According to the Market Statsville Group (MSG), the global vending machine market size is expected to grow from USD XX million in 2022 to USD XX million by 2033, growing at a CAGR of XX% from 2023 to 2033. The growing demand for food and beverage vending machines is due to the growing retail industry, driving the market's growth. Also, automated retailing is further contributing to the growth of the global food and beverage vending service market in the forecast period. Furthermore, increasing research and development which has led to developments such as the introduction of intelligent vending machines is further propelling the growth of the food vending service market in the coming years. Moreover, growing break time solutions, adoption of vending services in various verticals such as schools, offices, buses, hospitals, and others, are thus driving the growth of the market during the forecasting period. On the other hand, the huge cost involved in installation and maintenance of food vending services, will be a major restraining factor hampering the market’s growth over the forecasting period.

Definition of the Global Vending Machine Market

A vending machine is an automated machine that sells things such as snacks, drinks, cigarettes, and lottery tickets to customers when they enter cash, a credit card, or other forms of payment into the machine or make other payment. Food Vending machines are devices used for the purpose of dispensing products such as food products, beverages products, tobacco products, and others. Food vending machines services include the services or food and beverages offered by the respective vending machines. Vending machines services are used at restaurants & clubs, offices, institutional buildings, residents, and others.

Manufacturers are creating and releasing vending machines that use the internet of things (IoT). This has allowed real-time data collecting and an end-to-end IoT solution to improve machine monitoring. As a consequence, gathering customer experience and expectations and providing an upgraded consumer buying experience has become more convenient. Constant technology advancements and improvements have driven the sector to provide more modern, on-the-go solutions that are in sync with trends in customer behaviour. Furthermore, advancements like speech recognition, interactive display systems, and big data integration have made it more convenient and user-friendly for customers, resulting in a beneficial influence on the growth of the food vending services industry market.

COVID-19 Impact on the Global Vending Machine Market

The COVID-19 had a significant impact on the growth of the market. The pandemic has negatively affected the market growth in 2020, due to the complete lockdowns in various economies. Owing to numerous uncertainties, including the transmissibility, severity, duration, and resurgence of the outbreak; new virus variants; uptake and effectiveness of health and safety measures or actions that are voluntarily adopted by the public or required by governments or public health authorities, including vaccines and treatments; and the speed and strength of an economic recovery, including the reopening of businesses, the long-term effects of COVID-19 are difficult to predict. This will keep assessing the nature and scope of the impact on businesses across the region.

The pandemic has had a significant impact on the food vending services, with a significant negative impact. The COVID-19 outbreak has altered operational efficiency and disrupted value chains coupled with closure of schools and colleges. Further people were using personal vehicle instead of public transport, this, in turn reduce the demand for the market. In addition, the work from home policy adopted by various companies, also reduced the demand for the market amid the pandemic.

Global Vending Machine Market Dynamics

Drivers: The growing adoption of vending machines in hospitals

The adoption of food vending services in hospital settings provides profit margins to the vendors. Further, fresh meal is highly consumed in hospitals as it offers various health benefits and pave the way for the growth of the market. Hospitals are busy 24 hours a day, seven days a week. Staff, patients, and visitors fill the wards, and while many hospitals have cafeterias on site, it can often be difficult for people to find the time to get a proper meal. For this reason, and many others, a hospital should have multiple vending machines on-site. The food vending service in the hospitals provides fresh meal stock regularly and is timely maintained and eliminates the chances of any uncertainties and disease due to unhealthy food. Such factors are driving the growth of the market over the forecasting period across the region.

Further, hospital staff either doctors or nurses, or cleaners very rarely have the luxury of hour-long lunch breaks. They can go for hours without any sort of break, so the ability to grab a snack, a coffee, or a bottle of water as they walk down the corridor is absolutely invaluable. For healthcare professionals in particular, who need to be energized and nourished can pick the meal of their choice directly from the vending machines, which saves time and reduces the stand-in queue process. Thus, fueling the market's growth over the forecasting period.

Restraints: Huge cost involved in installation and maintenance

The huge cost involved in installation and maintenance of food vending services, will be a major restraining factor hampering the market’s growth over the forecasting period. As the vendors are expected to install vending machines at various locations or can rent their vending machines to different institutes, however, the maintenance of machine and products inside comes with a huge latent cost. The product’s expiry needs to be checked proper temperature and pressure is to be maintained to ensure food safety. Further, any issue in the machine will halt the operations of that machine. Such factors negatively affect the growth of the market over the forecasting period.

In addition, any health issue raised due to consumption of food from the vending machine or via food vending services will lead to the cancellation of tenders and affect the profitability and customer loyalty of the vendors. This, in turn, hampered the growth of the market across the region over the forecasting period.

