LONDON–(BUSINESS WIRE)–Dec 28, 2020–
The new office and commercial coffee equipment and supplies market in North America research from Technavio indicates positive growth in the short term as the business impact of COVID-19 spreads.
Technavio has announced its latest market research report titled Office and Commercial Coffee Equipment and Supplies Market in North America 2020-2024 (Graphic: Business Wire)
Get detailed insights on the COVID-19 pandemic Crisis and Recovery analysis of the office and commercial coffee equipment and supplies market in North America.
“One of the primary growth drivers for this market is the increasing demand for premium coffee,” says a senior analyst for the industrials industry at Technavio. The vendors should focus on growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments. As the markets recover, Technavio expects the office and commercial coffee equipment and supplies market in North America size to grow by USD 339.49 million during the period 2020-2024.
Office and Commercial Coffee Equipment and Supplies Market in North America Segment Highlights for 2020
- The office and commercial coffee equipment and supplies market in North America is expected to post a year-over-year growth rate of -10.30%.
- Based on end-user, the offices’ segment saw maximum growth in 2019. The market growth in the segment will be significant during the forecast period.
- 77% of the growth will originate from the US region.
- The US will offer several growth opportunities to market vendors during the forecast period.
- The US and Canada are the key leading markets for office and commercial coffee equipment and supplies markets in North America.
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- The office and commercial coffee equipment and supplies market in North America size is expected to accelerate at a CAGR of almost 1% during the forecast period.
- The office and commercial coffee equipment and supplies market in North America is segmented by end-user (Offices, FRC, Healthcare and hospitality, Education, and Others), distribution channel (Offline and Online), and geography (US and Canada).
- The market is fragmented due to the presence of many established vendors holding significant market share.
- The research report offers information on several market vendors, including Bunn-O-Matic Corp., Farmer Bros. Co., Hamilton Beach Brands Holding Co., Imperial Coffee and Services Inc., JAB Holding Co. Sarl, Mars Inc., Nestle SA, Newell Brands Inc., Royal Cup, Inc., and The Coca-Cola Co.
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE: Technavio Research
Copyright Business Wire 2020.
PUB: 12/28/2020 11:30 AM/DISC: 12/28/2020 11:31 AM
Copyright Business Wire 2020.
