Non-Residential Segment to Dominate South and Central America Coffee Machines Market during 2021-2028
According to The Insight Partners market research study on “South and Central America Coffee Machines Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast – by Type, Category, End-User and Country,” is expected to reach US$ 3,254.29 million by 2028 from US$ 2,333.33 million in 2021. The market is estimated to grow at a CAGR of 4.9% from 2021 to 2028. The report provides trends prevailing in the South and Central America coffee machines market along with the drivers and restraints pertaining to the market growth. Incrementing demand from youth population & corporates and rise in the popularity of caffeine are major factors driving the growth of the South and Central America coffee machines market. However, unfavourable effects of excessive consumption of caffeine hinder the growth of South and Central America coffee machines market.
In South and Central America, Brazil witnessed an unprecedented rise in the number of COVID-19 cases in 2020, which led to the discontinuation of coffee machines manufacturing activities. In addition, decline in the overall brewing activities has led to discontinuation of coffee machines manufacturing activities. The similar trend was witnessed in other South and Central American countries, such as Argentina, Colombia, Peru, Chile, and Ecuador.
The market for South and Central America coffee machines is segmented into type, category, end-user and country. Based on type, the market is segmented into filter coffee machines, espresso coffee machines, capsule and pod coffee machines, and others. In 2020, the filter coffee machines segment held the largest share in South and Central America coffee machines market. Based on category, the South and Central America coffee machines is divided into manual, and automatic & semi-automatic. The automatic & semi-automatic segment is expected to be the fastest growing segment over the forecast period. Based on end-user, the market is segmented into residential, and non-residential. In 2020, the non-residential segment held the largest share in South and Central America coffee machines market. Based on country, the South and Central America coffee machines market is divided into Brazil, Argentina and rest of South and Central America. In 2020, rest of South and Central America held the largest share in South and Central America coffee machines market. Furthermore, in this present scenario of COVID 19 pandemic, the South and Central America coffee machines market has been facing difficulties and several countries have suffered heavily. The manufacturing sectors in the South and Central America countries have been experiencing low production and a weak supply chain. Thereby, impacting the market for coffee machines.
Robert Bosch Gmbh; Electrolux Ab.; Illycaffè S.p.A.; Koninklijke Philips N.V; Krups Gmbh (Groupe SEB); Morphy Richards; Nestlé S.A.; Panasonic Corporation; and Luigi Lavazza S.p.A are some of the leading companies in the South and Central America coffee machines market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.
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