Beverage Dispenser Market Expected to Reach $9.1 Billion by 2032--Allied Market Research

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Feb 06, 2024, 05:41 ET

The demand for individualized experiences among consumers is rising. Beverages that allow users to customize their tastes and ingredients may become increasingly common. This tendency might be more noticeable in the hotel and food service industries. This is expected to drive the market demand in the near future

PORTLAND, Ore., Feb. 6, 2024 /PRNewswire/ -- Allied Market Research published a report, titled, "Beverage Dispenser Market by Type (Cold Beverage Dispenser and Hot Beverage Dispenser), Material (Plastic, Stainless Steel, and Others), and End Use (Commercial and Residential): Global Opportunity Analysis and Industry Forecast, 2023–2032". According to the report, the global beverage dispenser market size was valued at $5.2 billion in 2022, and is projected to reach $9.1 billion by 2032, growing at a CAGR of 5.9% from 2023 to 2032.

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Prime determinants of growth

The growing food service industry is driving the growth of the beverage dispenser market. However, the growth of the beverage dispenser market is restricted by the high initial costs. On the other hand, expanding markets in emerging economies present remunerative opportunities for the expansion of the beverage dispenser during the forecast period.

Report coverage & details:

Report Coverage	Details
Forecast Period	2023–2032
Base Year	2022
Market Size in 2022	$5.2 billion
Market Size in 2032	$9.1 billion
CAGR	5.9 %
No. of Pages in Report	250
Segments Covered	Type, Material, and End Use
Drivers	• Increase in demand for convenience in beverage serving • Growth in food service industry • Technological advancements in dispenser systems
Opportunities	• Rise in focus on sustainability and eco-friendly solutions • Expansion of the market in emerging economies
Restraints	• High initial costs • Maintenance challenges

The cold beverage dispenser segment to maintain its leadership status throughout the forecast period

By type, the cold beverage dispenser segment held the highest market share in 2022, accounting for more than half of the beverage dispenser market revenue and is estimated to maintain its leadership status throughout the forecast period. A cold beverage dispenser is a kind of appliance used to hold and serve cold drinks. These dispensers are frequently found in a variety of locations, including cafes, restaurants, convenience stores, and event spaces. They are particularly well-liked for serving cold beverages such as fruit juices, iced tea, lemonade, and other pleasant options. The hot beverage dispenser segment is projected to witness the fastest CAGR of 6.1% during the forecast period. Coffee makers, tea makers, hot chocolate makers, and other hot beverage dispensers are machines or devices that are made to deliver hot beverages. A convenient and ready-to-serve hot drink is a common feature of these dispensers, which are frequently found in a variety of contexts such as offices, hotels, restaurants, cafes, and other public spaces.

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The plastic segment to maintain its leadership status throughout the forecast period

By material, the plastic segment held the highest market share in 2022, accounting for nearly half of the beverage dispenser market share and is estimated to maintain its leadership status throughout the forecast period. A plastic beverage dispenser is a type of container used for serving and distributing beverages, usually at gatherings, parties, and events. The materials used to make these dispensers are plastic, which is strong, lightweight, and manageable. The stainless steel segment is expected to witness the fastest CAGR of 6.2% during the forecast period. A stainless steel beverage dispenser is the perfect option for both residential and commercial use since it combines strength and contemporary design. This dispenser's long lifespan is guaranteed by its high-quality stainless steel construction, which also gives any environment a polished and elegant appearance. It can be used for a variety of drinks, such as juices, cocktails, and water, because of its corrosion resistance.

The commercial segment to maintain its leadership status throughout the forecast period

By end use, the commercial segment held the highest market share in 2022, accounting for more than two-thirds of the beverage dispenser market revenue and is estimated to maintain its leadership status throughout the forecast period. A beverage dispenser for commercial use ensures efficiency and convenience by streamlining beverage service in a variety of contexts. It enhances customer experience in restaurants, cafes, and catering events by dispensing drinks including juices, sodas, and iced tea. It is designed for high-volume consumption. Its robust design and easy-to-use features make it a vital tool for companies looking for dependable beverage dispensing solutions. The residential segment is expected to witness the fastest CAGR of 6.2% during the forecast period. Easily accessible to a range of refreshing drinks, a beverage dispenser for residential is a fashionable and practical addition to any house. Its button-activated cold water, juice, and other beverage dispensers add convenience and hospitality in the house, making it ideal for everyday use or entertainment.

Leading Market Players: -

Cornelius, Inc.
Manitowoc Beverage Systems
Lancer Corporation
Follett Corporation
BUNN-O-Matic Corporation
Grindmaster-Cecilware
IMI Cornelius
Multiplex Beverage
Elmeco
Zojirushi Corporation
Hoshizaki Electric Co., Ltd.
Hamilton Beach Brands, Inc.

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The report provides a detailed analysis of these key players in the beverage dispenser market. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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