Europe Vending Machine Industry Overview
The Europe vending machine market size is anticipated to reach USD 27.21 billion by 2028, registering a CAGR of 8.9% over the forecast period, according to a new report by Grand View Research, Inc. One of the primary factors driving the market’s growth is the rising demand for cashless vending machines. Smart vending machines are becoming increasingly common as these intelligent machines use an attention-getting interactive multi-media display to provide a wide choice of products to clients. Moreover, the growing popularity of unattended retail stores and its rising acceptance among consumers supports the market growth. Operators who invested in security tools, such as locking coolers and camera monitoring, have started placing them in semi-public and public-facing micro markets. This will be an interesting trend to watch, especially in the post-COVID-19 world, where consumers could seek out unattended retail options and contactless payments for safety reasons.
Europe Vending Machine Market Segmentation
Grand View Research has segmented the Europe vending machine market on the basis of type, application, payment mode, and country:
Based on the Type Insights, the market is segmented into Smart, Traditional.
- The smart product type segment is expected to grow at the fastest CAGR of 10.8% from 2021 to 2028 due to a rise in the development of energy-efficient solutions that will help companies to reduce their carbon footprint.
- Major players operating in the intelligent vending machines market are developing eco-friendly and recyclable systems to provide sustainable technologies for reducing adverse environmental impacts. Cloud-based Vending Management Systems (VMS) are gaining popularity among operators.
- These systems provide services, such as cash accountability, warehouse management, alerts, real-time data, pre-kitting, merchandising and optimization options, and report generation. VMS offers remote access to machines and real-time data.
- The nature of snacking is evolving rapidly, as consumers are becoming increasingly health-conscious. According to Vending People, zero-sugar drinks are the most popular drink options in offices. In 2019, the traditional vending machine segment recorded an increase of 30.3% in sales.
Based on the Payment Mode Insights, the market is segmented into Cash Payment, Cashless Payment.
- The cashless payment segment is estimated to register the fastest CAGR of 10.2% from 2021 to 2028. This rise of cashless payments in vending machines is offering significant opportunities for operators to switch to cashless payment modes. This will enable them to expand their customer base.
- Moreover, cashless payments not only offer customers convenience but also offer logistical solutions. Handling cash in vending machines is a costly process for operators, in terms of time spent collecting and counting money and losses incurred through vandalism and theft.
- The cash payment segment led the market in 2020 and is estimated to grow at a steady CAGR from 2021 to 2028 as cash is still the predominant method of payment in most European countries, though its proportion among retail payments is falling.
- The cashless terminal, its cellular connection for processing, and each cashless transaction, all cost the operators money, due to which many small-scale operators are forced to use cash payment mode in their systems.
Based on the Application Insights, the market is segmented into Commercial Places, Offices, Public Places, Others.
- The office application segment accounted for the largest revenue share of more than 67% in 2020. Office vending machines are a low-maintenance and convenient way to offer fresh food, snacks, and beverages and eliminate the need for staff that would otherwise be required for a canteen.
- Adding a vending machine to an office does have immediate and obvious benefits, such as added convenience and low overheads. Along with this, a vending machine can help motivate staff with fresh food options and positively affect their efficiency.
- The commercial places segment is estimated to register the fastest CAGR from 2021 to 2028. Vending machines at commercial places help consumers conveniently access their favorite products. Moreover, retailers are offering a wide array of merchandise through automated retail technology.
Europe Vending Machine Country Outlook
Key Companies Profile & Market Share Insights
The market is characterized by the presence of various well-established and several small- and medium-sized players. The COVID-19 pandemic hampered the growth and revenue generation of many companies. As a precautionary measure, many companies have started raising funds from various investors to continue their operations.
Some prominent players in the Europe vending machine market include
- Selecta TMP AG
- Delikia Fresh
- Alliance Vending Services
- IVS Iberica
- NVCS Ltd.
- Express Vending
- Nayax Ltd.
- Ventopay GmbH
- On Track Innovations Ltd.
- CCV Group B.V.
Order a free sample PDF of the Europe Vending Machine Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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