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Global demand for refrigerated vending machines is forecast to grow less than 1.0% annually through 2024 to $1.6 billion, an improvement over the substantial losses of the 2014-2019 period. Among the trends that will support these minor gains are:
- a global economic recovery during the post-pandemic period
- expansion of their electrical grids in developing nations, helping increase consumer spending on refrigerated and frozen food and beverage products
- the introduction of state-the-art, versatile, and efficient models, including those that accept cashless payments, which will help make vending machines an option for quick impulse purchases
- the growing availability of refrigerated vending machines in Eastern Europe, Central and South America, the Africa/Mideast region, and numerous Asia/Pacific countries (e.g., India)
However, weakness in the large and mature US and Japanese markets – which were responsible for 43% of 2019 sales – will constrain global gains through 2024. Economic weakness related to the COVID-19 pandemic will also limit growth going forward.
Smart Vending Machines to Provide a Bright Spot for Vending Machine Demand
Despite tepid growth in vending machine sales overall, opportunities remain. The vast majority of newly installed vending machines offer smart features and internet connectivity, which can both boost product sales and reduce maintenance expenses:
- Credit card readers and mobile payment options can boost sales in increasingly cashless societies.
- Transaction software can inform vending operators what products are selling at a given location, enabling them to optimize sales.
- Sensors can monitor equipment performance and notify operators of needed maintenance in a timely manner, reducing unneeded trips to the machine.
While older machines can be retrofitted to incorporate most of these features, newer machines have them built-in and also include greater energy efficiency (such as LED lighting and better performing refrigeration systems) and better visual aesthetics, so replacing older machines instead of retrofitting them is likely to provide better returns.
Sales Poised to Expand Outside Mature Japanese & US Markets
Japan and the US are two of the world’s three largest markets for refrigerated vending machines, with Japan alone comprising one-third of global sales in 2019. Demand is expected to decline in these countries, which will weigh down global growth.
Excluding Japan and the US, the global market for refrigerated vending machines is expected to increase at a more positive rate of 1.7% per year through 2024. China, for instance, is expected to see sales increase nearly 4% annually through 2024, among the fastest growth rates in the world as the widespread availability of affordable models will facilitates development of its market. Many other low and middle income nations in the Asia/Pacific and Africa/Mideast regions will register demand gains above 2% per year through 2024. There is a much lower installed bases of refrigerated vending machines in these areas, providing ample opportunities to enter new markets.
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Table of Contents
1. Executive Summary
2. About This Report
Report Details
Study Scope & Product Description
Impact of COVID-19 Pandemic
3. Overview
Historical Market Trends
Demand by Region
Leading Country Markets
Demand by Location
Pricing Trends
Competition from Micro Market Vending
Market Share & Leading Producers
4. Smart Vending Machines
Product Description
Technology & New Product Development
Drivers & Restraints
Demand by Region
Leading Suppliers
5. North America
North America: Refrigerated Vending Machine Market Size
Demand by Country
United States
Canada
Mexico
