Vending

Vending machine market projected to reach $37.2B by 2032

Photo: Allied Market Research

August 12, 2025

The global vending machine market, valued at $18.3 billion in 2022, is projected to grow to $37.2 billion by 2032, at a compound annual growth rate of 7.5%, according to a report from Allied Market Research.

The report, titled "Vending Machine Market Size, Share, Competitive Landscape and Trend Analysis Report," credits the growth to several factors, including a surge in demand for food vending machines in workplaces and institutions, an increase in the consumption of convenience foods and packaged beverages and the adoption of smart technologies, according to a press release on the findings.

The research highlights the rise of IoT-based vending machines as a significant driver, allowing for real-time data collection and enhanced consumer experiences. Innovations such as voice recognition and interactive display systems are also noted for making machines more user-friendly.

The report also identifies a key restraint: the high initial installation cost of vending machines. However, it states that the growing need for retailers to expand their virtual space is expected to present new opportunities for the industry.