Global commercial beverage dispenser equipment market expected to reach US$ 8.83 billion by 2028
The global commercial beverage dispenser equipment market size reached US$ 6.49 billion in 2022, according to a recent report by ResearchAndMarkets.com
Researchers say the market is expected to reach US$ 8.83 billion by 2028, exhibiting a CAGR of 5.27% during 2022-2028. The new study identifies continual technological developments, improved customisation in food processing equipment, and rising awareness regarding food wastage as key factors driving the market.
Beverage dispensers serve mixed beverages, particularly carbonated drinks, in a cost-effective, accurate, and efficient manner. The devices dispense water, soft drinks, tea, coffee, alcoholic drinks, slush drinks, and others. These dispensers enhance productivity, profitability, and operational excellence in foodservice chains and restaurants.
The report states that proliferation of the processed food industry across the globe is contributing significantly to the continual technological developments and improved customisation in food processing equipment, which is driving the market. Additionally, consumer preference toward self-service technology to reduce time in checkout lines is providing an impetus to the market.
However, the high initial cost of the beverage dispenser equipment installation, as well as the maintenance costs, are acting as major growth-restraining factors for the market. But the expansion of various hotel chains, restaurants and clubs, as well as commercial hubs, and rising awareness regarding food wastage leading to the growing popularity of environmentally friendly beverage storage and distribution applications are creating a positive market outlook.
Researchers also found the answers to key questions such as how the global commercial beverage dispenser equipment market has performed so far and how it will perform in the coming years, what are the drivers, restraints, and opportunities in the market, and what is the competitive structure of the market.
The findings identify key players in the market including Bras Internazionale SPA, Bunn-O-Matic Corporation, Cornelius – or Marmon Beverage Technologies – Fbd Partnership LP, Follett Products LLC, Igloo Food Equipment, Lancer Worldwide, and Manitowoc Ice.
In conclusion, the global commercial beverage dispenser equipment market is expected to continue growing due to the continual technological developments, improved customization in food processing equipment, and rising awareness regarding food wastage, which are significant factors driving the market.