Report Overview

India Vending Machine Market is flourishing owing to the growing need for on-the-go snacks and beverages, as well as the ability of these machines to deliver goods rapidly, making it a very convenient option for consumers.

India Vending Machine Market - Industry Trends & Forecast Report 2028

India Vending Machine Market is projected to grow at a CAGR of 17.2% during the forecast period (2022-2028). The rapid expansion of the market is predominantly due to the significant growth of the retail sector. Additionally, the demand for automated product distribution systems is rising in a variety of settings, including airports, hospitals, school canteens, railway and gas stations, and industrial operations. Other growth-promoting elements include various technological developments, such as the creation of reverse vending machines (RVM). These devices allow users to insert aluminum cans and used or empty plastic bottles in exchange for a reward. Moreover, new product versions featuring touch-screen panels, gesture-, video-, audio-, and scent-based interactions, as well as cashless payment capabilities, are also being introduced by manufacturers. Along these lines, the increased use of self-service technologies across industries is also fostering the market's expansion.

Vending Machine - Overview

A solitary automated machine known as a vending machine distributes small-sized goods in exchange for tokens or currency. It is used to dispense packaged snacks, chocolate bars, cupcakes, pizzas, hot and cold beverages, and candy, among other food items. In addition, they deliver toys, newspapers, cigarettes, and tickets. All day long, the products are placed into the machine and made accessible for purchase. The item that corresponds to the item number or button that the customer chooses is dispensed by the machine. To automate the vending process and give the user a flawless experience, it also includes computer control boards, refrigeration units, lighting systems, and bill and coin validators. Vending machines are so commonly utilized in public areas, business buildings, restaurants, and other

India Vending Machine Market Forecast and Trends

Growth Drivers

Growing Cashless and Contactless Payments

The market of vending machines is predicted to expand during the forecast period due to the growing acceptance of linked devices and Internet of Things (IoT) technologies. The market is expanding as a result of consumers' growing embrace of cashless and contactless payments for purchases of food and beverages. Moreover, the market for intelligent vending machines is being driven by increased government regulations, increased user interaction, mobile payment options, decreased operating costs, adoption of computing technology, remote management, payment flexibility, and improved energy efficiency and software flexibility.

Surging Demand for Beverage Retail Vending Machine

The growing demand for coffee and energy drinks across various industries is propelling the expansion of the market. In addition to coffee, tea, and chocolate, beverage vending machines sell diet soda, energy drinks, lemonade, flavored beverages, vitamin water, and water bottles. Beverage vending machines are quite common at hotels for visitors who would rather have a beverage or a small snack than a full meal. Vending machines are frequently placed in hotel lobbies to generate continual revenue. As a result, the India Vending Machine Market is predicted to develop at a significant rate during the forecast period (2022-2028).

Rising Adoption of Beauty and Personal Care Vending Machines

One of the products offered in beauty and personal care vending machines is shaving cream. Deodorants and makeup removers are also among the choices. In large cities, these vending machines are frequently seen in airports, spas, barbershops, and retail malls. They are an option for people who often buy high-end skincare and cosmetics items online. The need for beauty and personal care retail vending machines is anticipated to rise as more people visit spas, airports, and shopping centers. All these factors boost the growth of the India Vending Machine Market during the forecast period (2022-2028).

Restraints

Challenge: Rising Concern of Cyberattacks

Some significant factors that are anticipated to restrict the growth of the India Vending Machines market throughout the projected period include high fencing costs and growing concern over cyberattacks. Soon, it is expected that rigorous government laws regarding the selling of junk food in public spaces like schools and limitations on the sale of potentially dangerous goods like cigarettes and tobacco would inhibit the market growth. Moreover, low operating margins, theft, and vandalism are among other problems limiting the market for India vending machines. All these factors hinder the growth of the India Vending Machine Market.

Impact of COVID-19 on India Vending Machine Market

Lockdowns have harmed the supply chain, which has negatively impacted the consumer goods industry as a result of the coronavirus epidemic. It will probably have a complicated effect on food and beverage firms, affecting both supply and demand. As opposed to this, a shift in consumer behavior has been noted, creating demand for a variety of consumer items, with some customers switching between brands. Manufacturers are simultaneously evaluating how to handle potential disruptions throughout the supply chain and locating opportunities to enhance and satisfy customer demand. Operators of vending machines have noticed the effects and a decline in revenue, particularly in April 2020 compared to 2019.  

India Vending Machine Market - By Product

Based on the product, the India Vending Machine Market is segmented into Beverages, Snacks, Chocolates & Candies, and Others. Among these, beverages account for the largest share and are predicted to continue to do so during the forecast period (2022-2028). Beverage vending machines are utilized in many settings across the country, including hotels and restaurants, workplaces, and supermarkets, among others. Also, their popularity is rising in industrialized regions. All these factors propel the growth of the India Vending Machine Market during a forecast period (2022-2028).

India Vending Machine Market – By End-User

Based on end-user, the India Vending Machine Market is segmented into Quick Service Restaurants (QSR), Shopping Malls, Retail Stores, Offices And Institutions, Public Transport, and Others. Among these, the retail store segment holds the largest market share. Vending machines are currently mostly utilized in India's retail industry. The bulk of vending machines in use in the nation is found in airports, schools, train stations, offices, hospitals, gas stations, shopping centers, supermarkets, and hypermarkets. Also, some factors such as growing population, growing digitization, mobile-based cashless payment choices, more investment in the retail industry increased customer awareness, and rising purchasing power boost the market growth. Additionally, during the projection period, organized retailing growth in India's malls and multiplexes, BPOs, IT, and ITES sectors would be a major driver of vending machine demand.

India Vending Machine Market - By Region

Geographically, the India Vending Machine Market is segmented into Northern, Southern, Western & Central, Eastern. The western and central region now has the biggest market share and is likely to continue to do so during the forecast period (2022-2028). Self-service technology's emergence in this area has given retail vending machines additional commercial opportunities. As a result, several retail vending machine owners are concentrating on setting up shops in key areas throughout the area. The Mumbai-Pune belt, which is the most industrialized area of India, is located in Maharashtra. This influences the western region to dominate the market share in the upcoming years.

Competitive Landscape

The leading market players in the India Vending Machine Market are American Vending Machines, Automated Merchandising Systems, Azkoyen Vending Systems, Bulk Vending Machines, Continental Vending Machines, Crane Merchandising Systems Inc, Evoca Group, Fuji Electric Co Ltd, Sanden Holdings Corporation, and other prominent players.

The India Vending Machine Market is highly fragmented with the presence of several manufacturing companies in the country. The market leaders retain their supremacy by spending on research and development, incorporating cutting-edge technology into their goods, and releasing upgraded items for customers. Various tactics, including strategic alliances, agreements, mergers, and partnerships, are used.

Scope of the Report

By Product

• Beverages
• Snacks
• Chocolates & Candies
• Others

By End-Users

• Quick Service Restaurants (QSR)
• Shopping Malls
• Retail Stores
• Offices And Institutions
• Public Transport
• Others

By Region

• Northern
• Southern
• Western & Central
• Eastern