6. Central & South America
Central & South America: Refrigerated Vending Machine Market Size
Demand by Country
Brazil
Other Central & South America
7. Western Europe
Western Europe: Refrigerated Vending Machine Market Size
Demand by Country
United Kingdom
France
Germany
Spain
Italy
Netherlands
Other Western Europe
8. Eastern Europe
Eastern Europe: Refrigerated Vending Machine Market Size
Demand by Country
Russia
Other Eastern Europe
9. Asia/Pacific
Asia/Pacific: Refrigerated Vending Machine Market Size
Demand by Country
Japan
China
South Korea
Taiwan
Australia
India
Indonesia
Other Asia/Pacific
10. Africa/Mideast
Africa/Mideast: Refrigerated Vending Machine Market Size
Demand by Country
Turkey
Other Africa/Mideast
11. Appendix
Scope
Definitions
Freedonia Methodology
Study-Specific Methodology
Sources
Associations & Agencies
Related Studies & Reports
Country Lists by Region
Macroeconomic Assumptions
Global Economic Outlook
Global Population
Global Urban Population
Global Fixed Investment
Global Personal Consumption Expenditures
Global Nonresidential Building Construction Outlook
List of Tables
3. Overview
Table 3-1 | Global Refrigerated Vending Machine Demand, 2009 - 2019 (million dollars)
Table 3-2 | Global Refrigerated Vending Machine Demand by Region, 2009 - 2029 (million dollars)
4. Smart Vending Machines
Table 4-1 | Global Smart Vending Machine Demand by Region, 2009 - 2029 (million dollars)
5. North America
Table 5-1 | North America: Refrigerated Vending Machine Demand by Country, 2009 - 2029 (million dollars)
6. Central & South America
Table 6-1 | Central & South America: Refrigerated Vending Machine Demand by Country, 2009 - 2029 (million dollars)
7. Western Europe
Table 7-1 | Western Europe: Refrigerated Vending Machine Demand by Country, 2009 - 2029 (million dollars)
8. Eastern Europe
Table 8-1 | Eastern Europe: Refrigerated Vending Machine Demand by Country, 2009 - 2029 (million dollars)
9. Asia/Pacific
Table 9-1 | Asia/Pacific: Refrigerated Vending Machine Demand by Country, 2009 - 2029 (million dollars)
10. Africa/Mideast
Table 10-1 | Africa/Mideast: Refrigerated Vending Machine Demand by Country, 2009 - 2029 (million dollars)
11. Appendix
Table 11-1 | Relevant Industry Codes
Table 11-2 | Relevant HS Codes
Table 11-3 | Relevant NACE Codes
Table 11-4 | Countries in North America
Table 11-5 | Countries in Central & South America
Table 11-6 | Countries in Western Europe
Table 11-7 | Countries in Eastern Europe
Table 11-8 | Countries in the Asia/Pacific Region
Table 11-9 | Countries in the Africa/Mideast Region
Table 11-10 | Global Gross Domestic Product by Region & Country, 2009 - 2029 (billion 2018 dollars)
Table 11-11 | Global Population by Region & Country, 2009 - 2029 (million persons)
Table 11-12 | Global Urban Population by Region & Country, 2009 - 2029 (million persons)
Table 11-13 | Global Fixed Investment by Region & Country, 2009 - 2029 (billion 2018 dollars)
Table 11-14 | Global Personal Consumption Expenditures by Region & Country, 2009 - 2029 (billion 2018 dollars)
Table 11-15 | Global Nonresidential Building Construction Expenditures by Region & Country, 2009 - 2029 (billion 2018 dollars)
List of Figures
1. Executive Summary
Figure 1-1 | Refrigerated Vending Machines Global Market
2. About This Report
Figure 2-1 | Global Refrigerated Vending Machine Demand, 2009 - 2024 (million dollars)
3. Overview
Figure 3-1 | Global Refrigerated Vending Machine Demand, 2009 - 2019 (million dollars)
Figure 3-2 | Global Refrigerated Vending Machine Demand by Region, 2009 - 2029 (million dollars)
Figure 3-3 | Refrigerated Vending Machine Demand: Leading Country Markets, 2019 (million dollars)
Figure 3-4 | Global Refrigerated Vending Machine Demand by Location, 2019 (billion dollars)
Figure 3-5 | Global Refrigerated Vending Machine Market Share by Company, 2019 (billion dollars)
