Drip coffee machines demand has witnessed moderate growth in the recent past on account of integration of technologies such as artificial intelligence and smartphone pairing. The advent of technology driven drip-coffee machines has largely contributed to the demand from tech-aficionados and millennials in developed as well as developing markets. Apart from a heightened uptick in sales, the new technological wave in the industry has also shortened the replacement cycle of these machines.
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The addition of AI-based Steam Coffee Machine has widened the product portfolio of key competitors, and has also rejuvenated the product lifecycle. On the back of these shifting dynamics, drip coffee machines market is projected to grow by 3% during the forecast period.
Key Takeaways of Drip Coffee Machines Market –
- Europe accounts for more than one third share in drip coffee machines market, and is expected to grow 1.4X by 2029 over 2019.
- Drip coffee machines with high capacity, are projected to account for more than half of the market share
- Drip coffee machines with glass carafes account for majority share in market and are anticipated to grow 1.3X by 2029 over 2019.
- Metal based drip coffee machines remain highly preferred in terms of body type, and are expected to show highest growth rate.
- Commercial usage of drip coffee machines is expected to grow by 1.4X between 2019 and 2029.
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Market Leaders Banking on Product Differentiation to Gain New Consumer Base
Drip coffee machiness market is partially consolidated with top 6 players accounting for more than 50% revenue share. Top leaders in the drip coffee machines market like De’Longhi Appliances s.r.l, Krups GmbH, Melitta Group and JURA Elektroapparate AG are focused on increasing their product offerings.
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Companies like JURA have also introduced their flagship products in other regions such as Oceania to gain market foot hold. Consolidation of drip coffee machines market is expected to increase during forecast, with market leaders accounting more than 60% of the revenue share.
Large Players Consolidating Position through Breakthrough Innovations
Prominent players continue to hold a hefty revenue share in the coffee machine market with their classic product portfolios as well as continual technology adoption aligned with consumer expectations.
Koninklijke Philips N.V. is the front-runner in the coffee machine market whereas De’Longhi S.p.A and JURA Elektroapparate present strong competition with their consistent product developments.
Along with the delivery of breakthrough customer experience, manufacturers are aiming at delivering a value-added product.
A new trend of introducing coffee pods that are compatible with coffee machines or vice-versa is observed in the market to relieve machine owners’ recurrent bemusement.
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