Global Commercial Beverage Dispensers Market is valued to grow at a healthy CAGR of 3.25% over the forecast period 2020–2026. Increasing preference for beverage dispensers with polycarbonate containers coupled with growing demand for on-the-go beverages are the key factors augmenting the market growth.
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Beverage dispensers are the devices used for the purpose of dispensing beverage products. It is generally used for dispensing water, soft drinks, tea, coffee, alcoholic drinks, slush drinks, and others. Beverage dispensers are used at restaurants and clubs, offices, institutional buildings, residents, and others.
Developments in technology majorly drives the market. New and improved customization along with the attractive designs gains new customers and propels the market growth. Also, the increase in desire for convenience leading to operational efficiency fuels the market growth. The high cost of the beverage dispenser equipment and the maintenance majorly restricts the market growth. However, the growth in market of restaurants and clubs and the increase in commercial hubs is an opportunity for the beverage dispenser market.
- Technological development and availability of new and improved customizable beverage machines, which requires little to no human intervention, are key factors propelling the growth of the market.
- These machines increase convenience for users as well as employees and hence, are highly preferred by the management and consumers. This, in turn, boosts market growth.
- However, high cost of these dispensers is expected to hamper the market.
- Rise in the number of restaurants, clubs, and commercial hubs is expected to create opportunities in the market.
- Changing lifestyles and food habits of people globally fuels the market growth.
- Commercial beverage dispensers with interactive displaying select drink from the dispensers reduce the consumer’s waiting time. This in turn result the increased demand for beverage dispensers, thus boosting the demand for these machines.