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.
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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