Vending
Vending machine market booms, $37.2B revenue forecast by 2032
May 14, 2024
The Allied Market Research report's most recent data demonstrates that the vending machine market is experiencing significant growth, and is expected to continue to grow.
According to a Whatech report, the global vending machine market accounted for $18.3 billion in 2022 and is expected to reach a revenue of $37.2 billion by 2032, rising at a CAGR of 7.5% from 2023 to 2032.
The reasons for the vending machine market's significant growth include increase in the demand for food vending machines in offices or institutions, the adoption of smart customer service technologies in several food categories and the rise of cashless payment systems.
According to the report, leading players in the vending machine market include Crane Company, Bianchi Industry Spa, Fastcorp Vending LLC, Jofemar U.S.A., Royal Vendors, Inc., Selecta Group B.V., Seaga Manufacturing Inc., SandenVendo America, Inc., Fuji Electric Co., Ltd and Azkoyen U.S.A..
