Asia Pacific Vending Machine Market Overview
Vending machine market in APAC is anticipated to register significant growth over the coming years on account of rapid urbanization and the development of retail channels such as supermarkets, hypermarkets, shopping malls, and convenience stores in the region. Changing the lifestyle of consumers and the growing working population has led to the growth of ready-to-eat food and beverages in APAC. Further, rapid economic development coupled with the growing retail and tourism sector across key certain key countries such as China, India, Japan, and Singapore would also spur the demand for the vending machine market in the APAC region over the coming years.
According to 6Wresearch, Asia Pacific Vending Machine Market size is expected to register substantial growth during 2020-2026. Increasing disposable income and rising standard of living, entry of a large number of food and beverage brands, rising number of the working population, technological advancement, increasing number of QSR as well as rising e-commerce platforms across the region are some of the key growth drivers of the vending machine market in the APAC region. However, the growth of the vending machine is anticipated to witness a slowdown during the first half of 2020-2021 due to the outbreak of the Covid-19 pandemic. The government of most Asian countries has implemented lockdown which has resulted in a standstill of business operations and commercial activities in the countries. However, the market is expected to recover gradually at the beginning of 2021 in a few countries such as China, India, Australia, Japan, and Singapore. Whereas, in some other Asian countries the market may recover in the next few years. The introduction of smart card vending machines in Japan is also propelling the growth of the industry.
Key Highlights of the Report:
- APAC Vending Machine Market Overview
- APAC Vending Machine Market Outlook
- APAC Vending Machine Market Forecast
- Historical Data of APAC Vending Machine Market Revenues for the Period 2016-2019
- APAC Vending Machine Market Size and APAC Vending machine Market Forecast of Revenues, Until 2026
- Historical Data of APAC Vending Machine Market Revenues, By Product Types, for the period 2016-2026
- Market Size & Forecast of APAC Vending Machine Market Revenues and Volumes, By Product Types, Until 2026.
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