India Hot Beverage Vending Machine Market - Industry Trends and Forecast to 2028
MarkNtel Advisors, a prominent market research firm, has recently published a report titled India Hot Beverage Vending Machine Market: Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028. This study offers an in-depth examination of the industry, encompassing India Hot Beverage Vending Machine market share, size, trends, and growth predictions. Additionally, the report features an analysis of competitors and regions while spotlighting the most recent developments in the market.
India Hot Beverage Vending Machine Reports Highlights
What is the size of the India Hot Beverage Vending Machine?
The India Hot Beverage Vending Machine market is projected to grow at a CAGR of around 12% during the forecast period, i.e., 2023-28. The factors attributing to the growth are the rising usage of vending appliances in commercial offices. A hot beverage vending machine is a self-operating machine that produces & dispenses hot drinks such as coffee, tea, soups, etc.
Key Driver: Surging Number of Corporate Offices in India to Amplify the Market Growth
The number of corporate offices in India is rapidly increasing owing to factors such as the government’s favorable policies & the rising foreign investments in the Information Technology (IT) sector. Moreover, the country has witnessed a surge in its economic growth. According to the World Bank, in 2022, India registered around 6.9% overall growth amid global uncertainties such as the Russia-Ukraine War & Spread of COVID-19.
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What Components are Encompassed within India Hot Beverage Vending Machine Market segmentation?
The report has divided the market into the following segments:
By Drinks Offered
-Others (Hot Chocolate, Milk, etc.)
By Distribution Channel
-Dealers & Distributors
By End Users
-Hotels & Restaurants
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Who are the Primary Companies or Entities active in the Industry?
The report covers the major market players including:
-Vending Updates India Pvt. Ltd.
-Mountain Trail Food Pvt. Ltd.
-Godrej & Boyce Manufacturing Company Limited
-Nestlé India Limited
-Rhea Vendors Group Spa
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