Nigeria Vending Machine Market (2020-2026) | Industry, Revenue, Outlook, COVID-19 IMPACT, Size, Share, Trends, Companies, Analysis, Growth, Value & Forecast

Nigeria vending machine market is likely to register considerable growth over the coming years principally due to improving economic condition, rising demand for ready to eat food along increased investment in the food and beverage industry in the country. Additionally, the Nigeria Smart City initiative introduced by the Nigerian government which aims to provide modern infrastructure to residents will further propel the demand for vending machines in these cities. Moreover, the Nigerian government also aims to attract a huge amount of tourists to the country. The rising number of tourists will further spur the growth of the vending machine market during the forecast period.

According to 6Wresearch, Nigeria Vending Machine Market size is expected to witness considerable growth during 2020-2026. The growing tourism sector, rising number of supermarkets, specialty food stores, and hypermarkets in the country, growing organized retail sector, changing lifestyle of consumers, evolving technology, as well as rapid urbanization, are some of the key growth drivers of Nigeria vending machine market. However, the growth of the vending machine in Nigeria is likely 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 Nigeria and it may even take the next few years to get back to the normal business conditions in the country.

In terms of product type, the vending machine market in Nigeria is segmented into beverages, snacks, chocolates and candies, tobacco, and others. The snacks and beverages category leads to the overall vending machine market sales in Nigeria due to a busy lifestyle and changing preference of 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 QSR, shopping malls, and retail stores are witnessing significant growth in the vending machine market in Nigeria. 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 Nigeria vending machine market are Automated Merchandising Systems, Azkoyen Vending Systems, American Vending Machines, Continental Vending, Evoke Group, Bianchi Industry SpA, Bulk Vending Systems, Crane Merchandising Systems Inc, Fuji Electric Co., Ltd, Sanden Holdings Corporation and others. 

The Nigeria vending machine market report comprehensively covers the market by product types, by end-users, and by regions. The Nigeria vending machine market outlook report provides an unbiased and detailed analysis of the Nigeria vending machine market trends, Nigeria vending machine market share, opportunities, high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

Nigeria vending machine market is estimated to gain traction during the forests period 2020-26F backed by the rising growth of the retail sector. Moreover, some ongoing construction projects in the country, such as Abuja gateway airport and Eko Atlantic these are estimated to support the growth of the hospitality sector and is estimated to act as a favorable factor that is expected to boost the impressive growth of Nigeria vending machine market in the upcoming six years. Moreover, the growing healthcare sector also installing a vending machine to avoid the long queue for medicine and work efficiently at times of emergency and is estimated to instigate the use of the Nigeria vending machine market in the years ahead.

Key Highlights of the Report:

• Nigeria Vending Machine Market Overview
• Nigeria Vending Machine Market Outlook
• Nigeria Vending Machine Market Forecast
• Historical Data of Nigeria Vending Machine Market Revenues for the Period 2016-2019
• Nigeria Vending Machine Market Size and Nigeria Vending machine Market Forecast of Revenues, Until 2026
• Historical Data of Nigeria Vending Machine Market Revenues, By Product Type, for the period 2016-2026
• Market Size & Forecast of Nigeria Vending Machine Market Revenues and Volumes, By Product Type, Until 2026.
• Historical Data of Nigeria Vending Machine Market Revenues, By End Users, for the period 2016-2026
• Market Size & Forecast of Nigeria Vending Machine Market Revenues and Volumes, By End Users, Until 2026.
• Market Drivers and Restraints
• Nigeria Vending Machine Market Trends and Industry Life Cycle
• Market Opportunity Assessment
• Nigeria Vending Machine Market Share, By Players
• Nigeria Vending Machine Market Overview on Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations

 Markets Covered

The Nigeria vending machine market report provides a detailed analysis of the following market segments:

• By Product Type:
• Beverages
• Snacks
• Chocolate and Candies
• Tobacco
• Others
  
  
• By End Users:
• QSR
• Shopping Malls
• Retail Stores
• Offices and Institutions
• Public Transport
• Others

Frequently Asked Questions About the Market Study (FAQs):