key share of the market?
Snacks and Beverages are the leading market segment in the overall market revenues in the year 2019.
4. Which segment is exhibited to gain traction over the forecast period?
Shopping malls and retail stores are expected to record key growth throughout the forecast period 2020-2026.
5. Who are key the key players in the market?
The key players in the market include- Automated Merchandising Systems, Azkoyen Vending Systems, American Vending Machines, Continental Vending, Evoca Group, Bulk Vending Systems, Crane Merchandising Systems Inc, Fuji Electric Co. Ltd., Sanden Holdings Corporation
6. Is customization available in the market study?
Yes, we can do customization as per your requirements. Please feel free to write to us at email@example.com for any customized or any other requirements
7. We also want to have market reports for other countries/regions.
6Wresearch has the database of more than 60 countries globally, which can make us your first choice for all your research needs.
|1. Executive Summary|
|2.1 Report Description|
|2.2 Key Highlights of the Report|
|2.3 Market Scope & Segmentation|
|2.4 Research Methodology|
|3. India Vending Machine Market Overview|
|3.1 India Vending Machine Market Revenues, 2016-2026F|
|3.2 India Vending Machine Market-Industry Life Cycle|
|3.3 India Vending Machine Market-Porter’s Five Forces|
|4. India Vending Machine Market Dynamics|
|4.1 Impact Analysis|
|4.2 Market Drivers|
|4.3 Market Restraints|
|5. India Vending Machine Market Trends|
|6. India Vending Machine Market Overview, By Product Type|
|6.1 India Vending Machine Market Revenue, By Product Type|
|6.2 India Vending Machine Market Revenues, By Product Type, 2016-2026F|
|6.2.1 India Vending Machine Market Revenues, By Beverages, 2016-2026F|
|6.2.2 India Vending Machine Market Revenues, By Snacks, 2016-2026F|
|6.2.3 India Vending Machine Market Revenues, By Chocolate and Candies, 2016-2026F|
|6.2.4 India Vending Machine Market Revenues, By Others, 2016-2026F|
|7. India Vending Machine Market Overview, By End Users|
|7.1 India Vending Machine Market Revenue Share, By End Users|
|7.2 India Vending Machine Market Revenues, By End Users, 2016-2026F|
|7.2.1 India Vending Machine Market Revenues, By QSR, 2016-2026F|
|7.2.2 India Vending Machine Market Revenues, By Shopping Malls, 2016-2026F|
|7.2.3 India Vending Machine Market Revenues, By Retail Stores, 2016-2026F|
|7.2.4 India Vending Machine Market Revenues, By Offices and Institutions, 2016-2026F|
|7.2.5 India Vending Machine Market Revenues, By Public Transport, 2016-2026F|
|7.2.6 India Vending Machine Market Revenues, By Others, 2016-2026F|
|8. India Vending Machine Market Key Performance Indicators|
|9. India Vending Machine Market Opportunity Assessment|
|9.1 India Vending Machine Market, Opportunity Assessment, By Product Type, 2026F|
|9.2 India Vending Machine Market, Opportunity Assessment, By End Users, 2026F|
|10. India Vending Machine Market Competitive Landscape|
|10.1 India Vending Machine Market Revenue Share, By Company, 2019|
|10.2 India Vending Machine Market Competitive Benchmarking|
|10.2.1 India Vending Machine Market Competitive Benchmarking, By Technical Parameters|
|10.2.2 India Vending Machine Market Competitive Benchmarking, By Operating Parameters|
|11. Company Profiles|
|11.1 Automated Merchandising Systems|
|11.2 Azkoyen Vending Systems|
|11.3 American Vending Machines|
|11.4 Continental Vending|
|11.5 Evoca Group|
|11.6 Evoca Group|
|11.7 Bulk Vending Systems|
|11.8 Crane Merchandising Systems Inc|
|11.9 Fuji Electric Co. Ltd.|
|11.10 Sanden Holdings Corporation|
|12. Key Strategic Recommendations|
|List of Figures|
|1. India Vending Machine Market Revenues, 2016-2026F ($ Million)|
|2. Percentage of Indian population using Internet|
|3. Purchasing Power Parity of India (Local Currency Unit per USD)|
|4. GDP Per Capita of India 2018-2025 (US$)|
|5. India Vending Machine Market Revenue Share, By Product Type, 2019 & 2026F|
|6. India Vending Machine Market Revenue Share, By End Users, 2019 & 2026F|
|7. Total Number of Employees in Indian Retail (in Million)|
|8. India’s Retail Selling Space (in Million Square Meters)|
|9. India Vending Machine Market Opportunity Assessment, By Product Type, 2026F|
|10. India Vending Machine Market Opportunity Assessment, By End Users, 2026F|
|11. India Vending Machine Market Revenue Share, By Companies, 2019|
|List of Tables|
|1. India Vending Machine Market Revenues, By Product Type, 2016-2026F ($ Million)|
|2. India Vending Machine Market Revenues, By End Users, 2016-2026F ($ Million)|