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The office and commercial coffee equipment and supplies market is estimated to grow at a CAGR of 3.8% between 2022 and 2027. The size of the market is forecast to increase by USD 5,857.73 million. The growth of the market depends on several factors, including the growing number of office spaces and commercial establishments, the growing food service and cafe chains, and the increased product innovation leading to product premiumization.
This report extensively covers market segmentation by end-user (offices, food service restaurants and convenience stores, healthcare and hospitality, education, and others), distribution channel (offline and online), and geography (Europe, APAC, North America, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The growing number of office spaces and commercial establishments are notably driving the market growth, although factors such as the long product life cycle may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Key Office And Commercial Coffee Equipment And Supplies Market Driver
The growing number of office spaces and commercial establishments is a key factor driving the growth of the market. The demand for office and commercial coffee equipment and supplies is led by an increase in the number of office spaces and commercial establishments. The introduction of multinational companies has led to a rise in the number of employees and office spaces across the globe. A rise in the number of technological parks and business parks has fueled the demand for office supplies and equipment, which is expected to increase further during the next five years. As a result, the demand for office and commercial coffee equipment and supplies has increased across the globe.
Moreover, the growth in the commercial leasing industry, which includes renting retail buildings, office buildings, and industrial buildings, has also contributed to the increased demand for office and commercial coffee equipment and supplies in the region. Offices are the major consumers of office and commercial coffee equipment and supplies. Therefore, the growth in the number of offices and tech parks will drive the demand for office and commercial coffee equipment and supplies across the globe during the forecast period.
Significant Office And Commercial Coffee Equipment And Supplies Market Trend
Increased adoption of sustainable manufacturing by vendors is the primary trend in the market growth. Office and commercial coffee equipment and supplies are manufactured from durable materials, including high-grade plastic and metals (steel and iron). The manufacturing of these products requires an ample amount of water and electricity and other raw materials for packaging. This leads to the generation of huge amounts of industrial waste, especially chemicals, which contribute to environmental pollution. The waste generated during the manufacturing of office and commercial coffee equipment and supplies is generally sent to landfill sites or remains unrecycled at dump yards. Therefore, vendors are taking initiatives and joining sustainability associations to adopt sustainable manufacturing processes.
The adoption of sustainable manufacturing practices by vendors ensures that all their products will be manufactured using eco-friendly methods. The adoption of sustainable manufacturing processes also provides vendors with a positive brand value among customers, especially commercial users. This will increase the adoption of office and commercial coffee equipment and supplies among environment-conscious consumers, which will drive the growth of the market during the forecast period.
Major Office And Commercial Coffee Equipment And Supplies Market Challenge
Long product life cycle is a major challenge to the growth of the market. Office equipment and supplies such as coffee equipment from major market players are known for their reliability and quality. They are made of stainless steel or hard and durable metals and are characterized by a long replacement cycle. Coffee machines are known to last as long as 15 years. Coffee machines in contact with humidity during cleaning and maintenance can get damaged due to rusting. To avoid such risks, vendors make coffee equipment with stainless steel or high-grade plastic materials, which make these appliances lightweight and durable. They also invest in R&D and use innovative and durable materials to extend the operational life of these appliances.
The long replacement cycle of coffee equipment limits the year-over-year growth of the market. Coffee equipment manufacturers offer product warranties and guarantees, which further extend the lifespan of these appliances and limit repeat purchases. Furthermore, the need to adhere to industry regulations and norms enhances the durability of products. The low maintenance requirement of coffee equipment also reduces the frequency of product purchases. These factors are likely to hinder the growth of the market during the forecast period.
Key Office And Commercial Coffee Equipment And Supplies Market Customer Landscape
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Office and Commercial Coffee Equipment and Supplies Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Animo.Eu - The company offers office and commercial coffee equipment and supplies such as coffee machines, and coffee makers. Also, this segment focuses on manufacturing food products machinery such as professional coffee-making systems, coffee machines, and equipment.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the office segment will be significant during the forecast period. The office segment is the largest end-user segment of the global office and commercial coffee equipment and supplies market. Offices install different types of coffee machines with different capacities (single-serve, multi-serve, brewers, and espresso machines) based on their requirements. Many corporate offices adopt espresso coffee machines which are automatic and can be used by the employees without any hassle. Automatic espresso coffee machines with multiple menu options with respect to coffee making are high in demand in office spaces. Therefore, vendors in the office and commercial coffee equipment and supplies market are offering office coffee machines with the above-mentioned attributes. Such products are expected to gain traction among offices during the forecast period.
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The office's segment was valued at USD 12,661.67 million in 2017 and continue to grow by 2021. With the increasing number of office spaces and rising employment rates, the demand for office and commercial coffee equipment and supplies will grow across the globe. Offices are witnessing a major haul of changes led by modernization and changing work culture. This leads to the deployment of several modern pieces of equipment, such as advanced coffee equipment. Technologically advanced office and commercial coffee equipment and supplies offer convenience to users, and their high price value brings growth avenues for vendors offering these products. In addition, the growing number of tech parks and corporate offices is driving the demand for office and commercial coffee equipment and supplies across the globe.
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Europe is estimated to contribute 38% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The office and commercial coffee equipment and supplies market in Europe is expected to grow at a steady rate during the forecast period. In Europe, office and commercial coffee equipment and supplies will witness slow adoption because of the maturing and stagnating office and commercial equipment and supplies market in the region. The office and commercial coffee equipment and supplies market in Europe is characterized by replacement sales. However, the introduction of technologically advanced products, the strong brand value of products, and the high adoption of smart and energy-efficient coffee machines are expected to fuel the growth of the market in the region during the forecast period.
Many corporates in European countries such as the UK, Ireland, Germany, and Denmark extensively adopted telework and e-services for continuing business operations and limiting employees' access to office spaces as an emergency measure to contain the spread of COVID-19. However, in 2021, the initiation of large-scale vaccination drives led to the lifting of lockdown and trade restrictions in the region. This resulted in the reopening of speciality coffee shops by regional vendors. To maintain a steady growth of sales, coffee shops in Europe are competing by expanding their food menus to attract customers across different age groups. They are also focusing on better locations, which are easy to access for customers, and offering better home delivery and takeaway services. Franchising is another critical factor driving market growth in Europe. Owing to these factors, the coffee shops in Europe are expected to witness an accelerating growth momentum and boost the demand for office and commercial coffee equipment and supplies, and, in turn, will lead to the growth of the regional office and commercial coffee equipment and supplies market during the forecast period.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Office And Commercial Coffee Equipment And Supplies Market Scope |
|
Report Coverage |
Details |
Page number |
184 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.8% |
Market growth 2023-2027 |
USD 5,857.73 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
3.2 |
Regional analysis |
Europe, APAC, North America, Middle East and Africa, and South America |
Performing market contribution |
Europe at 38% |
Key countries |
US, China, Japan, Germany, and France |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Animo BV, Bunn O Matic Corp., Clive Coffee, Coffee Day Enterprises Ltd., Danone SA, De Longhi S.p.A, Farmer Bros Co., JURA Elektroapparate AG, Kaapi Machines India Pvt. Ltd., Keurig Green Mountain Inc., Koninklijke Philips NV, Luigi Lavazza SpA, Massimo Zanetti Beverage Group Spa, Nestle SA, Newell Brands Inc., Rhea Vendors Group Spa, SEB SA Co., The Coca Cola Co., Simonelli Group Spa, and Hamilton Beach Brands Holding Co. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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