Vending

Vending machine market projected to reach $37.2B by 2032

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December 6, 2024

The global vending machine market is expected to reach $37.2 billion by 2032, growing at a healthy CAGR of 7.5% from 2023, according to a report by Allied Market Research.

Key drivers

• Rising demand for convenience food: Increased demand for food vending machines in offices and institutions is a major factor driving market growth.
• Shifting consumer preferences: Consumers' growing preference for packaged beverages and ready-to-drink options is fueling the vending machine market.
• Technological advancements: The adoption of smart vending machines with features like real-time data collection and IoT integration is enhancing the consumer experience.

Regional dominance

• North America currently holds the largest market share due to the prevalence of on-the-go lifestyles and a strong preference for packaged beverages.

Future outlook

• Manufacturers are expected to focus on social media marketing to reach a wider audience.
• The rise of internet penetration and "netizens" presents a significant growth opportunity for the vending machine market.
• Continued innovation in areas like voice recognition and big data integration is expected to further improve customer experience and drive market growth.