Single Serve Coffee Maker Market: Overview
The single serve coffee maker market is gaining with increasing trend of brewing café like coffee at home, and is predicted to continue to display steadfast growth over the forecast period of 2020 to 2030. Individuals and families are increasingly developing the taste for gourmet coffees, and are now brewing them at home for relaxation or to unwind after a long hectic day. Substantial rise in purchasing power in developing countries to buy gourmet coffees and to spend on kitchen appliances for convenience is another key factor fuelling the single serve coffee maker market.
Key parameters based on which the single serve coffee maker market is divided are type, application, and region.
The report is an all-important tool for valuable insights into growth trends, opportunities, and competitive landscape of the single serve coffee maker market for the 2020- 2030 forecast period. Further, the report delves into the regional outlook of the single serve coffee maker market, wherein growth indices and revenue share projections of key regions for the 2020 – 2030 forecast period provided.
Single Serve Coffee Maker Market: Competitive Landscape
The single serve coffee maker is largely consolidated with the presence of a few prominent players. Design improvement and product innovation are the focus of large players in the single serve coffee maker market to consolidate their foothold. Expansion of distribution channels to penetrate into regional markets is also a key growth strategy of prominent players in the single serve coffee maker market.
On the other hand, emergence of regional players that offer low cost products that are at par with branded products is resulting in stiff competition for large players.
Some top-notch companies operating in the single serve coffee maker market include Keurig Dr Pepper, Hamilton Beach Brands, Sunbeam Products, De’ Longhi, Spectrum Brand, Nespresso, BUNN-O-Matic, LAVAZZA, JURA Elektroapparate, and Krups.
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Single Serve Coffee Maker Market: Key Trends
Rising practices in urban areas of buying gourmet coffees and brewing them at home for café like experience, or to entertain guests is a key factor fuelling the single serve coffee maker market. Single serve coffee maker is typically used for brewing coffee at home. Single serve coffee makers typically make use of coffee pods and capsules in combination.
Design improvements and technological advances are some other factors benefitting the single serve coffee maker market. Single serve coffee makers are available in various sizes to serve various needs. New models of single serve coffee maker have a design to adjust coffee dispensing depending on the amount that is brewed.
Furthermore, with technological advances in single serve coffee maker, coffee brewed in the maker can be used for up to 3-4 hours. The material of the brewing container prevents change of taste, thus can be used for couple of hours. This is attracting the use of single serve coffee maker among urban consumers.
Single Serve Coffee Maker Market: Regional Assessment
North America is a key region in the single serve coffee maker market. High consumption of coffee is a primary factor fuelling the demand for single serve coffee maker. On an average, Americans drink 6-7 cups of coffee each day, both at home and on-the-go. Single serve coffee maker is an economical option, which individuals are increasingly opting in place of buying brewed coffee from take-away restaurants and eateries.
Asia Pacific is anticipated to emerge as a key region in the single serve coffee maker market in the forthcoming years. Changing lifestyle in urban areas of developing countries of the region due to rising purchasing power is indirectly benefitting the single serve coffee maker market. Individuals and families are increasingly spending on modern kitchen devices for convenience and due to shortage of time.
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This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.