India vending machine market is expected to witness robust growth over the coming years on account of the growing retail industry as well as rapid urbanization. The Indian retail markets have transformed from the traditional shops towards new organized retail formats along with the emergence of shopping malls, supermarkets, hypermarkets, and convenience stores. Vending machines were first introduced in India in the government transportation and hospitality sector with an aim to provide convenience to consumers to procure essential products even during closed hours. Currently, vending machines are mainly used in the retail sector in India, and 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.
According to 6Wresearch, the India Vending Machine Market size is expected to witness substantial growth during 2020-2026. Rising population, growing digitization and mobile-based cashless payment options increasing investment in the retail sector as well as growing awareness and rising purchasing power of consumers are some of the key growth drivers of the vending machine market in India. Additionally, the demand for vending machines will be largely driven by the growth of organized retailing across malls and multiplexes, BPOs, IT, and ITES sectors in India during the forecast period. However, the growth of the vending machine in India is anticipated to witness a 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 the year 2021 in some regions in India, whereas, in other regions of India the market is likely to recover gradually over the next few years.
In terms of product type, the vending machine market in India is categorized into beverages, snacks, chocolates and candies, tobacco, and others. The snacks and beverages category together dominates the overall vending machine market sales in India due to the busy lifestyle of modern-day consumers. Whereas, based on end-users, the vending machine market is segmented into QSR, shopping malls, & retail stores, offices, and institutions, public transport, and others. The shopping malls and retail stores are leading the overall vending machine market sales in India.
Additionally, growing investment in public infrastructure along with the development of the organized retail sector will further drive the demand for the vending machine market in India over the coming years. Further, 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 centers.
Some of the key players operating in the India vending machine market are Automated Merchandising Systems, Azkoyen Vending Systems, American Vending Machines, Continental Vending, Evoka Group, Bianchi Industry SpA, Bulk Vending Systems, Crane Merchandising Systems Inc, Fuji Electric Co., Ltd, Sanden Holdings Corporation and others.
The India vending machine market report comprehensively covers the market by product types, by end-users, and by regions including Eastern, Western, Northern, and Southern. The India vending machine market outlook report provides an unbiased and detailed analysis of the India vending machine market trends, India vending machine market share, opportunities, high growth areas, and market drivers which would help the stakeholders to device and align their market strategies according to the current and future market dynamics.
The India vending machine market is estimated to witness progressive growth during the forecast period 2020-26F backed by rising technical up-gradation and the introduction of convenient purchasing options. The commercial sector is expected to continue to benefit the market growth on the back of increased installation in commercial places such as hospitals, shopping malls and airports would instigate the adoption rate for vending machines across the country. Further, the covid-19 outbreak results in massive growth and is anticipated to assist the market to sustain a sound position in the coming years as well. As disease prevalence increased, the use of vending machines during the pandemic also touched a good level in order to avoid physical contact and ensure healthy buying and as a result, is estimated to be a key component for the swashbuckling growth of India vending machines in the upcoming six years.
Key Highlights of the Report:
- India Vending Machine Market Overview
- India Vending Machine Market Outlook
- India Vending Machine Market Forecast
- Historical Data of India Vending Machine Market Revenues for the Period 2016-2019
- India Vending Machine Market Size and India Vending machine Market Forecast of Revenues, Until 2026
- Historical Data of India Vending Machine Market Revenues, By Product Type, for the period 2016-2026
- Market Size & Forecast of India Vending Machine Market Revenues and Volumes, By Product Type, Until 2026.
- Historical Data of India Vending Machine Market Revenues, By End Users, for the period 2016-2026
- Market Size & Forecast of India Vending Machine Market Revenues and Volumes, By End Users, Until 2026.
- Market Drivers and Restraints
- India Vending Machine Market Trends and Industry Life Cycle
- Market Opportunity Assessment
- India Vending Machine Market Share, By Players
- India Vending Machine Market Overview on Competitive Benchmarking
- Company Profiles
- Key Strategic Recommendations
The India vending machine market report provides a detailed analysis of the following market segments:
- By Product Type:
- Chocolate and Candies
- By End Users:
- Shopping Malls
- Retail Stores
- Offices and Institutions
- Public Transport
- By Regions: