Standard Coffee Machine Segment to Lead India Coffee Machine Market
Rapid urbanization, emerging trend of
dual household income, along with rising coffee culture to drive India coffee machine market through 2023
According
to TechSci Research report, ‘India Coffee Machine Market
By Type, By Distribution Channel, Competition Forecast &
Opportunities, 2013 - 2023’, India coffee machine market is forecast
to grow at a CAGR of over 16% during 2018 - 2023. Demand for coffee machines is expected
to grow in the country due to rising demand for smart kitchen appliances in urban
households coupled with rising young and working population, which prioritizes
convenience and comfort. Moreover, continuously rising household disposable
income coupled with rapid westernization resulting in changing lifestyle
patterns of consumers is further aiding the growth of India coffee machine
market.
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The
advent of e-commerce industry has created new routes for manufacturers/importers
to reach their customers across residential as well as HoReCa sectors. Online
sales channel is enabling companies to widen their distribution reach and serve
their customers even in the farthest of regions across India. Furthermore, rise
in the number of tech savvy people coupled with busy lifestyles, especially of
urban population, is driving the online purchase of coffee machines. However,
retail sales channel will continue to dominate the market with over 50% market
share during the forecast period. Companies
like Astoria, Rancilio Group SpA, WMF Group GmbH, which operate in the HoReCa
sector, are the leading players in India coffee machine market. Other major
market players include Philips,
Preethi, Morphy Richards, Black & Decker, Usha, etc. that are majorly active
in the residential sector.
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Among
different types of coffee machines, standard coffee machines account for over
90% share in India coffee machine market and the product segment is expected to
remain dominant during forecast period as well. A large demand for coffee
emanates from South India and this trend is likely to remain the same in the
coming years as well. “Demand for coffee machines is witnessing a steady growth
across India owing to rising trend of modular homes, and tech-savvy consumers
who are aware of the benefits of using smart home appliances. Additionally, growing
influence of social media on millennial population to purchase smart devices
such as kitchen appliances that can provide enhanced convenience and comfort is
anticipated to further push demand for coffee machines in the country.” said
Mr. Karan Chechi, Research Director with TechSci Research, a research based
global management consulting firm.
“India Coffee Machine Market By Type, By Distribution Channel, Competition Forecast & Opportunities, 2013-2023” has
evaluated the future growth potential of coffee machines in India and
provides statistics and information on market structure, size and trends. The
report is intended to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities present in India coffee machine market.
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