North America Retail Vending Machine Market To Reach $19.48 Billion By 2030

North America Retail Vending Machine Market Growth & Trends

The North America retail vending machine market is estimated to reach USD 19.48 billion in 2030, expanding at a CAGR of 3.1% from 2023 to 2030, according to a new report by Grand View Research, Inc. Unattended retail channels are a brand-new way for merchants to increase revenue and attract more clients. Customers can choose from a variety of payment methods with these options, which also offer a simple, quick, and practical buying experience. Since the COVID-19 outbreak, unattended retail outlets like vending machines have become more popular. Customers favor vending machine transactions that avoid physical contact with other people because they are contactless. When vending machines are frequently cleaned and maintained, customers feel comfortable and clean when making purchases. Additionally, vending machines are essentially fully automated stores where goods are placed into a machine and are typically open around the clock.

Food vending machines dominated the North America market for retail vending machines in 2022. In retail settings, there are two separate audiences for food vending machines. Customers are the first group to enter the store. A vending machine beside the entryway could boost foot traffic and encourage people to make impulsive purchases. The second target market is the workforce. Every shift, retail workers frequently take one or two ten-minute breaks in addition to a brief mealtime break. Employees typically choose vending machines that offer affordable food alternatives before returning to work because they have little to no time to attend a restaurant during their breaks.

The business and industry segment held the highest share of the market in 2022. To provide workers with a simple, quick, and economical option to purchase food, beverages, and other necessities, vending machines are installed at workplaces and industrial facilities. This guarantees that workers may quickly obtain the things they need for their everyday tasks without having to leave the building or rely on outside sources. Retail firms that operate physical stores, such as apparel or electronics boutiques, may use retail vending machines to supplement their offerings. Even when the main store is closed or during the busiest shopping times, these machines let people explore and buy things thus driving the segment’s growth.

The U.S. accounted for a significant share of the market in 2022. Vending machines are a reliable source of food for both consumers in the nation and travelers during layovers, delays, or late-night flights. Some machines allow for personalization, letting users select particular components or toppings by their preferences. They have the choice of ordering sandwiches, salads, snacks, hot and cold drinks, or even healthier options. Even during odd hours when room service or the hotel restaurant may not be open, vending machines at hotels give customers access to food and beverages all day long.

Major market players adopt various strategies such as partnerships, mergers & acquisitions, global expansion, and others to gain greater market share.

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North America Retail Vending Machine Market Report Highlights

• Beverage vending machine is expected to grow at a higher CAGR over the forecast period. The rising trend in the use of beverage vending machines because of their convenience and help in reducing the time spent on making a few purchases is driving the growth

• The healthcare segment is expected to grow at a considerable CAGR over the forecast period. Visitors, patients, and their families can now access retail vending machines inside these healthcare facilities for easy access to snacks, drinks, and refreshments thus resulting in their increased adoption

• The cashless segment is expected to grow at a faster CAGR over the forecast period. Cashless transactions raise the satisfaction of customers and boost vending profitability, which fuels the segment's growth Canada is expected to grow at a faster CAGR over the forecast period. Due to their accessibility and convenience, retail vending machines play a key part in boosting the customer experience and propelling the market’s growth

North America Retail Vending Machine Market Segmentation

Grand View Research has segmented the North America retail vending machine market based on machine type, channel, payment method, and country:

North America Retail Vending Machine Type Outlook (Revenue, USD Million, 2017 - 2030)

• Food Vending Machines

  • Refrigerated Food and Beverages

  • Non-Refrigerated Food and Beverages

• Beverage Vending Machines

  • Cold Beverages

  • Hot Beverages

North America Retail Vending Machine Channel Outlook (Revenue, USD Million, 2017 - 2030)

• Business and Industry

• Education

  • Colleges and Universities

  • K-12 Colleges

• Entertainment Venues

• Travel and Leisure

  • Hotels/ Lodging

  • Airports

• Healthcare

  • Hospitals

  • Long-Term Care

  • Others

• Retail

  • Retail Stores

  • Malls

  • Supermarkets

• Others

  • Military Bases

  • Correctional Facilities

  • Gyms

  • Others

North America Retail Vending Machine Payment Method Outlook (Revenue, USD Million, 2017 - 2030)

• Cash

• Cashless

North America Retail Vending Machine Country Outlook (Revenue, USD Million, 2017 - 2030)

• U.S.

• Canada

List of Key Players in the North America Retail Vending Machine Market

• The Coca-Cola Company

• PepsiCo

• Canteen Vending Services

• 365 Retail Markets

• USConnect

• Compass Group

• 24 Seven Vending

• Keurig Dr Pepper, Inc.

• Unilever PLC

• Nestlé S.A.

• Royal Vendors, Inc.

• Sodexo