The GCC Coffee Machine market is anticipated to grow at a CAGR of around 5.19% in the forecast period of 2023-28, says MarkNtel Advisors in their recent research report. Customers are increasingly adding coffee to their diet due to the prevalence of numerous health benefits it contains, which is one of the major factors driving the market. Coffee has long been known for its ability to boost energy levels, improve brain health, lower type 2 diabetes, and have many other benefits, which led to the widespread adoption of coffee machines at offices, hotels, and homes everywhere.
Additionally, the governments of the countries have been making various investments for the expansion of commerce, IT, tourism, and other sectors for achieving targets such as Saudi Vision 2030, Kuwait Vision 2035, etc. The expansion of these sectors has led to the rise in the construction of numerous infrastructures such as corporate buildings, tourist attraction places, smart cities, and others which further boosted the requirement for coffee at these places.
Concerning this, the adoption of coffee machines has grown considerably at these places for providing refreshment services to employees, visitors, and travelers. In addition, the expansion of these sectors & the establishment of smart cities have led to the opening of various businesses like restaurants, cafes, coffee houses, etc., which have led to the rising demand for coffee machines for serving customers.
Furthermore, the expansion of residential buildings, fueled by the region's high disposable income, has increased demand for coffee machines. The population has been adopting energy-efficient coffee machines in their kitchen for consuming coffee. Hence, it is estimated that the GCC Coffee Machine market is projected to grow steadily during the forecast period, owing to the presence of multiple driving factors, further states the research report, "GCC Coffee Machine Market Analysis, 2023."
Drip Coffee Machine Acquired a Significant Share in the Market Owing to its Technical Advancements
Based on the type of machine, the market is divided into Drip Coffee Machine, Steam Coffee Machine, and Capsule Coffee Machine. Among them, Drip Coffee Machine acquired a substantial share of the GCC Coffee Machine market during the historical period. The demand for drip coffee machines has grown due to the reusing features of various components such as filters, cones, etc.
In addition, the manufacturers of the drip coffee machines, such as Nestle, Panasonic, and others, have been introducing these machines with advanced technological features like smart drip coffee machines, which is likely to propel segment growth in the coming years.
The UAE to Witness Substantial Growth in the GCC Coffee Market
Geographically, the UAE would witness considerable growth in the GCC Coffee Machine market due to the wide application of coffee machines in multiple sectors such as residential, commercial, industrial, and others for providing refreshment services to individuals, millennials, or employees. The increasing year-on-year investments in the expansion of the residential, commercial, and industrial sectors have been the key contributor to the Coffee Machine market growth during the historical year.
Moreover, a rising trend for the consumption of black coffee, gourmet coffee, green coffee, etc., has been witnessed among fitness enthusiasts, thereby leading to the surging demand for coffee machines in the UAE. In addition, the growing consumer interest towards blended & flavored coffee has led to the growth in the set-up of various restaurants, cafeterias, etc., in the UAE, leading to high demand for coffee machines.
Hence, it is estimated that a rise in sales of coffee machines in the coming years due to the expansion of smart cities and other factors would drive the GCC Coffee Machine market during the forecast period.
According to MarkNtel Advisors, the leading players in the GCC Coffee Machine market are Black & Decker, Breville Group Limited, BSH Home Appliances, De Longhi Group, Electrolux AB, illycaffè S.p.A, Morphy Richards, Robert Bosch GmbH, Panasonic Corporation, Luigi Lavazza S.p.A, Nestle, Philips Electronics, and Others.
Key Questions Answered in the Study