Market Trends of US Household Coffee Machine Industry
Coffee consumption driving coffee machine market towards making more investment,
During the Pre-pandemic level of January 2020, home coffee consumption remained at around 80%, which saw an increase after the pandemic to 84%, showing an increase in household coffee consumption after covid. In a survey among the US sample population, it was observed almost 43% of coffee drinkers chose specialty coffee in the past day, an increase of 20% since January 2021. From 2018-19 to 2019-20, coffee consumption observed a setback with 27.16 mn(60 kgs bags) consumed in 2018-19 and declined to 26.7 mn(60 kg bags) in 2019-20 with covid having a setback on consumption as well as production capacity, These changes in coffee consumption affected sales of coffee machine market.
Almost 58% of the population in the US drink coffee daily, and most of the consumed coffee is Traditional (specialty), after which comes Espresso-based beverage creating a market for the coffee machine. The maximum share of coffee drinking in the United States by age group is held by above 60 and youth from 18-24 years as the least coffee consuming. It gives a direction to the coffee market, as well as the coffee machine market, a direction towards which age to work on.
Automation leading to transformation and increase in revenue from coffee machine market.
The coffee shop market has seen no shortage of automation; this has been part of a push to improve consistency and minimize the number of time baristas spend on manual tasks. The automated coffee market is observing an increasing penetration in rising café chains, restaurants, and hangout places, creating an environment for growth in coffee and the coffee machine market. The semi-automated coffee machine market is also observing an increasing trend of offering consumers to create a brew per their preference. Integration of smart technology with domestic appliances creates automated coffee machines with Bluetooth and Wi-fi technology available. This ease in communication is likely to propel the coffee machine market.
They have automated coffee machine during 2021 that are valued at $5.34 bn USD and is expected to reach $6.95 bn USD by 2027 and give an excellent coffee without hassle. A completely automatic coffee machine allows users to save time and effort, which is especially beneficial for people who are short on time. This coffee machine market is expected to reach new heights by adopting household and commercial usage automation. The coffee machine market in the US is expected to grow at the highest pace in North America with automation.
Among Machinery, Steam coffee machines dominate the market with 69.5% share, with another segment of capsule coffee machines holding 22.4% share and drip coffee machines holding 8.1 % share, with all of them expected to grow at a CAGR greater than 4.5%.