Opportunities: The integration of advancing technology in vending machines

Vending machines are becoming better, smarter, and can deliver more engaging customer experiences. Through artificial intelligence, facial recognition, and transparent displays, these machines offer everything from entertainment to cashless payments. With the launch advancing technology and use of AI and IoT for the various purposes the overall operation of managing food vending services become flexible. And it enabled various tech-giants to invest in R&D to develop innovative vending machines to attract the customers and at the same time cater to the needs of the end-users.

The adoption of AI will enable vendors to monitor consumer patterns and manage the machines. AI is transforming the face of automated retail by providing the greatest degree of client connection through intelligent and personalised offers. Several computer behemoths have developed a cutting-edge face recognition programme that paves the path for intelligent user engagement in smart vending machines. The AI-powered programme recognises faces using Convolutional Neural Network technology and, in conjunction with the signage application, provides an appealing client trip. The Intelligent Signage System combines artificial intelligence, data analytics, machine learning, and neural networks to provide intelligent suggestions based on the user's past preferences. This, in turn, creates profitable potential for market expansion around the world over the forecasted period.

Scope of the Global Vending Machine Market

The study categorizes the vending machine market based on type, and application area at the regional and global levels.

By Type Outlook (Sales, USD Million, 2019-2033)

• Snacks
• Beverages
• Fresh Meals
• Beauty & Personal Care

By Application Outlook (Sales, USD Million, 2019-2033)

• Offices
• Apartment Communities
• Hotels
• Retail Stores
• Others

By Region Outlook (Sales, USD Million, 2019-2033)

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Italy
  • France
  • UK
  • Spain
  • Poland
  • Russia
  • The Netherlands
  • Norway
  • Czech Republic
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Indonesia
  • Malaysia
  • Thailand
  • Singapore
  • Australia & New Zealand
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Colombia
  • Rest of South America
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa
  • Northern Africa
  • Rest of MEA

Beverages segment accounts for the largest market share by type

Based on the type, the market is divided into snacks, beverages, fresh meals and beauty & personal care. The beverages segment is expected to dominate the market share in 2022 in the global vending machine market. The beverages segment currently dominates the market share in the vending machine market. The growing demand for coffee and energy drinks across various industries is propelling the expansion of this category. In addition to coffee, tea, and chocolate, beverage vending machines sell diet soda, energy drinks, lemonade, flavored beverages, vitamin water, and water bottles. Beverage vending machines are quite common at hotels for visitors who would rather have a beverage or a little snack than a full dinner. Vending machines are frequently put in hotel lobbies to generate continual revenue.

North America is expected to witness the largest market share by Region

Based on the regions, the global vending machine market has been segmented across Europe, North America, the Middle East & Africa, Asia-Pacific, and South America. North America is projected to account for the highest market share in 2022. The area is expected to increase at a stable CAGR during the projection period, retaining its leading position. Self-service technology's emergence in this region has opened up new business opportunities for retail vending machines. As a result, various retail vending machine owners are focused on establishing themselves in strategic places around the region.

Competitive Landscape: Global Vending Machine Market

The vending machine market is a significant competitor, and extremely cutthroat in the sector are using strategies including product launches, partnerships, acquisitions, agreements, and growth to enhance their market positions. Most sector businesses focus on increasing their operations worldwide and cultivating long-lasting partnerships.

Major key players in the global vending machine market are:

• Five Star Food Service
• Cromer Food Services, Inc.
• Aramark Corporation
• S&M Food Services
• Foley FoodService
• Sodexo
• American Food and Vending
• AVI Foodsystems, Inc.
• Sirness Vending
• Taher Incorporated Company 11
• Company 12
• Company 13
• Company 14
• Company 15

Recent Development

• In April 2021, Aramark, a global leader in food, facility management, and uniforms, announced today that it has agreed to acquire Next Level Hospitality, a premier provider of culinary and environmental services in the senior living sector specialising in skilled nursing and rehabilitation facilities.

Key Issues Addressed

• What is the market size by various segmentation of the vending machine by region and its respective countries?
• What are the customer buying behavior, key takeaways, and Porter's 5 forces of the vending machine market?
• What are the key opportunities and trends for manufacturers involved in the vending machine supply chain?
• What are the fundamental dynamics (drivers, restraints, opportunities, and challenges) of the market?
• What and how regulations, schemes, patents, and policies are impacting the growth of the market?
• What are the upcoming technological solutions influencing market trends? How will existing companies adapt to the new change in technology?
• The market player positioning, top winning strategies by years, company product developments, and launches will be?
• How has COVID-19 impacted the demand and sales of vending machine in the global market? Also, the expected BPS drop or rise count of the market and market predicted recovery period.
• Detailed analysis of the competitors and their latest launch, and what are the prominent startups introduced in the target market? Also, detailed company profiling of 25+ leading and prominent companies in the market.