4. Smart Vending Machines
Figure 4-1 | Global Smart Vending Machine Demand by Region, 2009 - 2029 (million dollars)
5. North America
Figure 5-1 | North America: Refrigerated Vending Machine Demand, 2009 - 2019 (million dollars)
Figure 5-2 | North America: Refrigerated Vending Machine Demand by Country, 2009 - 2029 (million dollars)
Figure 5-3 | United States: Refrigerated Vending Machine Demand, 2009 - 2024 (million dollars)
Figure 5-4 | Canada: Refrigerated Vending Machine Demand, 2009 - 2024 (million US dollars)
Figure 5-5 | Mexico: Refrigerated Vending Machine Demand, 2009 - 2024 (million dollars)
6. Central & South America
Figure 6-1 | Central & South America: Refrigerated Vending Machine Demand, 2009 - 2019 (million dollars)
Figure 6-2 | Central & South America: Refrigerated Vending Machine Demand by Country, 2009 - 2029 (million dollars)
Figure 6-3 | Brazil: Refrigerated Vending Machine Demand, 2009 - 2024 (million dollars)
Figure 6-4 | Other Central & South America: Refrigerated Vending Machine Demand, 2009 - 2024 (million dollars)
7. Western Europe
Figure 7-1 | Western Europe: Refrigerated Vending Machine Demand, 2009 - 2019 (million dollars)
Figure 7-2 | Western Europe: Refrigerated Vending Machine Demand by Country, 2009 - 2029 (million dollars)
Figure 7-3 | United Kingdom: Refrigerated Vending Machine Demand, 2009 - 2024 (million dollars)
Figure 7-4 | France: Refrigerated Vending Machine Demand, 2009 - 2024 (million dollars)
Figure 7-5 | Germany: Refrigerated Vending Machine Demand, 2009 - 2024 (million dollars)
Figure 7-6 | Spain: Refrigerated Vending Machine Demand, 2009 - 2024 (million dollars)
Figure 7-7 | Italy: Refrigerated Vending Machine Demand, 2009 - 2024 (million dollars)
Figure 7-8 | Netherlands: Refrigerated Vending Machine Demand, 2009 - 2024 (million dollars)
Figure 7-9 | Other Western Europe: Refrigerated Vending Machine Demand, 2009 - 2024 (million dollars)
8. Eastern Europe
Figure 8-1 | Eastern Europe: Refrigerated Vending Machine Demand, 2009 - 2019 (million dollars)
Figure 8-2 | Eastern Europe: Refrigerated Vending Machine Demand by Country, 2009 - 2029 (million dollars)
Figure 8-3 | Russia: Refrigerated Vending Machine Demand, 2009 - 2024 (million dollars)
Figure 8-4 | Other Eastern Europe: Refrigerated Vending Machine Demand, 2009 - 2024 (million dollars)
9. Asia/Pacific
Figure 9-1 | Asia/Pacific: Refrigerated Vending Machine Demand, 2009 - 2019 (million dollars)
Figure 9-2 | Asia/Pacific: Refrigerated Vending Machine Demand by Country, 2009 - 2029 (million dollars)
Figure 9-3 | Japan: Refrigerated Vending Machine Demand, 2009 - 2024 (million dollars)
Figure 9-4 | China: Refrigerated Vending Machine Demand, 2009 - 2024 (million dollars)
Figure 9-5 | South Korea: Refrigerated Vending Machine Demand, 2009 - 2024 (million dollars)
Figure 9-6 | Taiwan: Refrigerated Vending Machine Demand, 2009 - 2024 (million US dollars)
Figure 9-7 | Australia: Refrigerated Vending Machine Demand, 2009 - 2024 (million US dollars)
Figure 9-8 | India: Refrigerated Vending Machine Demand, 2009 - 2024 (million dollars)
Figure 9-9 | Indonesia: Refrigerated Vending Machine Demand, 2009 - 2024 (million dollars)
Figure 9-10 | Other Asia/Pacific: Refrigerated Vending Machine Demand, 2009 - 2024 (million dollars)
10. Africa/Mideast
Figure 10-1 | Africa/Mideast: Refrigerated Vending Machine Demand, 2009 - 2019 (million dollars)
Figure 10-2 | Africa/Mideast: Refrigerated Vending Machine Demand by Country, 2009 - 2029 (million dollars)
Figure 10-3 | Turkey: Refrigerated Vending Machine Demand, 2009 - 2024 (million dollars)
Figure 10-4 | Other Africa/Mideast: Refrigerated Vending Machine Demand, 2009 - 2024 (million dollars)
11. Appendix
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