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April 25, 2008
Installed Base of Vending Machines to Reach 32 Million Units by 2010, According to New Report by Global Industry Analysts, Inc.
Popularity of vending machines has increased along with convenience and instant access to diverse range of quality products. By the year 2010, global installed base of vending machines is all set to reach 32 million units, driven by rapid urbanization and increasing traffic at public places in emerging countries.
San Jose, California (PRWEB) April 24, 2008 -- Vending Machine (VM) is "a machine for selling certain kinds of goods/services at an unattended point of sale in exchange for monetary payment." Installing vending machines at the right location can churn more revenues. Universities and educational campus are one of the hottest destinations for vending products. A number of factors have contributed to the popularity of food products sold through vending machines. Convenience, timesaving, hygiene, branding, eating habits, and more installations have significantly increased the share of food category sold through vending. Over the years, coffee machines have evolved to meet the sensitive needs of consumers. A new trend in recent years is the availability of host of electronic items through vending machines.
Sale of products through vending machines is forecast to reach $157 billion by 2010, as report in a recent report published by Global Industry Analysts, Inc. United States constitutes the largest vending machine market with a share of 29% of the global installed base in 2008. Japan has the world's highest vending machine density ratio of 1 machine for every 22 persons. Revenues from vending machines in Japan, the second largest market, are projected to reach $50.9 billion by 2010. The start of the decade witnessed unprecedented growth of vending machines in developing countries and is expected to continue over the next few years due to strong potential despite numerous hurdles faced by vending machine operators and food manufacturers. The rapid development is mainly due to rising disposable incomes, increasing consumer spending, vending infrastructure, lifestyle changes, growing awareness, and changing eating and drinking habits.
Globally, beverage vending machines, represents the fastest growing segment with a CAGR of 3.6% over the 2001-2010 period. There is an increase in the market share of food products sold through vending machines, due to more snacking and grazing, more machines and more branding of the product. The largest vended product is coffee and confectionary, snacks, drinks, water and juices. Installed base of Food Vending Machines in the United Stated is estimated at 2.4 million units for 2008. Vending business is very popular in Europe, especially in the UK. Germany leads the European market in terms of installed base of vending machines with a market share of 26.7% in 2008.
The vending industry is guided by various factors such as changing consumer trends, increase in standard of living, growing sectors and markets, operators efficiency and government legalization. A major problem plaguing the vending machine market today is vandalism. Legislations such as the one addressing sale of cigarettes and alcoholic products to minors are expected to affect the industry in short term. With the implementation of new legislatives, tobacco companies are coming up with innovative methods to restrict cigarette vending to minors. Restricted by legislative specifications, the installed base for Cigarette Vending Machines in Europe is projected to reach 1.03 million units by 2010.
Leading players profiled in the report include American Vending Machines, Inc., Azkoyen SA, Crane Merchandising Systems, Dixie-Narco, Inc., Fuji Electric Retail Systems Co., Ltd., Glory Ltd., Interlott, Maas International, Matsushita Electric Industrial Co. Ltd., Sanden Corp., Tomra Systems ASA, and Westomatic Vending Services Ltd.
The report titled "Vending Machines: A Global Strategic Business Report" published by Global Industry Analysts, Inc. discusses the prevailing trends, issues, demand forecasts, and activities affecting the industry. Product sale through vending machines market is analyzed in US$ million by the following geographic regions -- United States, Canada, Japan, Europe, Asia-Pacific (excluding Japan), Middle East, and Latin America; and product segments -- beverage, food, cigarette, and other products & services. The installed base of vending machines market is analyzed in thousand units by the following geographic regions -- United States, Canada, Japan, Europe, and Rest of World; and product types -- beverage vending machines, food vending machines, cigarette vending machines, and other vending machines. The study also enumerates recent developments, mergers, acquisitions, and other strategic industry activities of major players.
For more details about this research report, please visit http://www.strategyr.com/Vending_Machines_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs over 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of over 60,000 smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
Global Industry Analysts, Inc.
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Posted by Industrial-Manufacturing at April 25, 2008 05:16 AM